The frenetic residential construction in Lakewood Ranch (LWR) is set to grow even more intense with plans announced this July 2015 for the development of the 305-home Arbor Grande, an added resource Sarasota homes for sale. This new addition to the master-planned LWR is a project of Standard Pacific Homes that in June disclosed a merger with the Ryland Group, in the process creating the fourth largest builder in the United States.
Arbor Grande will be Standard Pacific’s first subdivision in Lakewood Ranch and in all of Sarasota. Already, this Irvine, California-based builder has built subdivisions in or near the Fort Myers-Naples area, Tampa, Orlando, and Miami. Besides California and Florida, it also builds homes in Arizona, Colorado, Texas, and the Carolinas.
Standard Pacific caters primarily to move-up buyers or homeowners planning to sell their residence for an upgrade to a new house. On the other hand, the Ryland company it is merging with is a broad-based builder, targeting market segments from first-time homeowners up to high-end buyers of Sarasota homes for sale.
Ryland, which sells homes in 17 states, already has a large footprint in Southwest Florida. In Sarasota, it is building in Ashton Palms, Palmer Reserve, and Palms at Casey Key. Its other communities in the region include Copperstone in Parrish, Greyhawk Landing in Bradenton, Oakleaf Hammocks in Ellenton, and Keyway Place in Englewood, Additionally, Ryland has teamed up with another leading national homebuilder, Taylor Morrison, for the development of the 38-acre Arbor Reserve in Southern Manatee County, just outside LWR and a block away from SR 70.
Standard Pacific’s Arbor Grande is planned as a gated neighborhood to be developed on 114 acres that was purchased from LWR master developer Schroeder-Manatee Ranch (SMR) in December 2014 for $6.3 million. Located on White Eagle Boulevard/Pope Road, this new community sits cheek by jowl with an SMR-owned commercial park.
Also nearby is Eagle Trace, a development by LWR-based homebuilder Neal Communities which is also building in its Indigo subdivision just south of Arbor Grande. Two other top national homebuilders, Lennar and Meritage Homes, are likewise busy with spadework at the 475 home sites of Savannah at Lakewood Ranch in the northwest corner of State Road 64 and Lorraine Road.
The Arbor Grande site plan, still awaiting final approval from Manatee County, indicates home sites will be arranged along several winding roads and cul-de-sacs. The White Eagle Boulevard will serve as the primary access to the community. Valuations of Sarasota homes for sale in this community are yet to be announced, though these could approximate the $250,000-$520,000 range that the builder offers homes in its Tampa market.
Notably, Standard Pacific and Ryland are both publicly listed companies at the New York Stock Exchange. Prospective buyers of Sarasota homes for sale can expect some benefit from their impending merger. This move could result in an estimated annual cost savings of between $50 million and $70 million resulting from synergies on such operational areas as purchasing and production, eventually leading to more competitive pricing of Sarasota homes for sale.
SARASOTA, FLORIDA, October 7, 2019 – Property values of communities in the Sarasota-Manatee region now face lesser threat from neighborhood eyesores brought about by abandoned, foreclosed homes. Known in the real estate trade as zombie foreclosures, these properties have shrunk significantly in the region. According to an August report of ATTOM Data Solutions, abandoned […] more>>