LeoTerra Development plans 300-lot subdivision in High Point

A Triad developer has added to its portfolio in High Point with the purchase of about 75 acres with the intent to develop a 300-lot subdivision, according to a release from CBRE Triad.

LeoTerra Development, founded by Buddy Lyons, bought the land near the southeast intersection of Skeet Club and Old Mill roads, for $5.7 million.

Brian Craven and Richard Mossman of CBRE Triad represented LeoTerra. Michael Waldrop of Waldrop Properties LLC in Raleigh represented the seller, who was not identified.

Guilford County records show that Frogs Haven Limited Partnership of High Point had ownership of multiple tracts totaling about 75 acres near the southeast corner of Skeet and Old Mill. David Dowdy III, George Dowdy and Arden Feiman are listed as members of the partnership by the N.C. Secretary of State office.

Lyons, president of LeoTerra, did not return calls Wednesday.

Guilford records show that LeoTerra owns 14.7 acres at 214 Skeet Club Road near the southeast corner of Skeet and Old Mill. A spokesperson for CBRE Triad confirmed that corner as the location of the purchased property.

Craven told Triad Business Journal that the official address of the purchased land was 124 Old Mill.

According to the release, LeoTerra has four other communities under development or in planning stages in High Point. That includes a development of 450 units, spread among single-family and town homes near Cox Avenue and Jackson Lake Road,

In 2021, TBJ reported that PulteGroup, the nation’s third-largest home builder, had reentered the Triad market with a High Point subdivision.

“The economic growth coming to our region supports the need for additional housing product,” said Clay Mize, senior director of land acquisition with LeoTerra.

LeoTerra has developed more than 5,000 single-family residential lots and moire 400,000 square feet of Class A Self-Storage Facilities. In addition, it offers third party development and construction services. 

Based in Kernersville, LeoTerra has developed more than 5,000 single-family residential lots and more than 400,000 square feet of Class A self-storage facilities. It also offers third-party development and construction services. 

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