Amid a critical housing shortage, California-based homebuilder Tri Pointe Homes has opened two new townhome communities in the Triangle.
They’re injecting some 130 units into the market. The price point: Around $400,000 to $500,000.
The first development is the 66-unit neighborhood called Tredenham at 501 Brittany Court It’s about a 21-minute drive east of downtown Durham.
Each two-story townhome is 1,650 to 1,916 square feet with three bedrooms, two and a half baths, and a two-bay garage.
Prices start in the low $400,000s.
The second is 63-unit Elm Park at 4707 Mint Leaf Lane off Duraleigh Road in Raleigh. It’s about a 26-minute drive southeast to downtown Raleigh and an 18-minute drive east to Raleigh-Durham International Airport.
The community features 2,252- to 2,398-square-foot modern homes. The units come with open floor plans and three to four bedrooms, up to three and a half baths, and two-bay garages.
Prices start from the $500,000s.
Both developments will be showcased in the upcoming Triangle Parade of Homes, which runs from Sept. 28 to 29, Oct. 4 to 6, and Oct. 11 to 13 from noon to 5 p.m.
They offer “luxury residences in core locations,” said Tri Pointe’s James Flanagan, in a release. For comparison, the median sale price for all property types across 17 counties is $420,000 in July, according to the Triangle Multiple Listing Service.
An out-of-state developer
As North Carolina continues to be one of the fastest-growing states, Tri Pointe is among a number of out-of-state developers moving into the market in recent years.
Since 2018, it’s bought up large swaths of land across the state to build multifamily residential. It’s currently selling four communities in the Triangle alone. They include Barlow in Raleigh, Chatham Park in Pittsboro, and Holding Village in Wake Forest.
Six projects are also in the pipeline to open “in the next 18 months,” Tri Pointe added.
That includes Altis at Serenity, a new planned 55-plus community in Fuquay-Varina. Prices are expected to start at around $400,000.
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