M/I Homes Proposal Could Bring 500 New Homes to Southwest Wake County
Columbus (OH)-based M/I Homes has filed plans for a massive development set on 140 acres in southwest Wake County.
The project is expected to have up to 520 units on a stretch of mostly undeveloped land near 8829 New Hope Farm Road on the western edge of Apex, and north of U.S. Hwy. 1 and New Hill.
As of now, M/I is proposing a mixture of townhouses and single-family homes, all of which containing solar conduits for the installation of rooftop solar panels. Additonally, no commercial use buildings will be permitted as part of this development.
The official filing with the city of Apex call for the project to be built out in multiple phases spanning 5-6 years, with the first phase anticipated to begin in early 2022.
Currently, M/I Homes is one of the most prominent residential builders in the coveted Triangle area. In 2018, the company closed a total of $175 million in contracts with an average sales price of $433,000 for each home.
In the last few years, the developer has completed several communities in the Raleigh and Holly Springs areas while also paying more than $13.7 million to several families and various business entities for 152 acres worth of land, according to NC county property records.