Stalled Summerlyn Subdivision Gets New Life

Town officials have struck a deal with a Raleigh development firm to revive the stalled Summerlyn Subdivision on Glen Laurel Road.

Work could begin soon on up to 52 new homes, along with a greenway and amenities package that was dropped when the original developers went bankrupt and lost the property to foreclosure. The deal got the blessing of the Clayton Town Council earlier this week.

The Raleigh firm, Granite Land and Timber Company, managed by David Stallings and Steward Marlowe, acquired the 124-acre subdivision from SunTrust Bank recently with the intent to get the development, which is only about a quarter built out, going again. The subdivision, as presently designed, contains 305 building lots, with 210 remaining to be developed.

The developers said the greenway and amenities package should be completed by June of next year.

The deal calls for the town to issue up to 52 building permits and provide utility service contingent upon the developer initiating work on the amenities and posting financial security.