A 43-acre Parkesburg site approved for 323 townhomes has been acquired by Forestar Group, a D.R. Horton subsidiary, for $11.6 million, writes Ryan Mulligan for the Philadelphia Business Journal.
Parke Mansion Estates was originally envisioned in 2005, to be a commercial development to replace the quarry. However, in 2009, a revised version without the commercial component received approval.
Those approvals have been extended every five years, and in recent weeks, the plan was presented again to the Chester County Planning Commission, indicating that the project may soon move forward.
Currently, an active adult community in the Lehigh Valley is the only Pennsylvania property in Forestar’s portfolio. According to its website, the company “primarily acquires entitled real estate and develops it into finished residential lots for sale to homebuilders.”
Forestar reported 14,420 units sold in fiscal 2025, which concluded on Sept. 30, and delivered more than 13,800 residential lots during the most recent calendar year.
Spanning more than 43 acres of mostly wooded land, the Chester County site is planned to include several roads that will be built across the property to connect with Main Street and Church Street in Parkesburg.
Read more about Forestar Group acquiring 43 acres in Parkesburg in the Philadelphia Business Journal.
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