KERNERSVILLE, NC-The Hommel Group, with offices in New York and North Carolina, has broken ground on Caleb’s Creek. The 1,000-acre mixed-use development carries an estimated $800-million project value.

Plans for the project, being developed on Teague Road south of Interstate 40 on the former Pine Tree Golf Course, call for an 18-hole golf course with clubhouse and sports facility center, 6,000 residential units, two hotel sites and 107 acres of commercial land. The residential units will be a mix of townhomes, single-family homes and apartments.

Hommel Group acquired the project from a development group led by Wally Freemon and Jim Brady in October. Terms of the sale were not disclosed. The New York City-based Kaufman Organization arranged the sale of the project. “The deal was in its mid-phase when Kaufman was brought into the transaction and managed to arrange the sale within seven business days,” says the Hommel Group principal Dan Hommel.

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