The Real Deal Miami

DR Horton plans 675-home development at Lakewood Ranch in SW Florida

The home builder has a contract to buy about half of a 278-acre site at Lakewood Ranch, located northwest of Sarasota
November 24, 2018 02:45PM

Solera at Lakewood Ranch (Credit: maps4news-com / @ HERE Gatehouse Media)

Home builder DR Horton has a contact to buy about 140 acres in Manatee County and plans to build 675 homes there.

DR Horton has a contract to buy about half of a 278-acre site from Solera Landco LLC, which bought the entire site for $9.85 million.

Solera got a $19 million loan from Trez Capital Corp. to finance the land acquisition and residential construction.

Solera will keep about half of the land for the residential development, called Solera at Lakewood Ranch.

About three acres of the 278-acre site will be allocated to such amenities as a playground and park, and another 141 acres remain open space.

The land is at 5010 Uihlein Road in the master-planned Lakewood Ranch development, located northwest of Sarasota.

Residential construction at Lakewood Ranch started in 1994, and when built out, the master-planned community could have more than 30,000 homes. [Sarasota Herald-Tribune]Mike Seemuth