VennTerra Pays $8 Million for 75-Acre North High Point Parcel

VennTerra, a Graham-based land development company, paid $8 million for 75 acres of mostly undeveloped former farmland at 124 Old Mill Road in north High Point, with the transaction occurring on or about March 13, 2026.

The seller was LeoTerra Development of Kernersville, which had acquired the same parcel in 2023 for $5.7 million after securing a city rezoning to support construction of up to 320 residential units. LeoTerra never moved beyond site-grading plans before putting the property back on the market, leaving the land substantially undeveloped despite holding it for roughly three years.

The conditional RM-5 zoning district LeoTerra obtained remains attached to the property after the ownership transfer. That designation permits a mix of single-family lots, townhomes and twin homes, but one of the zoning conditions explicitly prohibits apartments, a restriction that carries forward to any future development VennTerra pursues on the site.

VennTerra has not submitted any official development plans to the city since acquiring the parcel. The company's website describes a substantial Triad footprint, reporting that it has developed more than 4,000 single-family lots across the region and has an additional 3,000 in various stages of development. VennTerra sells some of those lots directly to homebuilders and also operates its own construction division, giving it the option to build homes on the Old Mill Road site rather than simply entitling and flipping the land.

The $8 million price represents a roughly 40 percent premium over LeoTerra's 2023 acquisition cost, a gain that reflects both the value of the rezoning already secured and the broader appreciation in entitled residential land across the Triad over the past few years. Whether VennTerra will activate the site under the existing RM-5 zoning or seek modifications before breaking ground remains to be seen, as no plans have yet reached the city's planning department.