Hanover Family Builders is soon to be the fourth homebuilder in Hammock Reserve in Haines City with the purchase last week of 102 completed homesites. Hanover bought the finished lots from Winter Haven-based Cassidy Homes.
Hammock Reserve, located off of Old Polk City Road and Prado Grande Avenue, includes homebuilders D.R. Horton, Meritage Homes of Florida and Dream Finders Homes. Hanover paid $5.1 million over three transactions for lots in the community’s second and third phase.
Orlando-based Hanover was purchased by publicly traded Newport Beach, Calif.-based Landsea Homes Company in January for $179.3 million in cash, plus the assumption of $69.3 million in debt. Hanover will implement Landsea’s High Performance Home – HPH – that is a combo of energy efficiencies and sustainability products in the Hammock Reserve homes, Matt Orosz, Division President of Hanover Family Builders told GrowthSpotter. In addition to the HPH as a standard feature in its Hammock Reserve homes, Hanover also will include a luxury shower line from Kohler, Apple-connected homes and covered porches — all standard.
Hanover’s Hammock Reserve homes will be an extension of the product the company has been building in nearby Orchid Terrace, located about 5 miles south. “The Polk 27 corridor is an area we really want to focus on,” Orosz said. “Our product was really good and is going to get that much better,” Orosz said. Hanover will be rebranded as Landsea Central Florida this year.
While the new standard floorplans include high-end finishes, buyers will still have access to Hanover’s design center at Orlando’s Mall of Millenia, Orosz said.
In Hammock Reserve, Hanover plans to build homes 1,517 to 2,737 square feet and offer options for single-story and two-story homes with 3-4 bedrooms and 2 to 21/2 bathrooms. Floorplans feature open kitchens, as well as living and dining areas that will maximize entertaining. The community will include a resort-style pool and sundeck, green space and recreation area, as well as a dog park, Orosz said. Prices will begin at $314,999.
D.R. Horton is building 1,672-2,725 square foot, 3-5 bedroom-homes with 2-3 bathrooms and two-car garages with smart home technology starting at $362,990. Meritage Homes is building 1,695-2,631 square foot homes with 3-4 bedrooms, 2-3 baths and 2-car garages in one or two stories started at $310,990. Dream Finders is planning for 1,407-2,110 square foot homes.