Hasentree was forced into bankruptcy last year. Before it went under, the luxury development featuring a Tom Fazio designed golf course offered new homes starting at $800,000. As part of the purchase, Toll Brothers acquired all of the unsold home sites and amenities, including the golf club.
"Hasentree is a magnificent community and will be one of the crown jewels for Toll Brothers," said Tom Anhut, Raleigh Division President for Toll Brothers in a news release. "Toll Brothers is committed to providing residents, club members, and future homeowners with the finest residential and golf community in the Triangle."
With the announcement, Toll Brothers is betting on better times ahead for the housing market.
"Toll Brothers has believed in the Triangle in the past, we believe in it now, and we believe in it for the future," said Anhut.