Meritage Homes plans 475-home community

National builder Meritage Homes is moving forward with plans to create a 475-home community in Lakewood Ranch.

The company's unnamed project, which sits on 304 acres, is located roughly south of State Road 64, north of the 44th Avenue East extension and west of Lorraine Road. Meritage plans to buy the land from Lakewood Ranch developer Schroeder-Manatee Ranch for an undisclosed amount by the end of the year.

The project, endorsed by the Manatee County Planning Commission Aug. 14, now heads to the Manatee County Board of County Commissioners for approval Sept. 4.

“We plan to start development in the first quarter of next year,” Katie Suggs, east region marketing manager for Meritage Homes, told the East County Observer.

Meritage already has two communities in the East County area — Raven Crest, a 38-home subdivision off White Eagle Boulevard, and Serenity, a 111-home community off Upper Manatee River Road. Both are slated to open by mid-September.

Meritage expects home sales in both projects to be finished by the time home sites in the new community comes online. Infrastructure work will take about 18 months, and home sales would likely start in November 2015.

“It's a great area,” Suggs said. “For us, the attractiveness of Lakewood Ranch is that it's one of the top-selling master-planned communities in the country. They've done a great job already realizing the lifestyle opportunity.”

Meritage plans to build on 72-, 62- and 55-foot lots, with single-family detached homes starting at three bedrooms and ranging from 2,400 to 5,000 square feet.

No amenities have been finalized, but Suggs expects the gated community will have swimming pools, fitness areas, playgrounds and other features.

Preliminary plans designate 156 acres for open space, including seven acres for recreation.

— reporting by Pam Eubanks, correspondent