The former Eisenhower Elementary School site in Levittown has found its new owner in Pulte Homes, which plans to build 66 townhomes on the 14-acre property, writes Paul Schwedelson for the Philadelphia Business Journal.
The developer paid $4.1 million to CIBC Foundation for the site. Over the past decade, the former elementary school has been an adult day care and food bank.
The development project has already received all necessary approvals from Middletown Township. The process was undertaken by Fort Washington-based Westrum Development, which never acquired the land. In addition to purchasing the site, Atlanta-based Pulte Homes reimbursed Westrum for costs incurred during the approval process.
Pulte Homes, a subsidiary of PulteGroup, will price the townhomes starting in the upper $500,000s.
According to Pulte Homes Northeast Corridor Division President John Evans, there is a “significant under supply of reasonably priced housing” in Bucks County.
“Bucks County has always had a great location, great commuting corridor into Princeton, New Jersey, and, obviously, into Philadelphia,” he said. “So, it’s always attractive, and I believe bringing something new to market at this price point will be a very compelling proposition for people.”
Read more about the planned development in Levittown in the Philadelphia Business Journal.
