• Tue. Sep 26th, 2023

    Two Development Companies Invest in Sanford’s Single-Family Home Market

    ByJames Forsyth

    Sep 19, 2023
    Two Development Companies Invest in Sanford’s Single-Family Home Market

    Development companies Beazer Homes and MI Homes have recently acquired land in Sanford, Florida, as they aim to contribute to the growing inventory of single-family homes in the area. Beazer Homes purchased parcels along Myrtle Street for $4 million, with plans to develop a subdivision called Myrtle Estates consisting of 56 lots on 15.3 acres of land. The lots will range in size from 50 feet to 65 feet.

    MI Homes, on the other hand, acquired two parcels along Celery Avenue for $4.28 million. The company will be developing the Estates at Rivercrest, which will feature 93 single-family homes on 31.9 acres of land. The homes will range in size from 1,700 square feet to 3,600 square feet and sit on 50-foot lots. Jared Wilkin, the VP of land acquisition with MI Homes’ Orlando office, expressed enthusiasm about the opportunity to expand the company’s presence in Seminole County.

    Both Beazer Homes and MI Homes have been involved in other development projects in Sanford. Beazer Homes is currently building a community of 104 townhomes called Towns at Riverwalk, while MI Homes has subdivisions such as Cadence Park and Conestoga Park in the area.

    The recent land acquisitions by Beazer Homes and MI Homes are indicative of the vibrant residential real estate market in Sanford. The surrounding areas have also seen an influx of new developments, with Toll Brothers and D.R. Horton currently building communities adjacent to the MI Homes site.

    In addition to Beazer Homes and MI Homes, KB Home has also secured land in Sanford for a new subdivision. The company purchased 34 acres at the intersection of Celery and Cameron Avenues for $8.5 million. KB Home plans to build a community of 123 single-family homes called Cameron Preserve.

    As Sanford’s housing market continues to thrive, these development companies are poised to meet the demand for single-family homes in the area.

    – Single-family homes: Standalone residential properties designed to accommodate one family.
    – Parcels: Individual pieces of land that can be bought separately or as part of a larger area.
    – Subdivision: A development that divides a larger area of land into smaller lots for housing.

    – GrowthSpotter. (No URL provided)