The national homebuilder bought the land June 8 from HRD Longwood LLC, a company affiliated with Harney Land & Cattle Co. of Geneva in eastern Seminole County.
HRD, headed by Geneva businessman Raymond D. Harrison, bought the property from husband and wife Larry and Chris Belair for $1.55 million on April 25. At the same time, the Belairs assigned the development rights to HRD. Civil engineer on the project is Madden, Moorhead & Stokes of Maitland.
The 11.67-acre parcel is located at 205 14th Ave., just west of North Ronald Reagan Boulevard and south of Longwood Hills Road. It is adjacent on the north side of the first phase of Oakmont Reserve.
"We are open for sales at Oakmont Reserve (phase 1)," Adam Schott, Meritage's Orlando-area director of land acquisition, told GrowthSpotter via e-mail. "We had our grand opening last month. We are preparing to start development on the second phase very soon. The next phase should be completed in early to mid-2018."
Schott said the homes in the second phase will be similar or the same as those in the first, where 2,000-square-foot houses sell for about $345,000. Larger, two-story homes are 3,000-plus square feet and sell for just under $400,000. The larger units have four or five bedrooms, 2.5 and 3.5 baths, and 2.5-car garages.
The 41 single-family lots in the second phase will range in size from 0.15 acres to 0.26 acres, with a maximum of four units per acre. The first phase has 43 lots.
"These two phases were owned by different land owners and were different transactions, however we certainly approached the two as supplemental to each other," Schott said. "We are very excited about building homes in Longwood. It is a great place to live."
Meritage Homes was founded in 1985 and has been recognized in the building industry with a number of awards, including Forbes' Platinum 400 Best Big Companies of America, and Texas Builder of the year five times.
Meritage touts its commitment to energy efficiency, being the first national top 10 builder to have every home built receive 100 percent Energy Star certification, a factor in lowering electric bills by as much as 50 percent, according to the company's website.