Lennar has snapped up nearly 40 acres in East Raleigh and is lining up roughly 200 townhomes for the site, turning another big piece of the city’s east side into production-home territory. The land traded for about $6 million, according to public records and local reporting, and planning paperwork points to the Old Milburnie Road area as the assembled footprint for the project.
Triangle Business Journal reports that Lennar is the buyer and is planning roughly 200 townhomes across the nearly 40-acre tract. The outlet also pegs the sale price at about $6 million.
Where the land sits
City of Raleigh planning documents and subdivision filings tie the involved parcels to Old Milburnie Road, including survey sheets for 1309 Old Milburnie Road and neighboring tracts that add up to acreage in the high 30s. Those materials, filed as part of the subdivision review process, appear in City of Raleigh planning documents.
The filings lay out wetland and floodplain delineations, existing easements and survey details that developers must address before any lots are created. The boundaries in those public records match the general footprint described in reporting on the land sale.
Another addition to East Raleigh's housing boom
The move drops Lennar into the middle of a growing wave of big-site proposals and rezonings that have stacked up a sizable pipeline of planned homes on Raleigh’s east side. As the Triangle Business Journal notes, this project layers on top of thousands of homes already sketched out for East Raleigh.
Market context
Local MLS listings show Lennar and other production builders actively marketing townhome communities in and near East Raleigh, a sign that demand for denser, for-sale housing in the area has not cooled off. Listings data collected by Redfin highlight multiple Lennar townhome offerings and recent completions nearby.
When vertical construction starts will depend on subdivision approvals, infrastructure work and Lennar’s sales schedule. The public filings to date do not list a firm construction start, so for now the timeline remains one more item waiting to clear the city’s review process. Coverage will be updated as permits appear and builder disclosures are filed.
