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Toll Brothers Apartment Living® Breaks Ground on The Airedale, a New Luxury Apartment Community in Charlotte

1. Toll Brothers announces groundbreaking of The Airedale in Charlotte. 2. The project features 348 luxury apartment units and upscale amenities. 3. This marks Toll Brothers Apartment Living's first venture in North Carolina. 4. The Airedale is set to open in fall 2026, enhancing TOL's portfolio. 5. Toll Brothers continues to expand its luxury rental market presence.

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Why Bullish?

The new luxury development strengthens TOL's market position and future earnings potential. Similar projects in the past have led to stock price increases due to heightened investor interest.

How important is it?

The announcement signifies strategic growth in an untapped geographic market, enhancing TOL's revenue streams, suggesting a strong likelihood of impact on stock performance.

Why Long Term?

The Airedale is expected to generate revenue post-completion in fall 2026, contributing to long-term growth. Historical data shows that new developments often boost long-term investor confidence.

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CHARLOTTE, N.C., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living®, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation's leading builder of luxury homes, is pleased to announce the groundbreaking of The Airedale, a new three-story, 348-unit luxury multifamily community in Charlotte, North Carolina. The Airedale will be Toll Brothers Apartment Living’s first rental community in the state. The community is being developed as part of a joint venture with International Capital, LLC and financed through a construction loan facility from TD Bank. The recent groundbreaking celebration was attended by Toll Brothers Apartment Living leadership and The Airedale’s development partners. The Airedale is anticipated to open in fall 2026. “We are excited to officially break ground at The Airedale, our first multifamily community in North Carolina,” said John McCullough, President of Toll Brothers Apartment Living. “Toll Brothers Apartment Living is known for building extraordinary communities in thriving locations, and The Airedale will set a new standard for luxury living in Charlotte.” The Airedale will offer a mix of one-, two-, and three-bedroom floor plans. Each apartment home will include luxury finishes and upscale features, including quartz countertops, stainless steel appliances, soft-close cabinetry with under-cabinet lighting, and kitchen islands. The apartment homes will also feature modular closets, private balconies, and smart home technology. Residents will enjoy an 8,200-square-foot clubhouse, adjacent to an expansive pool and sundeck with cabanas, an outdoor grilling and dining area, a hammock garden, and green space with lawn games. The community will offer a 24/7 fitness center with individual workout pods and an outdoor fitness lawn, a catering kitchen and a private dining room, a coworking suite with individual work pods and a conference room, a pet spa and a half-acre pet park, and a coffee and hydration bar as well as on-demand beverage taps. Additional community amenities will include a grab and go market, a package room with cold storage, and community-wide Wi-Fi. “The Airedale represents our commitment to delivering thoughtfully designed communities with elevated living experiences,” said Michael Skena, Managing Director of Toll Brothers Apartment Living in the Mid-Atlantic region. “With modern residences, best-in-class amenities, and a location that puts the best of Steele Creek and Charlotte within reach, The Airedale will offer residents a community defined by comfort, style, and convenience.” The Airedale is situated on a 19.75-acre site located at 13607 Choate Circle in Charlotte. This vibrant area boasts ample dining and shopping, including the RiverGate Shopping Center and Steele Creek Crossing, as well as proximity to outdoor recreation. The Airedale is located near Interstates 77 and 485, and South Tryon Street, giving residents easy access to South End, Uptown, and regional employment centers. To learn more about The Airedale, visit LiveTheAiredale.com. ABOUT TOLL BROTHERS APARTMENT LIVING®Toll Brothers Apartment Living® is the apartment development division of Toll Brothers, Inc. (NYSE: TOL), an award-winning Fortune 500 company, and the nation's leading builder of luxury homes. Toll Brothers Apartment Living brings the same quality, luxury, and service for which Toll Brothers is known to its exceptional rental and mixed-use communities in select markets, including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia, Phoenix, and Washington, DC. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design, and the expertise of America’s Luxury Home Builder®. In 2024, Toll Brothers Apartment Living was named to the National Multifamily Housing Council’s Top 25 Largest Developers list, the fifth year it has been so recognized. The firm has completed over 10,000 units nationally, with more than 18,000 units in production. For more information visit TollBrothersApartmentLiving.com. ABOUT TOLL BROTHERSToll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 58 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations. Toll Brothers has been one of Fortune magazine’s World's Most Admired Companies™ for 10+ years in a row, and in 2024 the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com. From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Contact: Andrea Meck | Toll Brothers, Senior Director, Public Relations & Social Media | 215-938-8169 | ameck@tollbrothers.com Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3fbb8e82-aaf6-44a7-81ca-b0ac87510eec https://www.globenewswire.com/NewsRoom/AttachmentNg/ed6ff19a-7006-4d8a-b32f-56e4460a25f1 Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)

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