Stonehaven Homes has opened sales on luxury houses and condos across Route 202 from Peddler's Village in Buckingham Township. The development replaces the former Penn's Purchase Factory Stores, a site that sat vacant for years after stores closed and buildings were demolished.

The Devon-based builder is selling the first phase of Village Crossing, a mixed-use development on the 14.2-acre property in Lahaska, the Bucks County Courier Times first reported.

The project calls for 18 single-family homes starting at $1.9 million and 18 condominiums starting at $1 million. Homes can include four to six bedrooms and 2.5 to 5.5 bathrooms, according to the developer's website.

Two mixed-use buildings will add 16,420 square feet of retail and commercial space. An existing Victorian house on the property will be restored into four apartments.

Stonehaven Homes President John McGrath III called Village Crossing "a once in a lifetime opportunity," citing its location directly across from Peddler's Village, which draws about 2 million visitors a year.

McGrath paid $3.5 million for the property in December 2017, according to Bucks County property records. He has built homes throughout the Philadelphia suburbs, including in Langhorne and Newtown. Sales come about five years after Buckingham Township approved the mixed-use redevelopment plan.

Penn's Purchase opened in the 1990s as an outlet village anchored by Coach, Brooks Brothers, Bass & Co. and OshKosh. Stores closed one by one. Pipes burst. A building collapsed. The former shops have since been demolished.

Before McGrath, New York City-based Cohen Equities bought the property at a foreclosure auction in 2014 but never redeveloped it, the Courier Times reported.

McGrath said the new development will generate less traffic than the former 100,000-square-foot shopping center. He said last year that the project would also restore about 4.5 acres of green space, with most homes backing onto preserved open space or offering views of Buckingham Mountain.

McGrath told the Courier Times last year that the project would increase tax revenue to the township by seven times.

Sales are open for the first phase of housing. No completion date has been announced.