Lakewood Ranch Real Estate Market Attracts Major Development
by Andy Newton
Lakewood Ranch, currently ranked number 9 among the best-selling communities in America, has long been a hub for local builders looking to construct high-end, luxury home communities, even during the troubling years of the recent housing crisis. Now with the real estate market rebounding, however, and renewed buyer demand putting prices on the rise, the Lakewood Ranch real estate market has begun to draw major developers, already boasting three of the top 14 national home-builders by closings, according to Builder Magazine.
NATION’S TOP BUILDERS MOVE IN
Several of the nation’s top real estate developers have laid plans for construction in the area, offering what will be a diverse product line for homebuyers. Taylor Morrison, currently ranked number 14 nationally, is setting out on the Esplanade Golf & Country Club, and D.R. Horton, ranked number 1, plans to build on a limited basis in Greenbrook Village.
It is home developer Lennar, however – ranked number 3 in the nation – that has put in motion the most considerable construction plans in Lakewood Ranch, projecting to build a wide variety of luxury homes in the area. Their “Manor” home, priced from $299,990, will be 2,245 square feet, with four bedrooms; while their “NextGen” model, designed especially for families with multiple generations under one roof, priced from $369,990, will be 3,828 square feet, with five standard bedrooms and an additional one-bedroom, one-bathroom apartment for grandma. Lennar will also build Estate homes, priced from $369,990, at 2,394 square feet.
Locals Welcome Big Real Estate Developers
Over the past decade and a half, Lakewood Ranch has been a terrific site for local real estate developers to enhance their reputations, not to mention their market shares. The arrival of such major homebuilders as D.R. Horton and Lennar, though, will by no means prove a disadvantage to nearby firms. In fact, local developers are welcoming the national attention.
Lakewood Ranch is a rich, diverse community in terms of development, with a plethora of different style homes for refined, niche tastes. Major companies like Lennar and D.R. Horton offer various specialized product lines, which would not necessarily compete with the models offered by local builders. If top ranked firms move into the area, it will attract national interest, which will only make sales in the community more fruitful. Mike Storey, an executive for Southwest Florida’s Neal Communities, believes the onset of major development is, if anything, a good sign: “When national builders are willing to reinvest in the market, it shows confidence in the overall marketplace.” New development further indicates that the real estate market is once again on the upswing.
(Information cited from http://realestate.heraldtribune.com/2013/07/27/lakewood-ranch-draws-in-the-big-builders/)
About LeahLeah has been a Florida resident for the past 24 years, a licensed real estate agent for over 16 years and a Sarasota resident for over twelve. She has raised her two daughters, Renata and Curstin, in Sarasota with her husband Christopher. Leah enjoys spending time with her husband, children and son-in law.My Google Profile+ View all posts by Leah →
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