K. Hovnanian Cambridge Homes LLC is gearing up to build 489 homes in two Central Florida communities, a sign that demand for new homes is making a comback.
The Orlando division of Red Bank, N.J. based builder is expected to build 450 single-family homes instead of the previously approved 1,150 condos and townhomes on a 182.7 acre site in Cypress Creek Golf Club. It will also seek approval from the Orange County Commission on May 11 for a land-use change that would allow it to build a 39 home subdivision on a 20 acre site on Winter Garden-Vineland Road near the Walt Disney World Resort. The company currently has existing active communities in Pepper Place, Winder Oaks, Lake Arnold Reserve, and Baldwin Park Bungalows.
The Orlando area hd a 34 percent drop in new home closings from 3,865 in 2008 to 2,721 in 2009.
Contents of article from the Orlando Business Journal
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