Lennar Homes buys land for first Lakewood Ranch community

BUYER: Lennar Homes LLC, Fort Myers

SELLER: SMR North 70 LLC

PROPERTY: 4810 Lorraine Road, 5895 Pope Road and additional land, Bradenton

PRICE: $6.6 million

TITLE FIRM ON DEED: University Title Services, Lakewood Ranch

PLANS, DESCRIPTION: Miami-based Lennar Homes purchased 172.15 acres in the Bridgewater area of Lakewood Ranch for $6.6 million.

The price equated to $38,339 per acre.

Lennar Homes has announced its plans to build as many as 281 estate and manor homes on the property. The development is the national homebuilder's first project in Lakewood Ranch.

Construction on the first home is scheduled to start in early 2013.

Lennar says that as of Sept. 30, there were 439 new homes sold in Lakewood Ranch, an increase of 48% over last year at this time, and more than 2011's entire total of 391. There are currently 304 homes under various stages of construction.

“There's still a lot of planning that's going on,” says Matt Devereaux, vice president of sales for Lennar Homes in Southwest Florida, noting Lennar is finalizing pricing, marketing strategies and the floor plans it will offer.

At this time, Lennar plans to offer two home styles, including those in its Manor and Estates model series. The Estate floor plan will be one similar to the one offered in River Strand, but likely will be updated, Devereaux says. Homes will range in size from 1,861 to 3,800 square feet and be three to six bedrooms, with two- and three-car garages.

— additional reporting by Pam Eubanks, correspondent