M/I Homes is set to break ground this month on a new 95-lot subdivision on North Ronald Reagan Boulevard (C.R. 427) near Sanford.
The national homebuilder paid $6.1 for three parcels totaling 30 acres at 5137 C.R. 427, according to a deed recorded last week in Seminole County. The seller was JTD Land at Evergreen LLC, an affiliate of Jr. Davis Construction, a heavy highway and road contractor based in Kissimmee.
The land is fully entitled, and M/I Homes has permits in hand, said Daniel Kaiser, the Orlando division vice president for land.
“Depending on how the weather holds, we expect to have our lots finished sometime early next year and our sales operations should be underway in early spring of 2020,” Kaiser said in an e-mailed response to GrowthSpotter questions. He said M/I will manage the general contractors who develop the property.
Kaiser said he liked to property’s access to major job centers and to State Road 417 and I-4. He also lauded the county’s schools as a magnet for families with children.
“This property is a very unique find in this area,” he added. “It is well located in Seminole County to access the employment areas in Lake Mary/Heathrow, Seminole County Courthouse and the redevelopment area in the former Flea World (flea market).”
The working name of the development will be Evergreen. Of the 95 lots, 75 will be 50-feet wide and the remainder 75 feet in width. Houses will range in size from 1,800 to 4,700 square feet, and prices will start at the low $300,000s and rise to $500,000 for larger models.
“This will enable us to attract buyers looking for different house types and price points,” Kaiser said. “We believe our product design will give numerous options to discerning buyers looking for quality homes in a great sub-market.”
M/I Homes is an Energy Star 3.1 ,100 percent partner, meaning its homes have met strict requirements for energy efficiency developed by Energy Star’s Residential New Construction Program. Energy Star certified houses and apartments must be at least 10 percent more efficient than homes built to code, and they achieve a 20 percent improvement on average.
“Our high-performance homes not only save our customers tremendous amounts on their energy bills, our homes are (also) environmentally friendly,” Kaiser said.
M/I recently announced it would begin sales later this month for The Sanctuary at Twin Waters, a 108-lot subdivision on the shores of Lake Avalon in Winter Garden. Homes there will start in the mid-$300,000s and range to the mid-$500,000s.
Last summer, the homebuilder announced new two new Seminole County subdivisions: Hideaway Cove, a high-end housing community near Oviedo; and The Towns at White Cedar, a townhome development in Sanford.