As HBW subscribers have no doubt already noticed, developers have been buying up hundreds of acres in Manatee County during the last nine months. This move is expected to jumpstart a home building boom in southwest Florida. In the first week of July, D.R. Horton and WCI accelerated their land run by purchasing hundreds of acres in East Manatee. The Florida-based firms of Neal Communities and Medallion Homes have also joined the development rush in the area. Those seeking residential homebuilding job leads should check out Manatee County.
D.R. Horton spent an estimated 5.83 million to purchase 665 acres along Upper Manatee River Road from the E. L. Reagan Residual trust. The site, which comprises the southern third of the Reagan Ranch land holding, will be home to Del Tierra, one of D.R. Horton’s signature subdivision communities. Del Tierra is expected to have 610 home sites with construction scheduled to begin in August. The local community is somewhat divided over the development, with opponents citing excessive traffic congestion along Rye Road and classroom overcrowding in Gene Witt elementary school as primary objections.
WCI purchased 57 lots in The Links at Rosedale for 4.22 million from Ohio homebuilder M/I Homes. This deal was part of a 150-lot, 11.6 million purchase in the 44th Avenue Subdivision. The Links, a luxury master-planned golf course community, will see an infusion of high-end, custom two- and three-bedroom homes.
After heavy profits following the upswing in home sales, Neal Communities decided to join the development rush with 39 lots along Pope Road in East Manatee for a 120-home development. Bradenton-based Medallion Homes will build a 139-home subdivision in the 70 acres it purchased along Upper Manatee Road back in May.
Neal Communities President Pat Neal recognized the boom potential early on, saying, “We’re going to have a boom and everybody I know is trying to bulk up on land for the cycle,” he said, “I don’t think I’ve seen anything like it since 2002 or 2003.” medallion Homes is planning to build a The shortage of housing in southwestern Florida has kept house prices strong, and with 300,000 people expected to relocate to the area, prices won’t be dropping anytime soon.
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