Landsea Homes Closes On Homesites For New Community, The Groves In Grand Island, Florida

Rhea-AI Summary

Landsea Homes Corporation (Nasdaq: LSEA) announced the acquisition of 69 homesites for a new community, The Groves, in Grand Island, Florida. Construction is set to begin in December with homes available for sale by summer 2022. The Groves aims to provide high-quality, attainable homes for entry-level buyers and is strategically located near several lakes and recreational activities. The company emphasizes sustainable, high-performance homes featuring modern technology and flexible living options to enhance the Florida living experience.

Positive

• Acquisition of 69 homesites for a new community enhances growth potential.
• Focus on providing attainable homes targets entry-level buyers, expanding market reach.
• Construction slated to begin in December 2021, indicating active development plans.

Negative

• None.

ORLANDO, Fla., Nov. 9, 2021 /PRNewswire/ -- Landsea Homes Corporation (Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly traded residential homebuilder, announced today that it has closed on 69 homesites for a new community of single-family homes, The Groves in Grand Island, Florida.

"We are excited to build The Groves, our first new home community in this booming area, just an hour north of Orlando," said Jed Lowry, Corporate Vice President, Florida and NYC Metro Divisions of Landsea Homes. "The Groves presents an opportunity to introduce new homebuyers to the high quality, high performance homes that Landsea Homes is known for, and that are attainably priced for entry level and first time home buyers."

Construction is slated to begin in December. Homes are expected to be for sale in summer 2022.

The Groves is located on 27 pristine acres, nestled between a triad of lakes: Lake Eustis, Lake Yale and Lake Griffin, all of which offer prime opportunities to fish, hike, bike or go boating year-round. It is also close to Wedgewood Golf Club.

An unincorporated area, Grand Island is part of Lake County, near the county's Golden Triangle of Eustis, Mount Dora and county seat Tavares, an area known for its Spanish Moss-draped oaks, seaplane rides, antique shopping and laid-back dining. Residents will enjoy beautiful hilly terrain, world-class art festivals, great small towns, and the three-day Leesburg Gator Bike Rally and festival.

Just 38 miles from Orlando and its attractions and international airport, Grand Island is serviced by County Road 44 which connects directly to the Florida turnpike to the west or state roads leading to I-4 to the east. It is also perched midway between the Atlantic Ocean and Gulf Coast.

"These new homes allow homebuyers in the Orlando market to expand into vibrant areas such as Grand Island, where they can find attainable new homes in prime locations," Lowry added.

As always, buyers will have the chance to truly "Live in Your Element," with sustainable, High Performance Homes outfitted with cutting-edge technology, stunning open concept layouts, flexible living options through Landsea Homes' LiveFlex® program, and all of the other elements that tie together the best of the Florida-living experience.

For more information on Landsea Homes' homes for sale in Florida, please visit: https://landseahomes.com/.

About Landsea Homes Corporation

Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Newport Beach, CA that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation's most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, Florida, Texas and throughout California in Silicon Valley, Los Angeles and Orange County.

An award-winning homebuilder that builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities, Landsea Homes is known for creating inspired places that reflect modern living and provide homebuyers the opportunity to "Live in Your Element." Our homes allow people to live where they want to live, how they want to live – in a home created especially for them.

Driven by a pioneering commitment to sustainability, Landsea Homes' High Performance Homes are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple®. Homes include features that make life easier and provide energy savings that allow for more comfortable living at a lower cost through sustainability features that contribute to healthier living for both homeowners and the planet.

Led by a veteran team of industry professionals, who boast years of worldwide experience and deep local expertise, Landsea Homes is committed to positively enhancing the lives of our homebuyers, employees, and stakeholders by creating an unparalleled lifestyle experience that is unmatched.

For more information on Landsea Homes, visit: www.landseahomes.com.

 

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SOURCE Landsea Homes

FAQ

What is the new community announced by Landsea Homes?

The new community is called The Groves, located in Grand Island, Florida.

When will construction of The Groves start?

Construction is scheduled to begin in December 2021.

When will homes in The Groves be available for sale?

Homes are expected to be available for sale by summer 2022.

What is the significance of the homesites acquisition for Landsea Homes?

Acquiring 69 homesites enhances Landsea Homes' growth potential and market presence.

How does The Groves community cater to new homebuyers?

The Groves aims to provide high-quality, attainable homes tailored for entry-level and first-time buyers.