Created on Monday, 25 April 2011 10:23
After a long delay, a developer is moving forward with plans for a new residential community in Towamencin. The township supervisors recently approved final plans for Thorndale, on Allentown Road across from the Towamencin Shopping Village. The plans call for 126 carriage homes on 43 acres. WB Homes Land Acquisition and Development Director Chris Canavan says the company will build the project in two phases.
“In the economy that we’re facing right now, financing for land development projects has become more difficult and challenging, and we’ve found that it’s easier to approach banks with more of a bite-size chunk for a project, which would have 63 units and the requisite site improvements that go with that, rather than the entire job.”
WB Homes received preliminary approval more than two years ago, and then came back nine months later asking for permission build more but smaller units. The supervisors told the developer to build the project they approved earlier, and now that is finally happening. Ground should be broken in the fall of this year or the spring of next year. The carriage homes will sell for about $350,000.