Luxury home builder Toll Brothers on Monday said it plans to build nearly 900 homes in West Virginia’s Martinsburg market, a suburb of Washington, D.C.

The builder has plans to build 895 homes in five single-family and town home collections located off Delmar Orchard Road in Martinsburg, targeting those who work near D.C. The master-planned community of Martinsburg Station is slated to open in early 2006.

The Horsham, Pa.-based company has been building homes in the Washington, D.C., area for more than a decade, Chairman and CEO Robert Toll said.

West Virginia is linked to the major employment centers of the metro D.C. area, including the I-270 Technology Corridor in suburban Maryland and the Dulles Technology Corridor in suburban Virginia, by an excellent transportation network, including I-81 (north/south) and I-70 (east/west) and the MARC commuter train to downtown D.C.

Toll Brothers serves move-up, empty-nester, active-adult and second-home buyers and operates in 20 states.

The company earlier this month cut its national sales forecast for 2006, citing moderating home prices, softening demand and a tougher regulatory environment. The company estimates delivering between 9,500 and 10,200 homes in fiscal 2006, down from its previous guidance of 10,200 to 10,600 homes.

After falling 4.2 percent at stock market close Monday, Toll Brothers shares (NYSE: TOL) were up 4.1 percent this morning, trading at $36.44.

***

Send tips or a Letter to the Editor to jessica@inman.com or call (510) 658-9252, ext. 133.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription