Houston-based Perry Homes, one the nation's largest homebuilders, is expanding outside Texas by entering South Florida and other markets in the Sunshine State.
The company said it's selling more than 100 homes priced from the $700,000s at Glynlea Country Club in Port St. Lucie, Florida. It's the largest city in St. Lucie County and about 50 miles northwest of President Donald Trump's Mar-a-Lago estate in Palm Beach.
Privately held Perry, founded in 1967, is the nation's 22nd-largest U.S. homebuilder based on 4,554 sales last year, according to Builder magazine. It builds in the Texas markets of Austin, Dallas-Fort Worth, Houston and San Antonio.
Aside from Port St. Lucie, Perry said it expects to start construction at an Orlando, Florida, development this year and also has plans in the Florida markets of Tampa, Sarasota and Jacksonville.
"Perry Homes expanded into Florida now because the state continues to experience strong population growth, housing demand and strong market fundamentals," Garrison Taska, the company's Florida division president, told Homes.com in an emailed statement.
Treasure Coast offers lifestyle benefits
In recent years, South Florida residents in Miami, Fort Lauderdale and West Palm Beach have moved north to Martin and St. Lucie counties. The so-called Treasure Coast offers more affordable options and land while still remaining within a reasonable commute to jobs centers and entertainment options, said Chris Montgomery, senior market analyst for Homes.com.
"Perry Homes’ expansion into St. Lucie reflects a growing trend among buyers seeking attainability without sacrificing quality," Montgomery said. "New construction homes in these areas offer modern amenities at a lower price point than West Palm Beach, Fort Lauderdale or Miami. While some buyers face longer commutes, many view the trade-off as an opportunity to enjoy more space, less congestion and a lifestyle that prioritizes family and community."
Also on the Treasure Coast, Toronto-based Mattamy Homes recently started the second phase of its 4,200-home Newfield development in Martin County's Palm City.
Homes in Port St. Lucie generally range from near $250,000 to $1.1 million, with a median sale price of $401,000, Homes.com data shows. Port St. Lucie has experienced a surge in growth over the past 30 years and now is the state's sixth-largest city with a population of more than 258,500, according to the latest U.S. Census data.
Perry is one of multiple companies building in Glynlea, a community with more than 850 homesites. It surrounds a golf course designed by 2003 U.S. Open champion Jim Furyk.
Taska said Perry will consider building in other parts of South Florida.
"As we continue to establish strong trade relationships and build out our operational teams, we’ll look to grow in areas where we can deliver the quality, consistency and experience Perry Homes is known for," he said.