448-home development proposed in undeveloped area of southwestern Wake County

Aaron Sánchez-Guerra
·2 min read

Plans for a large single-family housing community are underway in a largely undeveloped but growing part of southwestern Wake County, as builders work to meet Triangle real estate demand in the long term.

A 232-acre development titled Gracewood with 448 detached single-family homes is part of a project from Raleigh-based Community Properties, which has submitted preliminary plans for it.

Development plans say the homes will have a maximum of 5,500 square feet with prices that will range from $450,000 to $950,000.

The first phase of construction will build 20 homes by 2022 with construction continuing into 2025.

The development will be at the intersection of U.S. Highway 1 and Horton Road in an area that was annexed into the town of Apex. The area is part of New Hill, an unincorporated community.

Jack Morisey, CEO of Community Properties, told The News & Observer in a message that several details have yet to be square away before the large residential project goes public.

A home building company hasn’t signed onto the project yet and exact home prices are to be determined, he said.

Morisey couldn’t be reached by phone to comment on additional development details and the demand for housing in southern Wake County.

Not far from this site, an Apex development map shows plans for an even larger residential community on 141 acres.

National homebuilder M/I Homes was granted a rezoning request last year for a 520-home development at 3108 Olive Farm Road, also off of U.S. Highway 1. It is set to break ground next spring.

The company previously announced that it will have a mix of single-family homes and townhomes and partner with Habitat for Humanity to build 15 homes at more affordable prices.

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