Burlington Housing Development Huffman Point Obtains Funding
Huffman Point, a Burlington housing development, has obtained funding.
The City Council approved contiguous, voluntary annexation for the property off Grand Oaks Boulevard on March 19. Now, Trez Forman Capital of Palm Beach, Fla., has provided a $16 million financing package, the company said Thursday, May 6. The borrower is Burlington Grand Oaks LLC, a subsidiary of Diamondback Investment Group.
Fixed Point Homes plans to build 65 single-family detached homes at 3040B Longpine Road. About $3 million will go into preparing the 49-acre parcel.
Huffman Point will feature four floor plans, all approximately 2,800 square feet. Each will have three or four bedrooms, and two and a half or three bathrooms. Prices will start at $327,000.
Trez Forman also is financing 183 garden-style apartments and retail space on St. Marks Church Road with a $20.5 million loan.