FOXFIELD

Location: Bethel Township, PA
Community: 232 Active Adult Single, 155 Townhome, and 126 Villa, Clubhouse Community
Average Sales Price: Single - $357,000
Townhomes - $269,000
Villas - $235,000
Acquisition Date: October 2003
Exit: Direct Sales to Homeowners
Exit Date: Ongoing

Market Opportunity:
Mixed use active adult clubhouse community located in desirable Delaware County, PA. This highly successful infill, brownfield development is built on the site of a former Sunoco oil tank farm. The site was attractive because it was one of the last remaining pieces of land available in highly developed Delaware County, PA. McKee was able to capitalize on its prior success at its Fox Hill Farm community.

Investment Approach:
  • Purchased approved land from another developer.
  • Installed improvements on a phased basis to have lots ready just -in -time to coincide with home sales.
  • Sold and constructed homes.