Roughly five acres of land slated for townhomes in midtown Wilmington recently changed hands for nearly $11 million.

Pulte Home Company LLC purchased the 5.2-acre site inside The Pointe at Barclay for $10.8 million, according to a deed recorded March 20. Homebuilder Pulte Homes plans to build a 72-unit townhome community, called the Barclay Townes at The Pointe, on the property located near the intersection of Independence and Gallery Park boulevards.

Eric Korsten, president of the Pulte Group’s East Carolina Division, said the land acquisition is a milestone for the project. The firm got involved in the townhome plans in early 2025 after bidding on the developer-driven deal, Korsten said.

“We're generally looking for A-located deals that really speak to the consumer, give them a great lifestyle and sense of community,” he said. “I mean this being within The Pointe, with the movie theater, the restaurants, in a strong location within greater Wilmington, it's just a fantastic opportunity.”

Pulte purchased the site from CC Fund II The Pointe LLC, an entity of Collett Capital, a Charlotte-based real estate private equity firm. Collett developed The Pointe with local real estate firm Cameron Management. 

Property records show CC Fund II The Pointe LLC purchased the site for $3.75 million in June 2025 from Barclay Commons Retail LLC.

Pulte has submitted permits for a model building on the property, which, Korsten said, is expected to go vertical this month. The project’s first buildings are expected to open for sale in the third or fourth quarter of the year, he added.

Construction of the project’s 16 buildings (a site layout is shown below at right) will be phased based on market demand, Korsten said, with full build-out lasting between two and three years. The townhomes will have approximately 1,900 square feet and could have two or three bedrooms, depending on the layout, along with a garage.

Korsten said he expects the Barclay Townes could appeal to young professionals and those looking to enter the homebuying market. Although final pricing is yet to be determined, Korsten expects all-in prices to begin in the high-$400s.

This is Pulte’s second townhome project in the Wilmington market, Korsten said. The homebuilder recently completed the Lakeside Townes at Riverlights, a 33-unit townhome community located in the Riverlights area.

“Our belief is as long as it’s in a really great A-located spot, townhomes really work,” Korsten said. “You’re not going to have a lot of space to buy large tracts of land, so we think these smaller townhome infill deals could really resonate with the market, just letting people, for a lower price point (and) live in a really, really great location versus having to sprawl out.”