Catching up with one of APG’s Veteran Land Brokers

Philip Matthews, Vice President of Land & Investment Sales

Any new projects you’d like to share news and updates about?

It was recently made public that Storyliving by Disney is partnering with DMB Development based out of Arizona to develop a Disney-themed community in Chatham Park in Pittsboro, called Asteria. Spanning 1,500 acres including significant frontage along the Haw River, Asteria will feature as many as 4,000 residential units.

I introduced DMB Development to Preston Development, the developer of Chatham Park. DMB is a great outfit with a 30-year track record of developing extraordinary communities. I am pleased that they selected Chatham Park in Pittsboro, NC as the site of their first east coast project. Asteria will be among the biggest residential developments in the state of North Carolina. It’s thrilling to have contributed even a small part to this exiting project. It’s a big win for Chatham Park and the greater Triangle region.

Disney and DMB have started their process of selecting builders for Asteria. Home sales are planned to begin by 2027. I will update you on progress as details unfold over the next months.

What type of client do you work with? 

I represent both land buyers and land sellers; large regional builders, national builders, local land owners and corporate land owners including Weyerhaeuser Real Estate, International Paper Realty Corporation and Preston Development.

 What region do you work in?

From the Piedmont Region to Southeast North Carolina. I like to specialize in the outer areas of the Triangle – Harnett, Lee, Chatham and Alamance Counties.

What should a potential client know about you?  

A land buyer wants to pay the least possible. You, the land seller, want to maximize your price. The way you do that is by putting your land in front of all potential buyers, not just the first buyer to come along. You need an experienced land advisor to help you navigate that process. After 38 years, I know all the buyers. All of them.

Is there any aspect of my commercial property that will deter buyers? 

You’ll have difficulty selling your land if your price is unobtainable for the yield of the property, meaning the maximum number of units for that site’s highest and best use. I can help you. I’ll provide you with a free evaluation.

What would you say has been your trophy transaction? 

A 2,200-acre parcel in Chatham County, the former Chapel Ridge Golf Course, that was then developed into a residential golf community. I represented the seller, International Paper Realty Corporation.

With a wealth of experience, including connecting national mixed-use developers with prestigious regional developments such as Chatham Park in Pittsboro, Philip is dedicated to transforming landscapes and communities. Follow him on Linkedin for insights into his latest ventures and expert guidance in land investment and development.