Meritage is set to expand its southeastern presence by moving into Tampa and winding down some of its Vegas operations as part of the repositioning.
Meritage Homes is set to expand its southeastern presence by moving into Tampa, according to a press release. It is beginning to secure land positions for its new Tampa division and plans to begin building energy-efficient homes in Tampa during the first quarter of 2012.
This is Meritage's second new expansion market this year. The home builder entered the Raleigh-Durham, N.C., market in April and opened its first communities for sale there in October. Meritage Homes is one of the top 10 homebuilders in the nation, and among the top five homebuilders in many of its largest markets.
As part of this repositioning, Meritage will be slowing down its home building operations in Las Vegas as it builds out and completes its existing open communities. The company intends to sell the remaining lots in communities it has not opened, and expects to incur charges of approximately $8 million related to these plans during the fourth quarter of 2011.
For more information: www.meritagehomes.com