One of the nation's largest homebuilders is selling properties inside its newly built community in upstate New York.
Lennar said Monday that single-family and townhouse units are available at Tuxedo Reserve — a 1,200-acre development in the rural town of Tuxedo. Lennar broke ground on Tuxedo Reserve in June, marking the Florida-based company's first development in the Empire State. Tuxedo Reserve is coming online just as that region of New York desperately needs more housing, local market watchers say.
Residents of Tuxedo Reserve will be close to a forthcoming shopping center called The Village. They can also access outdoor pools, a clubhouse, a fitness center, basketball and squash courts, and dog parks. Lennar officials noted that their development sits between Harriman State Park and Sterling Forest, granting residents access to hiking trails.
Tuxedo Reserve is "a vibrant, connected community designed to deliver a complete lifestyle experience," Dana Romano, Lennar's New York and New Jersey manager, said in a statement Monday.
"The start of sales brings us one step closer to bringing the decades-long vision of Tuxedo Reserve to life," Romano said.
Lennar said the entire development of Tuxedo Reserve is not complete yet but will be finished in phases. What's available now is a hamlet within Tuxedo Reserve called West Terrace. Homes in West Terrace range from 2,200 to 3,000 square feet, with three or four bedrooms and two and a half to four and a half bathrooms. The builder said pricing starts at $700,000.
Lennar is looking to move in its first West Terrace residents this winter, the company said. Lennar is the nation's second-largest home builder, with developments in 29 other states.
The Hudson Valley's 'underbuilt housing'
Tuxedo is a small town of about 4,000 along New York's Hudson Valley, roughly 30 miles north of Manhattan. Within the town sits an even smaller gated village called Tuxedo Park, where residents have included Whoopi Goldberg and Cyndi Lauper. Tuxedo is also known for housing the New York Renaissance Faire.
In the Hudson Valley, a pressing need for more homes has sent the price of existing properties skyward. The median home sales price in Orange County — where Tuxedo resides — grew to $460,000 in July, according to the latest data from the Hudson Gateway Association of Realtors.
"The region has also severely underbuilt housing, which has contributed to a depressed housing stock and a situation where demand has far outpaced supply," a 2024 housing outlook from local research firm Hudson Valley Pattern for Progress said. "And, although data are scant, many corporations are also purchasing homes to rent them back to local families."
