Strong demand is moving Centex to start selling units in May from floor plans only at the Villas at Waterford Lakes, a planned 21-acre, 216-unit townhome project in east Orange County, 15 miles east of Park Maitland Villas. Prices will start at $110,000.
At its current pace, Park Maitland Villas will have an estimated $12.7 million buildout before year end. Centex Homes president Pat Knight attributes the fast sellout to a "maintence-free" feature at the properties.
For a monthly fee of $175, homeowners are covered for all lawn maintenance, landscaping, roofing and exterior painting/repairs, common grounds area maintenance and entry gate.
"This maintenance-free housing concept has generated as much interest as anything we've done previously and will be a perfect complement to our standard, single-family homebuilding operations," Knight says in a prepared statement.
Centex is targeting young professionals and move-down buyers as its primary townhome market. The gated property is a half mile north of Howell Branch Road in Maitland, FL. Unit prices are $160,000 to $210,000. Living areas are 1,400 sf to 2,300 sf. Each home comes with a two-car garage.
"Although Centex has forged most of its half-century success on traditional, single-family construction, product diversification in recent years has enabled the company to grow and flourish and remain among the nation's elite production builders," Knight says.
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