DALLAS--(BUSINESS WIRE)--Dallas-based Reeder Land Development Company (“Reeder”), a division of Reeder Capital Partners, today announced the acquisition of approximately 348 acres in Fuquay-Varina, Harnett County, North Carolina, for the development of a new single family residential planned community within the Town of Lillington ETJ. Reeder purchased and plans to develop the land under its wholly-owned subsidiary, Matthews Landing Development LLC. Plans include up to 940 single-family homes and townhomes located just north of Harnett Central Road and just east of the US401N and State Road 2215 Highway interchange. Reeder has entered into an exclusive contract for this project with the Terramor Homes division of D.R. Horton, Inc., the nation’s largest homebuilder. Construction is currently expected to begin before year end.
“The central region of North Carolina, and just about anywhere within an hour of the Raleigh-Durham Research Triangle, has shown consistent and dynamic growth, even during the pandemic,” said Bryan T. Reeder, Co-Founder of Reeder. “With Apple’s announcement this past April of a new $1 billion-plus corporate campus, plus Google’s announced new engineering hub - along with the thousands of high-paying jobs these corporate giants are expected to create - new business opportunities and home values in this region continue to outpace many areas of the country.”
The new community, currently named Matthews Landing, is expected to be built in three phases, with scheduled completion expected in late 2024/early 2025. The first phase of approximately 220 homes is scheduled to be completed in late 2022.
Ben Lunnen, Division President for D.R. Horton Central Carolina, said, “The Reeders have a long history of real estate investment and single-family residential lot development, including for D.R. Horton in other markets. We are excited to have them enter our market and begin development on one of our newest communities, Matthews Landing.”
About Reeder Land Development Company
Based in Dallas, Texas, Reeder Land Development Company is a wholly-owned division of Reeder Capital Partners LLC. Reeder Land Development was co-founded by brothers Bryan and Chris Reeder, the grandchildren of legendary Texas capitalist H. R. “Bum” Bright. As a master planned single family residential community developer and construction manager, Reeder Land Development is primarily focused on the acquisition and development of lots for national and large regional home builders in the entry to mid-level homes market segment. Reeder Land Development concentrates on building infrastructure and finished lots for master planned communities across the Southeast and Southwest United States. For more information about Reeder Land Development Company and Reeder Capital Partners, see: www.reedercap.com/real-estate.
