Going up on Lake Howell Road in suburban Maitland is Park Maitland Villas, a 70-unit, gated townhome community priced from the $130s to the $170s. Centex projects a quick sellout.

"We are trying to remain one step ahead of the changing market trends in Central Florida," Centex/Orlando marketing director Joel Deines tells GlobeSt.com. "While our primary focus will remain in the development of single-family home communities, we also will be introducing alternative housing styles such as Park Maitland Villas, now and in the future."

Centex is targeting young professionals and move-down buyers as its primary market. Deines feels the product "will appeal strongly to anyone who is looking for a maintenance-free lifestyle."

Four three-bedroom and four-bedroom plans will have living areas from 1,400 sf to 2,300 sf, with rear two-car garages. Besides the gaited entryway, the project will have a swimming pool and jogging trail.

Although this is Centex's first multifamily venture in metro Orlando, the area's leading builder of production homes is currently erecting Marina Bay, a $129,900 to $224,900-priced community in nearby Flagler County, between Daytona Beach, FL and St. Augustine, FL.

Deines notes product diversification is one of the factors that have contributed to the company's growth and success in Central Florida. As an example, he cites the firm's Fox & Jacobs division launched five years ago. Product from this sector, aimed at the entry-level buyer, emphasizes more square footage and lower prices than competitors.

Nationally, Centex is ranked fourth largest in the home building industry based on revenue of $4.7 billion.

Instant Insights /

Centex Taps into First Multifamily Project in Central Florida

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