UPDATE: Story includes information about the Realtor selling the remaining lots in the subdivision.

A Wilmington-based builder will build on the last eight lots in a Hampstead subdivision.

Samm Jernigan, president and CEO of Jernigan Homes, said his firm has two homes under construction on the remaining lots in the Graystone housing development. 

Officials closed on the property in late October for an undisclosed amount.

The new homes are under construction along Center Drive inside the development off Washington Acres Drive. The homes are priced from the low $300,000s, with the first residence expected to be available in late spring.

Sandy Monroe, a Realtor with Coldwell Banker Sea Coast Advantage, is the exclusive Realtor for the remaining lots in the development.

Jernigan is no stranger to the area’s housing market.

Last summer, he partnered with Wilmington-based homebuilder Charter Building Group to purchase lots in the formerly defunct Andrews Reach subdivision off Masonboro Loop Road.

Jernigan said Hampstead was ripe for development, which prompted him to purchase the remaining lots.