Lennar Homes Coastal Carolina Division purchases 570 homesites

Signaling strength in the market, Lennar Homes Coastal Carolina Division purchases 570 homesites

Developments in Charleston and Myrtle Beach metro areas

Lennar Homes Coastal Carolina Division announces the purchase of six tracts of land comprising a total of 570 homesites (including finished, partially developed, and raw acreage) on which homes are to be constructed. The purchases add substantially to Lennar’s land inventory and signal the publically traded firm’s commitment to grow their share of the market in the Coastal Division.

Robert H. Hilliard, (at right) Division President for Lennar Coastal Carolina Division announced the purchases and said, “Lennar believes in the strength of the real estate markets in our division. We started building homes in Charleston in 2003 and in Myrtle Beach in 2004 and our commitment has not wavered in either market. Our sales have been strong.”

The firm purchased three tracts in the greater Charleston area and three tracts in the greater Myrtle Beach area. Land purchases in Charleston include 186 homesites at Spencer Creek Woods in Ladson, 55 homesites at Jacobs Cove in Moncks Corner, and 40 homesites in Braeland. Tracts purchased by Lennar in the Myrtle Beach area include 75 homesites in Brookefield Estates at International Club and 28 homesites in Enclave at International Club in Murrells Inlet, and 186 homesites at Ridge Pointe in Conway. Sales in each community will begin this summer.

Robert Hilliard said, “Charleston’s real estate market has experienced higher sales demand from buyers through the first quarter of the year. We know our ‘Everything’s Included’ homes are attractive to buyers of newly constructed homes. Having these homesites in these growing areas of our market expands the communities we can offer our buyers.”

Susan Martin, Director of Sales, in Myrtle Beach noted that “Sales in the Coastal Carolinas region were up 3.1 percent in March when compared with the same period last year, according to the Coastal Carolinas Association of Realtors. We know Myrtle Beach is a highly-desirable region in which to live. Increasing the number of communities in which we build signals to buyers our dedication to building quality new homes in the greater Coastal Carolina region.”

Spencer Creek Woods is located in Ladson off Ladson Road near Trident Cardiology Associates. Jacobs Cove in Moncks Corner is located at Old US 52 at First Saint Johns Drive. Braeland is located near the intersection of Butternut Rd. and Dream Street in Summerville. Ridge Pointe is in Conway off Burning Ridge Road at Timber Ridge Rd. in the Burning Ridge mater planned community. Brookefield Estates is in Murrells Inlet off McDowell Shortcut Rd near Shenandoah Dr. Enclave at International Club is located near the intersection of Tavistock Court and Pickering Drive.

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About: Lennar Corp., founded in 1954, is one of the nation’s leading builders of quality homes for all generations. Building homes in 18 states, Lennar offers affordable, move-up and retirement homes in communities that cater to a variety of lifestyles. More information is available at http://www.Lennar.com.

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