National home building company Pulte Home (NYSE: PHM) has purchased 36 acres of undeveloped land on Old Lead Mine Road for  $11.3 million.

The land is thought to be one of the larger infill sites left in north Raleigh.

Pulte is planning 86 single family home lots for a “new age-targeted residential community”. The property is located next to Lead Mine Elementary School on Old Lead Mine Road between Lead Mine and Six Forks roads. Pulte has not yet disclosed details for projected home prices. Based on purchase price the land was valued at $314,000 per acre.

 

(Source: TBJ 2-20-2015)