Charlotte, NC (November 2024) – MPV Properties (“MPV”) and Meritage Homes Corp. (NYQ:MTH) are pleased to announce the recent acquisition by Meritage Homes of approximately 123 acres of land for a future single family development. The property is located in the Newell area of NE Charlotte along John Russell Road and represents one of the largest remaining tracts of legacy land in the area, which has been held by two families for generations.
Meritage Homes plans to build 400+ single-family homes on 42’ wide lots. Site development is expected to begin later this year with homes sales planned in the second half of 2026. Home sales will start in the low to mid-$400k’s and will have floorplans that offer three to five bedrooms and range from 1,200 to nearly 2,400 square feet.
“Meritage Homes is excited about the opportunity to offer homeownership to future Charlotte residents in such a highly desirable location. In addition to the on-site pool amenity, the community will offer convenient access to employment centers, schools, shopping, local dining, and entertainment” said John Lintner, Meritage’s Vice President Land Acquisition.
Justin Holofchak of MPV Properties represented the Sellers.
