Print
Real Estate - Residential

Developer Buys 1,137 Acres In Brunswick County

By Cece Nunn, posted Jul 9, 2021
A developer recently bought more than 1,100 acres in southern Brunswick County that could one day hold hundreds of homes.

Thomasboro Landco LLC, an entity associated with Alabama-based Criteria Development, purchased 1,137 acres from Stone Farm Investment LLC and other LLCs of the Williamson family, according to a Brunswick County deed and the state corporations division.

Stone Farm Investment LLC is managed by LaDane Williamson and DeCarol Williamson, state records show.

The property, off Thomasboro Road and N.C. 179 near Calabash, sold for a little over $18 million, according to the deed.

A Criteria Development proposal for a project dubbed Stone Farm involves 1,009 acres that could contain nearly 1,800 homes, 363 townhomes and about 45 acres of commercial development. 

Brunswick County planning officials have approved the plan.

“The project is proposed to be developed in as many as 14 phases,” a Criteria Development report stated. “We would expect full buildout of the development to take anywhere from 7-10 years, depending on market conditions. Construction is anticipated to start near the end of 2021. We anticipate the first phase would start along the northernmost portion of the project, although that is subject to change.” 

Answering the question, “What kind of commercial development are you proposing?” Criteria officials said in the report, “We do not plan to develop the commercial areas. We just sell the parcels to individual developers and they decide what they want to build. We have no say in the type of development.”

Criteria Development’s projects are developed as homebuilder D.R. Horton communities, according to Criteria’s website.

“The company is committed to growing its inventory in North Carolina, South Carolina, Florida, Louisiana and Alabama,” the website stated. “We pride ourselves on being a fully integrated development company, from planning, acquisition and construction.”

Hansen Matthews, partner in Wilmington-based commercial real estate firm Maus, Warwick, Matthews & Co., represented the buyer in the 1,137-acre purchase.

“This is one of the premier large residential tracts remaining in this part of the state, featuring a highly desirable location within minutes of Sunset Beach, Calabash and several golf courses. We scoured the entire county for an off-market opportunity such as this one,” Matthews said. “The developers have established a solid reputation elsewhere in the state and it will be a good thing for our area to have them operational in Brunswick County.”
Ico insights

INSIGHTS

SPONSORS' CONTENT
Dave sweyer 300 x 300

RENTAL PROPERTIES: TO FURNISH OR NOT TO FURNISH?

Dave Sweyer - Sweyer Property Management
Jc300 dsc 2735

Did We Waste This Disaster?

JC Lyle - Wilmington Area Rebuilding Ministry
Capefearrealtors tomgale headshot

How REALTORS® Can Help With Home Safety Issues

Tom Gale - Cape Fear REALTORS®

Trending News

Report 'sheds Light' On Region's Economic Inequality

Cece Nunn - Sep 15, 2021

Market Street Shopping Center Under New Ownership

Cece Nunn - Sep 17, 2021

Wilmington Startups Form 'cool' Partnership With Financing Tool

Johanna Cano - Sep 15, 2021

ILM Bucks Dip In Air Travel Demand

Jenny Callison - Sep 15, 2021

DBA, City Of Wilmington Discuss Creation Of Outdoor Social District

Jenny Callison - Sep 17, 2021

In The Current Issue

MADE Winners: Functional Product Category

Cape Fear Solar Systems, ComfyChemo LLC and Craftspace Inc. are winners in the MADE Awards Functional Product Category...


Store Owners Share Basketful Of Hopes

Not only will it offer fresh, locally sourced meats, produce and dairy products, but the business will also have an open kitchen where baked...


MADE Winners: Manufacturer Category

Cape Fear Catamarans, CDB Corp. and Mojotone were winners in the MADE Awards Manufacturer Category....

Book On Business

The 2021 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100