When it comes to real estate, there is no more sound advice than “it’s all about location, location, location.” Community by community, Toll Brothers has established a reputation for building in some of the most sought-after locations in the country. From Orange County, CA, to New York City, buyers seek out our homes because they are built right where they want to be.
To find the quality land in the right location, we are always on the lookout for great land where we can develop our next luxury home community.
Often we are asked what we look for in a prospective land purchase. According to our land acquisition managers, it’s important to take the following considerations into account during the process:
Zoning: It’s important to know how land can and cannot be used based on zoning approvals by the local municipality. Toll Brothers is looking to acquire land that is zoned for single-family (20+ lots), townhomes/carriage homes (30+ townhome/carriage home units), condo flats (50+ units), and active-adult communities, as well as rental housing or student housing in areas that accommodate luxury developments.
Acquisition of Existing Projects: Sometimes circumstances change for builders and developers, and there is a need for another to take the reins. Toll Brothers will buy approved projects, projects currently in the approvals process, and properties which require planning board approvals. With rare exception, Toll Brothers is not looking for properties which require a zone change to residential.
Purchasing: It helps to know how we purchase the properties on which we build. Toll Brothers purchases properties on a per lot or per unit basis (as opposed to per acre) and only closes after subdivision or site plan approvals have been obtained.
“Out-of-the-box” opportunities: Sometimes it takes a keen eye or creative thinking to see the potential in available land, but that can lead to some interesting and exciting projects. If you know of a golf course, gardening center, beach or yacht club that is going out of business, or a corporate headquarters or office complex that has closed down, Toll Brothers may be interested.
If you or someone you know owns a property that has potential to be a Toll Brothers community, reach out to our land acquisition team for evaluation. We may just be the buyer you’ve been looking for. Email SocialMedia@tollbrothers.com with your contact information and the region where the property is located and the appropriate regional land acquisition manager will contact you to discuss.