It could get more expensive to live in East Manchester Township, at least for those planning to buy homes in the Rolling Meadows development.
Lower Paxton Township-based Triple Crown Corp. recently purchased the developing community off North George Street in the Northeastern School District from an outside investor who was looking to “cash out” with no other local holdings, said Jim Koury, part of the team at RSR Realtors who handled the deal.
Triple Crown bought 160 improved lots from SCC-Canyon II LLC, who purchased the community at a distressed sale about 10 years ago.
Home prices may go up as Triple Crown sells the lots at a premium to Manheim Township-based Keystone Custom Homes Inc., who stepped in two years ago as the sole builder to revive the community.
Homes in the community, which is planned for 237 homes, start around $190,000, according to Keystone’s website.
Regional home prices have been on the upswing as the housing market has recovered from the recession over the last five years. A tighter supply of existing homes in the for-sale market also has put more pressure on builders.