Toll Brothers to resume building in Baltimore area

Real Estate Watch

March 09, 1997

Luxury homebuilder Toll Brothers Inc., which last built in Baltimore and Howard counties five years ago, announced it will return to the area and has hired a former executive with Ryland Homes to head its expansion.

John Flaherty will serve as regional manager. Flaherty worked the last three years with Regency Homes as its regional manager. Before that he spent six years with Ryland as division president for the Baltimore area. He also worked 12 years with Ryan Homes.

"This is somewhat of a return for us after establishing ourselves in the Washington area. This is part of a nationwide expansion that we are undergoing," said Kira McCarron, vice president of marketing for the Philadelphia-based company.

Flaherty said the company is looking for areas to develop in the Greenspring and Hunt Valley areas as well as several parcels in Howard County.

He expects Toll Brothers to be involved in eight to 10 Baltimore-area communities on a continuing basis in the future. Prices for townhouse communities should be in the $180,000 range and detached homes between $250,000 and $400,000, he said.

The company is currently building in Annapolis Preserve in Crownsville.

Toll Brothers completed its portions of Greenspring Hunt in northern Baltimore County and Burleigh Manor in Howard County in 1992.

Since that time the company's revenues have more than doubled, according to McCarron, going from $281 million in 1992 to $760 million in 1996.

Pub Date: 3/09/97

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