Luxury homebuilder pays $4.9 million for 113 acres.
Luxury homebuilder Toll Brothers is the second single-family residential developer to buy property at E-Town, the undeveloped Southside property along Florida 9B in southern Duval County.
Toll Southeast LP Co. Inc. paid almost $4.9 million for 113 acres along R.G. Skinner Parkway in a sale completed Wednesday.
There was no statement of how many homesites that would comprise, although David Weekley Homes, the first builder to buy in E-Town, bought 111 acres and plans 143 homes.
Toll Brothers bought the property from Eastland Timber LLC, led by Vice President Jed Davis. The site is east of Interstate 295 and Florida 9B along E-Town Parkway, also known as R.G. Skinner Parkway.
Roger O’Steen with The PARC Group, which is developing E-Town on property owned by the Davis family, said Toll Brothers planned a single-family community.
A Toll Brothers spokesman had no comment Thursday.
Toll Brothers, based in Horsham, Pennsylvania, calls itself America’s Luxury Home Builder. In Northeast Florida, it is developing in nine communities and plans a 10th in Nocatee.
Average starting home prices range from $333,995 to $743,995, according to tollbrothers.com.
On Jan. 31, David Weekley Homes bought 111.28 acres for $6 million from Eastland Timber LLC.
Keith Donnelly, land acquisition manager with David Weekley Homes, said the parcel will be a gated community of 143 homesites that are 50 feet wide and 79 that will be 60 feet wide.
He said the land will be developed as a joint venture between David Weekley Homes and ICI Homes. He said he expected to have David Weekley model homes under construction before the end of the year.
Donnelly said 36 acres of the parcel will be preserved as conservation area and parks will be included in the community development.
O’Steen is chairman and founder of The PARC Group, which develops Davis family property. He said previously that several builders are working on preliminary plans and permits for neighborhoods within E-Town.
E-Town comprises Davis-owned land east and west of Florida 9B.
O’Steen said a master community plan is under development to include parks, amenities, electric-cart paths, walking trails, neighborhood shops, restaurants and job centers.