Are spec homes making a comeback?
Construction has reportedly begun on a $7.4 million spec mansion in Southwest Ranches.
Pembroke Pines-based Landmark Custom Homes, is developing the Azuria, a 12,500-square-foot mansion with floor-to-ceiling glass walls.
The six-bedroom, six-bathroom house will, fittingly, have a six-car garage and a fountain in the front yard. The developer is working with Affiniti Architects and Shuster Design associates on the project, according to the Sun Sentinel.
Construction on the two-acre site is slated for completion in 2016, the Sun Sentinel reported. The home will be built in Landmark Ranch Estates, the first gated community in Southwest Ranches.
Scott Worley, president of the Gold Coast Builders Association, told the Sun-Sentinel that spec building will be a frequent sight this year because of a large shortage of land for homebuilding, especially in Broward County.
South Florida’s housing downturn generally eliminated speculative building.
“It’s always less risky when you build a home after you have it sold,” Worley told the newspaper. “But [spec building] is a model that a lot of small, regional builders are using. As long as the housing market is strong, you’ll see it.” [Sun Sentinel] — Sean Stewart-Muniz