SearStone Reaches Goal for Pre-Sales of Homes
SearStone, a not-for-profit continuing care retirement community (CCRC) planned for Cary, has achieved a major milestone by reaching the 70-percent presales requirement that is the typical standard set by prospective bond investors before construction can begin. As a result, SearStone has initiated the process to complete the proper bond documents, feasibility study and Preliminary Official Statement, and hopes to break ground for new housing this fall.
"My family and I have waited a long time for this day," said SearStone founder Bill Sears, "and we are extremely pleased ...