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Business Observer Friday, Jun. 23, 2017 4 years ago

Homebuilder buys land east of Interstate 75

M/I Homes plans to create 90-foot home sites in Sylvan Lea.

SARASOTA — The Sarasota-Manatee Division of M/I Homes acquired a land tract in Sarasota where it plans to build 56 homes.

The purchase price wasn't disclosed in a release or immediately available in property records. The land is in Sylvan Lea, a wooded community of single-family homes off Porter Road, between Leewynn Drive and Raymond Road, in north Sarasota east of Interstate 75, according to a statement. The homebuilder plans to create 90-foot home sites and construct 56 new residences behind the existing 46-home neighborhood, the release adds. M/I Homes will also build pads within the existing canopy to retain the mature oaks

“This is an exciting opportunity to capitalize on the natural beauty of this landmark community, while preserving what the existing residents have come to know and love about it as much as we have,” M/I Homes Area President David Hunihan says in the release.

M/I Homes will be showcasing four to six floor plans in the community, with the first model home scheduled for completion this fall. Prices start from the high $300s to low $400s, and homes will have from 2,100 square feet to 3,000 square feet of living area.

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