Park Square Homes has more than 500 townhomes planned across four communities in Central Florida as the homebuilder scrambles to keep up with demand for more affordable homes.
Chief Operating Officer Steve Parker told GrowthSpotter the company has sold out of its townhouse product throughout the region, so it also has more additional sites under contract.
“We were very successful with our townhomes in the Orlando market, and we actually sold out much faster than we expected," Parker said. “So now we’re playing catch up.”
He said the company strives to offer to a variety of home products to meet different price points, and the strategy to maintain between 20-30 percent of total sales volume in the townhouse category.
Ocoee Town Center is the largest, with plans for 232 units within the mixed-use community. It’s been held up due to lack of a school capacity enhancement agreement. Park Square is also planning a second phase of its Ravenna at Horizon West (96 units) and Emerson Park (105 units) in Apopka.
Next week Park Square and co-developer Bavaria LLC will file a Preliminary Subdivision Plan with Osceola County for a 72-unit townhome community on Jack Brack Road, less than a half mile from Narcoossee Road.
“We like the location a lot, and it’s the only townhome product on Jack Brack Road,” Bavaria’s Kal Hussein said. “Everyone else is doing single family detached.”
The 10-acre site will be unique among the builder’s Orlando-area projects because it’s the only plan to offer a mix of front-loaded and rear-loaded townhomes – similar to the site plan for Waterset in Hillsborough County.
The rear-loaded units are popular because Park Square the two-car garage is separated from the home by a private, pavered courtyard.
“A lot of builders have the garage attached to the home, so you don’t get any yard and very little patio space,” Parker said. “With this design, we give each homeowner a nice, private courtyard patio.”