Toll Brothers to purchase River Road housing site

Toll Brothers, Inc., the residential and commercial real estate development giant, will purchase the Greyrock Companies' residential development site on River Road, Wilton First Selectman Bill Brennan announced this morning.

The transaction is expected to close before the end of the year, his announcement said.

The sour economy put a halt to construction on the Greyrock site in late 2007, which had been approved for 20 single-family homes.

The town's plan with Yankee Gas to expand natural gas distribution further into Wilton was a significant factor in Toll Brothers' investment planning, Mr. Brennan said.

Toll Brothers has a presence in 20 states, building high-end single-family homes, carriage homes and town homes.

"The Town of Wilton is pleased to welcome Toll Brothers to our community," Mr. Brennan said.