Richmond American Homes executed three closings over two days this week to expand its portfolio in Polk and Lake counties.
The homebuilder will take over the remaining homesites in Palisades at Clermont, where it will offer an enhanced version of its Seasons product line of homes.
Richmond American, a division of M.D.C. Holdings, paid $4.2 million on Thursday to buy 40 of the 75 lots along Spring Lake Drive in the first of two takedowns from seller, Ontario-based Metrontario Group. The builder will close on the remaining 30 lots a year from now.
RAH will join Regal Park Homes in the established community on the north shore of Lake Minneola. The former golf course community has a private boat ramp and fishing dock on Lake Minneola, which offers access to the Clermont Chain of Lakes. “It’s really a beautiful location,” marketing manager Kathleen Pollack said.
Palisades marks the builder’s fifth community in Lake County. RAH will begin pre-selling from its Seasons at Spring Creek just off U.S. 27 near Leesburg while models are under construction. The builder will offer eight ranch and two-story floorplans, including its multigenerational offering: the Emerald.
The exterior elevations have been enhanced with covered front porches and stone accents. Prices will start in the $300,000s, which includes the company’s complimentary design services.
“Clermont pricing has really gone up, and so we’re going to be really reasonably priced with the Seasons collection,” said Brian Dalrymple, vice president of land for the Orlando division.
He told GrowthSpotter the Palisades deal is the first of several land closings planned for this year, as Richmond American ramps up production across Central Florida. The builder has closed 400 homes over the last three years, but that’s about to change.
“We’re on track to open eight new communities this year and six next year,” Dalrymple said.
On Friday, the homebuilder closed transactions in two Haines City subdivisions where it will sell its Seasons product line. At Heritage Square RAH secured 127 approved lots in the new subdivision to be constructed on E. Johnson Avenue, just south of Cypress Park Estates, for $2.6 million.
“We’re keeping all those lots to ourselves,” Pollack said. “We won’t be bringing in another builder.”
The site plan carves out a future amenity site, where RAH will build a playground/tot-lot, and allows for road connections to future phases of the community. Construction is planned to start in May with a sales launch scheduled for winter 2021.
RAH also bought the final phase of Arlington Square at E. Hinson Avenue and 30th Street, which comprises 59 finished lots, for $3.3 million. The builder had begun pre-selling in the community and already had 10 lots under contract at the time of the closing.