The development can now build 500 more homes, bringing the total to 3,900.
Minto Communities has closed on a 260-acre property east of the current Latitude Margaritaville Daytona Beach community with the purpose to expand the development by 500 homes, the developer announced on Monday, Jan. 11.
Minto can now build 3,900 homes at Latitude Margaritaville, a 55-and-over community located off LPGA Boulevard, the press release states. President William Bullock said the community has maintained "very strong sales."
"We hit a major benchmark recently when we closed on the community’s 1,000th home, and sales continue to exceed our initial projections," said Bullock in the press release. "The location of this additional property is ideally suited to accommodate expansion of the community while maintaining connectedness with existing homes and amenities.”
Homes in Latitude Margaritaville begin in the low $200,000, and Minto reports over 350,000 people are registered "Latitude Margaritaville Paradise Club" members, receiving regular updates on the communities and are considered prospective buyers.
In June 2019, the Latitude Margaritaville Daytona Beach Town center opened, which includes a town square with a bandshell, fitness center, pool, dog park, and tennis and pickleball courts. Its private beach club in Ormond-by-the-Sea is scheduled to open this month.