LANDSEA HOMES EXPANDS PRESENCE AT VICTORY AT VERRADO 55+ COMMUNITY IN ARIZONA; CLOSES ON 145 NEW HOMESITES

Rhea-AI Summary

Landsea Homes Corporation (Nasdaq: LSEA) has closed on 145 new homesites in Victory at Verrado, a 55+ active adult neighborhood in Buckeye, Arizona. The new homes will be an extension of Landsea Homes' existing Skye Ridge at Victory neighborhood, offering single-family and duplex home floorplans. The community provides resort-style amenities and a scenic mountain setting, with prices anticipated to start in the upper-$300ks. The company aims to cater to the active adult community seeking an enriched quality of life in a beautiful neighborhood.

Real Estate Market Analyst

The acquisition of 145 new homesites by Landsea Homes Corporation in the Verrado master-planned community represents a strategic expansion within a key demographic niche—the 55+ active adult segment. This move is indicative of a targeted growth strategy, capitalizing on the nearly sold-out status of their existing Skye Ridge at Victory neighborhood. The integration of High Performance Home features aligns with increasing consumer demand for energy efficiency and sustainability, which can be a strong selling point and potentially command a pricing premium.

From an investment perspective, the project's anticipated starting prices in the upper-$300ks reflect a competitive positioning within the Arizona housing market. Considering the amenities and lifestyle offerings, such as proximity to golf courses and scenic mountain views, this development could attract a significant buyer interest, thereby generating a steady revenue stream for Landsea Homes. However, investors should monitor local real estate trends, as shifts in the housing market or economic conditions could impact both the demand for new homes and the company's return on investment.

Demographic Trends Expert

The decision by Landsea Homes to focus on the 55+ market segment is reflective of broader demographic trends, where an aging population is looking for housing solutions that cater to an active and amenity-rich lifestyle. The Victory at Verrado community's emphasis on outdoor activities and social spaces is well-aligned with the desires of this demographic, potentially leading to high occupancy rates and a strong community brand.

Understanding the preferences of the 55+ demographic, such as low-maintenance living, accessibility and community engagement, is crucial for the success of such developments. While the approach is promising, it is important to continuously assess whether these preferences shift over time, as this could necessitate changes in design, amenities and marketing strategies to maintain relevance and desirability in a competitive market.

Sustainability Consultant

Landsea Homes' emphasis on High Performance Home features is a significant aspect of their business strategy, as it caters to the growing consumer awareness and demand for sustainable living options. These features likely include energy-efficient appliances, advanced insulation and smart home technology, which not only provide cost savings for homeowners but also reduce the environmental footprint of the community.

As sustainability becomes an increasingly important factor in consumer decision-making, Landsea Homes' incorporation of these elements could enhance their marketability and brand reputation. However, it is also important to ensure that these sustainable features are not just marketable attributes but translate into tangible benefits for residents and the environment. Continuous innovation and adherence to sustainability standards will be key to maintaining a competitive edge in the green housing market.

• New homesites are an extension of Landsea Homes' existing Skye Ridge at Victory neighborhood
• Single-family and duplex homes will include High Performance Home features and multiple customization options

BUCKEYE, Ariz., Jan. 31, 2024 /PRNewswire/ -- Landsea Homes Corporation (Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly traded residential homebuilder, today announced it has closed on 145 new homesites in Victory at Verrado, a 55+ active adult neighborhood in the Verrado master-planned community located in scenic Buckeye, Arizona. These new homes will be an extension of Landsea Homes' existing Skye Ridge at Victory neighborhood, which is almost sold out.

"Our homes at Skye Ridge at Victory have been wildly popular so we're excited to offer 145 additional opportunities for people who are 55+ to enjoy one of our High Performance Homes and live in a beautiful community complete with resort style amenities," said Heather Cammiso, Arizona Division President, Landsea Homes. "With a stunning scenic mountain setting, winding tree-lined streets and parks, homeowners at Victory truly get to experience one of the best places to live in the West Valley, which is a very important submarket for us."

The community will feature single-family and duplex home floorplans. Prices are anticipated to start in the upper-$300ks.*

This distinctive neighborhood for the 55+ community offers amenities designed for the active adult looking to settle into a neighborhood that offers an enriched quality of life. Tucked into the stunning White Tank Mountains, Victory at Verrado offers a breathtaking backdrop with activities ranging from hiking, biking and walking on the many paths and trails that lead from the Verrado community.

Residents will be able to enjoy the area's lush scenery from the top of the greens at The Victory Course, where they can spend the day golfing before heading over to Victory Vineyard for a tasting of local wines and a farm-to-table dining menu.

Bentridge, another Buckeye community by Landsea Homes, is also currently selling. 

For more information, visit: https://landseahomes.com/arizona/maricopa-county-west-valley/buckeye/verrado/skye-ridge-at-victory/.

*Pricing is accurate at time of publication but is subject to change at any time.

About Landsea Homes Corporation
Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Dallas, Texas that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation's most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, Florida, Colorado, Texas and throughout California in Silicon Valley, Los Angeles, and Orange County. Landsea Homes was named the 2022 winner of the prestigious Builder of the Year award, presented by BUILDER magazine, in recognition of a historical year of transformation. 

An award-winning homebuilder that builds suburban, single-family detached and attached homes, mid and high-rise properties, and master-planned communities, Landsea Homes is known for creating inspired places that reflect modern living and provides homebuyers the opportunity to "Live in Your Element." Our homes allow people to live where they want to live, how they want to live – in a home created especially for them. 

Driven by a pioneering commitment to sustainability, Landsea Homes' High Performance Homes are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple^®. Homes include features that make life easier and provide energy savings that allow for more comfortable living at a lower cost through sustainability features that contribute to healthier living for both homeowners and the planet. 

Led by a veteran team of industry professionals who boast years of worldwide experience and deep local expertise, Landsea Homes is committed to positively enhancing the lives of our homebuyers, employees, and stakeholders by creating an unparalleled lifestyle experience that is unmatched. 

For more information on Landsea Homes, visit: www.landseahomes.com.

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SOURCE Landsea Homes

What is the ticker symbol for Landsea Homes Corporation?

The ticker symbol for Landsea Homes Corporation is LSEA.

Where are the 145 new homesites located?

The 145 new homesites are located in Victory at Verrado, a 55+ active adult neighborhood in Buckeye, Arizona.

What type of homes will be offered in the new community?

The new community will offer single-family and duplex home floorplans.

What are the anticipated starting prices for the new homes?

The prices for the new homes are anticipated to start in the upper-$300ks.

What amenities are available in the Victory at Verrado community?

The community offers resort-style amenities and a scenic mountain setting, with activities such as hiking, biking, golfing, and wine tasting.