Meritage Homes Corporation, Scottsdale (NYSE:MTH) on Monday announced that it has closed on the sale of 183 lots within the Doctor Phillips submarket of Orlando, on which it plans to build Sand Lake Sound, a new community of 106 townhomes and 77 single-family homes.
Sand Lake Sound is located in the Doctor Phillips area with top-rated schools, strong employment centers, and convenient freeway access. Local home buyers enjoy walkability to Restaurant Row and International Drive, which offer ample dining and shopping options, as well as close proximity to Disney World and other tourist attractions.
This affordable community is also expected to offer desirable on-site amenities, such as lake access, a resort-style pool, observation piers, a canoe launch, and recreational field.
“Meritage Homes is incredibly excited about Sand Lake Sound, which we hope will offer an unrivaled lakefront living environment in one of Orlando’s most popular neighborhoods,” said Orlando Division President Brian Kittle. “With a variety of floor plans and design options available, this unique community offers an opportunity to build your dream home in a dream neighborhood.”
Meritage plans to offer townhomes ranging in size from approximately 1,600 to 2,000 square feet starting from the mid-$300,000s. The single-family homes, most of which are designed to have direct lake access and docks, are expected to range in size from approximately 2,000 to 3,400 square feet with a starting price of $700,000. Each home includes Meritage’s signature energy efficiency features and M.Connected Home™ Automation Suite.
Sand Lake Sound is one of 20 Meritage communities in Orlando. Meritage anticipates home construction will begin in late 2018 with sales to follow in 2019.
