Shea Homes, a private home builder based in Walnut, Calif., announced on Tuesday that it has entered the Florida home building market. Victoria Gardens, a gated, active adult community located between Orlando and Daytona Beach, will offer five models for viewing beginning in early 2008.
According to a press release, even with the national housing downturn Shea Homes believes it's a "great time to do business in Florida." The company estimates that roughly 1,000 people move to Florida every day, and Florida's population will grow nearly 100 percent by 2025. In addition, Shea expects baby boomers to be the driving force behind the population explosion.
"We're extremely excited to be building active adult homes in Florida," said Jeff Gersh, area vice president for Central Florida. "With the numbers of active adults increasing and the popularity and growth of the Sunbelt region, including Florida, we are confident that this will be a strong long-term market for us."
The 390-unit Victoria Gardens is situated within Victoria Park, a St. Joe Hometown master planned community. Single-story homes in Victoria Gardens are priced from the $200,000s to the mid-$300,000s and range in size from 1,430 square feet to 2,210 square feet. Amenities at the community will include a private clubhouse with pool, a tennis center, a health and fitness facility, and access to an 18-hole golf course. In mid-2007, Shea Homes assumed from St. Joe the rights to build in Victoria Gardens.
Shea Homes was No. 17 in the 2006 Builder 100.