Volume homebuilder Meritage to debut small South Austin community

Oct 10, 2014
Austin Business Journal

One of the largest volume homebuilders in the U.S. is embarking on a new strategy in Austin, which includes building small infill communities near downtown

Meritage Homes Corp. will build Solavera, an upscale 15-unit development in the South Lamar Boulevard corridor. Interest already is so strong that the homebuilder will hold a lottery for qualified buyers, according to Charlie Coleman, Austin division president of Meritage Homes

Though Meritage will continue to build in larger suburban communities from Buda to Pflugerville to Lakeway, the company wants to go head-to-head with Austin infill specialists such as PSW Real Estate, which recently announced a couple of new projects along the Spicewood Road corridor

Solavera encompasses a little over three acres at 2807 Del Curto Road, a short distance east of the intersection of South Lamar Boulevard and Manchaca Road

Meritage purchased the vacant site, which was fully entitled, from Shawn Breedlove, principal of local real estate company Four Seasons Land and Development LLC

Infrastructure work has started and Meritage will begin building single-family detached houses by the end of the year. An event is scheduled for the evening of Oct. 9 to showcase the community for a select group of Realtors. Next week Meritage will have a VIP event for potential buyers

Qualified buyers will have their name entered into a lottery. Potential buyers must be pre-qualified for a loan of $520,000 or more, Coleman said

Though final home prices will be determined in the next two weeks, prices likely will begin in the $600,000s for the contemporary-styled houses that range in size from 1,814 to 2,866 square feet

Coleman said he’s looking for more infill sites, especially in South Austin

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