Hampton Hall will have town homes, condos and single-family residences priced from $350,000 to $600,000. The site is along Buckwalter Parkway, just off Hilton Head in Bluffton, SC, Beaufort County.
Toll is joint venturing the project with Hilton Head-based BHR Investments Inc. whose principals, John Reed, Gary Rowe and Tom Zinn, have 45 years of combined experience in the Hilton Head luxury home development market, according to a prepared statement from Toll chairman/CEO Robert I. Toll.
"As the baby boomers continue to mature and demand for empty nester homes and second homes grows, we believe these inter-related markets and communities such as Hampton Hall, offer tremendous growth opportunities for Toll Brothers in the future," Toll says in the statement.
He says the empty-nester market, which Toll has focused on since the early 1990s, represents over 30% of the company's business.
Robert Toll couldn't be reached at GlobeSt.com's publication deadline. But in his statement, he says Hampton Hall is being financed with an undisclosed loan from National Bank of South Carolina to Buckwalter JV LLC, the joint venture formed to develop the gated community.
Construction plans call for an 18-hole Pete Dye championship golf course, two clubhouses, indoor and outdoor swimming pools, six miles of walking trails, eight tennis courts and a 17,000-sf activity center.
Toll, which operates in 22 states, plans to buy at least 180 of the 935 home sites from the partnership over the next four years at an undisclosed sum to develop its own multiple product home lines. The partnership will sell the remaining 755 lots to individuals and other homebuilders beginning in early 2003.
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