NEWS
March 16,2017 - Builder gains entry to coveted community
Business Observer
By: Business Observer
March 15, 2017
Babcock Ranch — Miami-based Lennar, the second largest homebuilder in the country, has joined the roster of builders at Babcock Ranch.
“We are excited to be working with Lennar to expand access to the environmentally-friendly, active lifestyle we are creating at Babcock Ranch,” says Syd Kitson, Chairman and CEO of Babcock Ranch developer Kitson & Partners, in the release.
Other homebuilders in Babcock Ranch, one of the largest proposed master-planned communities on the west coast of Florida, include Naples-based Fox Premier Builders, Homes by Towne and Stock Development. Construction of some model homes began late last year.
Straddling the border of Charlotte and Lee counties, the environmentally friendly Babcock Ranch is projected to eventually be home to about 50,000 people, 19,500 homes and six million square feet of commercial space. Kitson & Partners has invested more than $175 million in the project and will spend another $125 million for the first phase through 2019, according to bond documents.
Lennar has built more than 60 communities in Southwest Florida. On a national scale, it had $11 billion in sales 2016.