Renowned Florida residential builder Medallion Home continues its expansion in Manatee County, this time with a large land purchase near State Road 64. According to a news report in the Sarasota Herald-Tribune newspaper, the acquisition by SR 64 B. Squared Ranch LLC is part of Medallion Home’s long-term expansion plans in the company’s home turf.
The land purchase announcement comes just weeks after Medallion Home acquired 94 acres in Parrish. Unlike other current developments by Medallion Home, the new acquisition will not go under construction in the near future. Medallion Home CEO Carlos Beruff told the Herald-Tribune that if economic recovery of the region continues, dirt-filling crews may be called in. Medallion Home paid $900,000 for 553 acres of an area located east of I-75, near the Bradenton-Arcadia Road.
The new purchase is part of the company’s long-term growth strategy, but this doesn’t mean that Medallion Home is not keeping busy now. At a time when real estate investors in other parts of the U.S. are waiting for the next avalanche of foreclosures so that they can scoop up rock-bottom deals, developers in Southwest Florida are actively engaged in residential construction. Herald-Tribune business reporter Michael Braga recently summed up Medallion Home’s active projects:
- Gamble Creek, River Plantation and Twin Rivers in Parrish
- Bella Sole, Country Meadows, Harbor Walk at the Reserve in Bradenton
- Riva Trace in Sarasota
- Stonewalk Preserve in Venice
- Lakes of Mount Dora
- Bobcat Trail in North Port
Few other developers in the United States have been as busy as those in Southwest Florida this year. This new construction trend is bound to continue, and it can be explained by the fact that first-time home buyers are increasingly looking for brand-new homes. Medallion Home has been developing homes in Southwest Florida since 1984, but the company has managed to endure the ailing housing market that has plagued the U.S. since 2008.
If you have interest in a Medallion Home in any of the neighborhoods mentioned above please feel free to contact me.
