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The Charlotte Observer, N.C., Doug Smith Column.

Knight Ridder/Tribune Business News

By Doug Smith, The Charlotte Observer, N.C. Knight Ridder/Tribune Business News

Feb. 2--HOUSES TO SPROUT AROUND STONEBRIDGE: A low-profile Charlotte real estate investment and development company is launching what promises to be a high-profile, 551-home golf course community in Union County.

The project is unusual in several ways:

-- Developer US Land Investments LLC is acquiring the residential development rights to 500 acres around Stonebridge Golf Club, which opened for play about five years ago.

Normally, developers approach such projects from the opposite direction, seeking to maximize home sales by squeezing in a golf course among the lots. …

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