D.R. Horton is heading west.
The homebuilder is joining the likes of Lennar, Ryan Homes and Kenco Communities to build 120 multifamily homes in Arden, a 1,200-acre master-planned community in western Palm Beach County. The move is part of a growing trend of homebuilders seeking to build in the western and central part of the county, as land becomes more expensive near West Palm Beach.
The community is South Florida’s first “agrihood,” built around a 5-acre farm open to all residents, according to a release. The community’s farm is led by full-time farm directors, and residents will have fresh vegetables, fruits and herbs year-round, according to the release.
D.R. Horton’s homes, known as “paired villas” will start in the mid-$300,000s, each with 1,836 square feet to 1,921 square feet. Every home will offer D.R. Horton’s new smart home system, a wireless platform that integrates with computers, tablets and smartphones.
Arden is being developed by Freehold Communities and is near Florida’s Turnpike and I-95, close to Loxahatchee.
Andrew Smith, division president of Freehold Communities, said D.R. Horton’s homes will be the most affordable homes in the community and will be the only multifamily homes in Arden.
D.R. Horton is one of the largest homebuilders in the country. The company reported first quarter revenue of $4 billion, up from $3.5 billion in the same period of the previous year. Homebuilding companies reported strong earnings as lower-priced homes are selling quickly due to low mortgage rates.