6/15/2007

Mangum Design-Build, a specialist in Historically Accurate period homes, has been selected to build in Hasentree, a luxury community adjacent to Falls River in North Raleigh.  The developer, Creedmoor Partners has assembled a preeminent team of builders for Hasentree, which is expected to be a 10-year project.  Land for Hasentree has been quietly acquired over the last 6 years to form one large tract.  On the subject of Hasentree, Kevin Mangum says “It’s the largest project Creedmoor Partners has undertaken, which makes us slightly nervous.  Also, both California and Florida are are experiencing real estate tremors, and they’re usually the first states that signal a housing recession, so our strategy at this time is to acquire some lots and sit tight for a little while.  We’ve never been huge speculative builders anyway.  No sense in building a million dollar home for a client that you don’t have yet.  Having learned lessons from the commercial office market, it’s better to get (clients) lined up before you pull the trigger on a large project.”

Creedmoor Partners has a proven track record of developing beautiful, luxurious neighborhoods in the Triangle Market such as Birklands, Chatsworth, Renaissance at Regency Park, Traemoor Manor, Crossmoor, Devon, Linville, Stonemoor, and their newest development, Hasentree.