Meritage Homes has started construction of a 12-acre residential development in Lake Worth with 59 houses – the first development of its kind in Lake Worth in more than a decade.
Scottsdale, Arizona-based Meritage expects to finish building the $16 million development, called Lake Cove, within 18 months. Construction of a model home is expected to conclude in early fall.
The houses will range in size from 1,708 to 2,819 square feet and will be priced at about $350,000.
Lake Cove has more than 300 prospective buyers, Justin Cook, vice president of the South Florida division of Meritage Homes, said Friday at a groundbreaking ceremony for the project.
Lake Cove is the city’s first development of a community of single-family homes in more than 10 years, according to Lake Worth Mayor Pam Triolo.