D.R. Horton Inc. has purchased 78 lots in the Whispering Ridge development in Lake Wales.
The home builder recently closed on the lots and is going through the permitting process, according to Misty Boies, South Central Florida Sales Area Manager. Boies added construction will begin in about a month and homes will be finished in about three months.
The lots range from 55 to 75 feet wide in Whispering Ridge, which is south of State Road 60 off of 11th Street.
Boies explained that D.R. Horton is a spec builder and it usually starts a community with four spec homes plus the model. As soon as a spec home is sold one or two more are released right behind it.
“So we always have inventory ready now for sale,” Boies wrote in an email. “This really sets us apart from the other builders.”
D.R. Horton has 15 open communities in Polk but is adding more, Boies said. By December the company will have 17 communities on the ground.
In addition to Whispering Ridge, D.R. Horton’s other communities in the county include: Magnolia Reserve in Lake Alfred, Patterson Groves and Lake Tracy in Haines City, Sereno in Davenport, Wind Meadows and Magnolia Walk in Bartow, Huntington Summit in north Lakeland, Eagle Brook in south Lakeland, Central Pointe, Hidden Creek, Brenton Manor, Hampton Cove and Lake Smart in Winter Haven and Berkley Reserve in Auburndale.
Founded in 1978, the company said it has delivered more than 445,000 homes to homebuyers.
It noted that for each of the past 11 years, it has delivered more homes to customers than any other home builder in the United States.
D.R. Horton Inc. is a publicly traded company, listed on the New York Stock Exchange under the ticker DHI.
The stockholders’ equity as of June 30, was $3.9 billion, the highest of the public homebuilders.
The company’s total home cash as of that date totaled $706.6 million.