Walton Global, a real estate investment and land asset management company, announced the sale of Sanctuary at Southgate, a 57-acre parcel located within the Southgate master planned community in the town of Indian Trail, North Carolina, just outside of Charlotte.
Sold to homebuilder D.R. Horton, phase one of Sanctuary at Southgate includes 115 lots zoned for residential development. Walton says that at full buildout, the property is expected to include 231 single-family homes and 52 townhomes for a total of 283 homes. Within the greater master plan, an additional 240 multifamily units and commercial use is planned for the future.
“We are pleased to announce the sale of the Sanctuary at Southgate property to D.R. Horton,” said Michael Slavotinek, vice president of asset management for Walton Global. “This parcel is positioned in an opportune, growing corridor near Charlotte, with incredible untapped potential. The development of this land supports our commitment to building long lasting communities that meet the needs of the growing population in the area.”
Located at Poplin Road and North Rocky River Road, the community is situated within 2 miles of highly desirable schooling options and just 27 miles from the Charlotte Douglas Airport. The Southgate master planned community is within five miles of Interstate 485, providing easy access to Charlotte and is expected to benefit from the new Monroe Bypass which will run less than two miles west of the property. The new master planned community will offer pedestrian inter-connectivity between village components, as well as a 90,000 square foot commercial center with opportunities for retail and other commercial mixed-use purposes.
Plans for the first phase of include a mix of 60-foot and 70-foot lots with single-family homes from the Traditions SeriesSM. Each lineup is expected to include both 2-story and ranch offerings with prices projected to start from the high-$400s to mid-$500s.
The company currently manages over 8,000 acres in the North Carolina and South Carolina region. This includes approximately 2,200 acres in North Carolina and 5,900 acres in South Carolina.
Walton Global is a privately-owned land asset management and real estate investment company with $3.4 billion in assets under management.