Preston Development Co. holding ‘lot draw’ for new Cary Luxury Community

Eight of the Triangle’s biggest custom home builder groups were invited to a “lot draw” event at Preston’s Cary office.

Competition for the best new home sites in the Triangle is heating up again.

Preston Development Co. of Cary, is getting ready to break ground on a much smaller project in Cary, a 73-lot neighborhood called Sedgefield.

And in preparation for Sedgefield’s start, Preston invited the owners of eight of the Triangle’s biggest custom home builder groups to a “lot draw” event at Preston’s Cary office.

In a lot draw, the builders put their names in a hat, and the first name randomly drawn gets to choose which lot within the community he wants to build on first, obviously taking the best lot locations first. The second name drawn gets second choice, and so on.

Homesites in Sedgefield, a community that will be built on about 30 acres near the intersection of Morrisville Parkway and N.C. 55 and connecting to Wackena Road, will be a quarter-acre to one-third acre each. Homes will be priced from the $600,000s.

Builders selected for Sedgefield include Rick Barrett of CityScape Builders of Raleigh; Alan Hill and Justin Patsey of Gray Line Builders of Cary; Jimmy Raley of Pegram Residential of Cary; Terry Poythress and Steve Poythress of Poythress Homes of Cary; Wayne Holt of Reward Builders of Holly Springs; Rudy Upton of Upton & Co. of Apex; Randy Walker and Wes Walker of Walker Design Build of Cary; and Kyle Ward and Stephen Ward of Wardson Construction of Cary.

Amanda Jones Hoyle covers commercial and residential real estate for Triangle Business Journal.