Duncan Commercial Real Estate Closes Sale of 147-Acre Penn Run Golf Course Property
Duncan Commercial Real Estate is proud to announce the successful sale of the 147-acre Penn Run Golf Course property to Elite Homes/Arbor Homes. The transaction, which closed on July 27, 2026, represents one of the largest residential land sales in the Louisville market this year.
The former golf course will be redeveloped into a master-planned residential community featuring more than 400 single-family homes. Located in one of southern Jefferson County's fastest-growing residential corridors, the development is expected to help meet the area's continued demand for housing while providing residents with convenient access to employment centers, shopping, schools, and major transportation routes.
The property was marketed and sold by Will Duncan, President of Duncan Commercial Real Estate, and Suzanne Cheek, Senior Vice President of Land Sales, who represented the seller throughout the transaction.
"The sale of Penn Run represents an important milestone for both the property and the surrounding community," said Will Duncan. "The property received strong interest from the development community, and Elite Homes/Arbor Homes presented a vision that will transform this site into a high-quality residential neighborhood while providing much-needed housing for Louisville."
Suzanne Cheek noted that the transaction was the result of years of dedication and collaboration.
"Penn Run was a unique property with tremendous development potential," Cheek said. "The competitive marketing process demonstrated the strength of the residential land market, and we're pleased to have helped bring together the seller and a respected homebuilder to achieve a successful outcome. While the transaction took time due to infrastructure challenges, we're excited to see the property move forward as a valuable addition to the community."
The transaction capped nearly five years of work by the Duncan Commercial Real Estate team. Throughout the marketing process, the property attracted significant interest from both regional and national developers, generating multiple competitive offers before the seller selected Elite Homes/Arbor Homes.
"This closing is a testament to the persistence, market knowledge, and strategic approach of our team," said Duncan. "Complex land transactions often require patience and long-term commitment, and we're grateful to have helped our client achieve a successful outcome."
Duncan Commercial Real Estate congratulates everyone involved in bringing this project to completion and looks forward to seeing the future neighborhood take shape in the years ahead.