M/I Homes Buys 220 Acres in Suburban Charlotte

M/I Homes continues its expansion in the Charlotte region with a project that aligns suburban ease and urban energy.

The Columbus, Ohio-based homebuilder recently purchased 220 acres in Locust for Amber Glen, a 184-home community that represents its first foray into Stanly County, the Charlotte Business Journal reported. The price wasn’t revealed.

Development on Amber Glen will begin this month at 504 North Central Avenue, with floor plans ranging from 2,700 to 3,600 square feet with three to five bedrooms. Sales are anticipated to open in the first quarter of 2026.

Amber Glen is near Locust’s downtown area, which includes Locust City Park and City Hall. The walkable distance to parks, restaurants and local businesses also ensures that residents can enjoy a strong sense of community and easy access to amenities.

Amber Glen builds on M/I Homes’ recent acquisitions, such as the 123.5-acre site in Mooresville for 201 single-family homes and 112 townhomes. The company is also developing 800 homes and townhomes in Wingate, Gastonia and York. It recently received zoning approval to build 230 townhomes in Kannapolis.

Home prices in Charlotte have risen nearly 45 percent since January 2021, according to Hendrix Properties. But it is still affordable compared to major metros like New York or Washington, D.C. The metro’s median sale price was $415,000 last month, according to Redfin.

Columbia, South Carolina-based homebuilder Mungo Homes’ expansion into the market earlier this year will bring two projects: Sloan Station in west Charlotte and Lakeview Village in north Charlotte. That will deliver nearly 100 homes ranging from 1,250 to 1,700 square feet, priced above $300,000.

— Andrew Terrell