If you have questions or want to speak to one of our Realtors about purchasing a home in a new-build community, you can contact us here.
It is no secret that buying into a new-build community is an increasingly popular way to become a home-owner in Central Florida. With the abundance of vacant land in various areas – developers are taking advantage of the hot sellers-market and land opportunities to develop new communities. In turn, we are seeing popular developers increase their market-share here in Central Florida, as well as new-to-the-area developers flocking to the opportunity! In this article, we discuss some of the news these builders and developers are sparking up, who-is-who, and what we can expect to see over the next several months.
Toll Brothers, a Fort Washington, Pennsylvania-based builder, has acquired some $35 million of land in Central Florida since December 2020 – according to this article in the Orlando Bizjournal. With this acquisition, Toll-Brothers plans on constructing 368 single-family homes and townhomes in the Horizon West master-planned community ‘Westhaven at Ovation,’ 130 townhomes in in ‘The Briz at The Packing District’ next to College Park, 124 single-family homes in ‘Laurel Pointe Lake Nona,’ and 50 single-family homes in ‘Bella Collina’ a gated Monteverde country club community. Toll Brothers is not missing this opportunity by any means necessary – and surely will provide options for all of you new-home interested buyers!
M/I Homes of Columbus, Ohio, according to this article in the Orlando Bizjournal, has purchased a $4.2 million tract of land to develop a 150-townhome community right near Lake Monroe in Sanford! These communities offer an excellent opportunity for new-home buyers, with a townhome cost typically lower than that of a single-family home. These townhomes are expected to start in the low $200’s, and sales should begin in the winter of 2021 going into 2022. This may seem far out – but with the market that we are in right now, it is vital to keep track of new communities to get your foot in the door. Over the last several months to a year, we have seen that new-build sites are scooped up relatively fast due to the overwhelming demand!
Ashton Woods – Sun Terra
Developer ‘Sun Terra Communities’ and builder ‘Ashton Woods’ are working on an additional site in the ever-popular Horizon West area, according to this article in the Orlando Bizjournal. For a mere $16.3 million, Oviedo-based Sun Terra purchased the 180 acres to be built-up by Ashton Woods. This community is pre-build ready, with the building already in the process of breaking ground – expected to take only ten months to complete. We should see homes popping up here shortly, and the sales to start booming.
Taylor Morrison – a name synonymous in the new-build realm is embarking on a massive project in Poinciana. According to this article in the Orlando Bizjournal, Taylor Morisson is working on a plan for more than 4,400 single-family homes, 1650+ multifamily units, and 210,000 square feet of commercial space. Initially, this site plan was produced by Avatar Properties, now known as AV Homes who was purchased in 2018 by Taylor Morisson – spawning the ownership of the plan and its subsequent site project by Taylor Morisson. This builder keeps growing in the Greater Orlando area, and we plan on seeing more of them in the coming year!
What can we expect over the next year!?
As you can see from above, new-build communities are sprawling across Central Florida. With this increase in development over the last 12 months and of more-recently, we plan to see additional development occur and opportunities to open up. The demand is there, as every time I step into a new-build center with a client, I hear about restrictions on contracts and build-outs more and more frequently. This is due to the overwhelming demand! There is a carefully balanced output of these communities, and if you are seeking this type of home-ownership – be sure to keep a close eye on the various communities coming into Central Florida to get your fingers locked around an opporunity.
If you have questions or want to speak to one of our Realtors about purchasing a home in the Central Florida area or in a new-build community, you can contact us here.