(PRWEB) March 17, 2013
Further building activities on multi-family housing in the Sarasota-Manatee area can be expected from Lennar Homes, Sarasota Bay Real Estate said, noting that the national homebuilder has adopted a multifamily platform as part of its long-term strategies. This was revealed, the full service realty firm said, in the recent announcement of Lennar’s 2012 fourth quarter results wherein the company’s CEO, Stuart Miller, disclosed that the multifamily platform that the homebuilder incubated “is now maturing into the construction phase with a pipeline of over $1 billion to be developed over the next three years.”
All told, Lennar Homes has five communities in the Manatee-Sarasota MSA. These are the River Strand, Terrace, and Verandas in Bradenton, the Cypress Falls community in North Port, and the Stoneybrook development in Venice. Its building activities last year was most pronounced in Bradenton where Lennar Homes began construction of 16 new units at its Terrace high-rise multifamily condo. This development is located at the Grand Estuary Trail in the golf community of River Strand. These new units have been priced from the low to the high $200s. Several multi-family coach homes are likewise available at the Grand Estuary in River Strand, with one just listed recently with an asking price in the low $200s for its floor area of 1,700-plus square feet featuring three bedrooms and two baths.
Move-in ready spec homes
In two months alone last year, the company reported that it sold 40 condos in the Terrace condos at a sale price of between the low and mid-$100s. In the current MLS of Bradenton-Sarasota homes for sale, several units are still available at these price levels, SBRE said. Besides these high-rise units, Lennar also has mid-rise multifamily condos at the gated community of the Verandas in Heritage Harbour where there is a 27-hole golf course and tennis courts, among other amenities. Home prices here start at the high $100s.
Lennar Homes has also been active at Cypress Falls, a gated, active adult community composed of single family homes at the Woodlands in North Port. It acquired seven home sites in this neighborhood this February which are being developed as move-in ready residences with prices starting in the high $100s and floor areas ranging from 1,677 up to 3,231 square feet. Lennar has been building spec homes in its properties to meet the demand of buyers who might want a new home without waiting much too long for a deal to close.
Lennar Homes has also a presence in Venice through the Stoneybrook community there. Its offerings in this subdivision are single family manor homes priced from the low $200s, featuring floor areas of 1,340 to 3,357 square feet. The Manatee-Sarasota real estate community is likewise anticipating the homebuilder’s groundbreaking this year of its Bridgewater community in Lakewood Ranch. In October last year, Lennar purchased for $6.6 million a 172-acre site in Lakewood Ranch for this project. Earlier reports indicated that the company will develop this property into a community of as many as 281 single family homes with prices from the $200s up to the $500s.
About Sarasota Bay Real Estate
Sarasota Bay Real Estate is a full service real estate brokerage in Sarasota Florida owned by Sarasota real estate broker, Christina Miller, and marketing professional, Roy Hunter. Together they, and their team of well-experienced agents, provide the best-in-class real estate marketing services for the properties in the company’s inventory.
Sarasota Bay Real Estate Internet assets receive more than 1,000 visits from perspective home buyers a day due to the wealth of local community information published by the company. Through a direct feed from the Sarasota MLS, Sarasota Bay Real Estate publishes the most current real estate information on the Internet for the Sarasota, Florida, market.
Contact information for Sarasota Bay Real Estate and all of the current MLS listings of real estate for sale in the Sarasota-manatee area can be found at SarasotaBayRealEstate.com