Deerfield is located approximately 1.6 miles from the intersection of Providence Road and Highway 51 next door to Providence High School. The site is part of a 68-lot subdivision that had been fully approved and had the construction drawings completed. Carolina Capital (CC) purchased 31 lots of the 69 lots. The seller retained the other 38 lots and have no current plans to do anything with them.
CC’s strategy was to develop the lots and sell them to a national homebuilder. CC had great interest from numerous builders. CC selected one of the largest and best-capitalized builders in the country. The lots were sold on a takedown basis to the builder beginning in June 2015 and takedowns ranged from four to five lots per quarter.