Lennar Acquires 500 Homesites at Cane Bay Plantation in Summerville

The Coastal Carolina Division of Lennar Announces the Acquisition of 500 Homesites in the Tri-county’s Premier Community, Cane Bay Plantation.

Charleston, SC, July 19, 2010 --(PR.com)-- The Coastal Carolina Division of Lennar recently announced the acquisition of 500 homesites in the Tri-county’s premier community, Cane Bay Plantation. Lennar’s 175-acre purchase marks one of the largest real estate transactions by a homebuilder this year.

Despite a turbulent housing industry, Lennar pursued this prodigious acquisition because of their belief in Charleston and the economic recovery.

“We are seeing some really positive movement in the economy right now and that translates to more jobs and more housing starts. We look forward to continued economic growth,” said Robert Hilliard, president of Lennar’s Coastal Carolina Division. “As one of the leading homebuilders in the nation, Lennar is committed to Charleston and we will continue to offer our customers high quality homes at affordable prices in wonderful communities,” Hilliard said.

Lennar will develop its own unique village within the greater Cane Bay community. Proposed amenities for this village of 500 homesites include a pool, cabana, open-air pavilion, lakes and plenty of green space. Lennar will offer a variety of new PowerSmart®, energy conscious homes. Lennar expects to begin selling homes at Cane Bay Plantation in 2011.

“We are thrilled at the opportunity to build new homes within Cane Bay Plantation,” Hilliard said. “The community is tremendous and offers its residents an incomparable lifestyle with close proximity to excellent schools, shopping, healthcare and recreation.”

The developer of Cane Bay Plantation is eager to welcome Lennar to the community.

“We’re excited to introduce a quality builder like Lennar to Cane Bay Plantation,” said Ben Gramling, III, Gramling Brothers Real Estate and Development. “We believe this will give buyers another great option in this community.”

Ranked as the number one selling community in Charleston in 2008 and 2009, Cane Bay Plantation features an on-site, state-of-the–art elementary and high school with a middle school coming in 2011-2012. And for those who enjoy nature at its finest, Cane Bay Plantation does not disappoint with its 15-mile trail system and abundance of lakes and green space. With shopping down the road, Cane Bay Plantation, located along Highway U.S.176 in Berkeley County, offers an ideal place to live, work and play.

Lennar Corporation, founded in 1954, is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable first time, move-up and retirement homes in communities that cater to virtually any lifestyle. Lennar’s Charleston area communities include St. Charles Place, Hunters Bend, Wentworth Hall, Quail Hill, and Foxbank Plantation. Lennar is committed to quality, value and integrity.

For more information visit LennarCharleston.com or contact:
Ann Ivey, Lennar, Director of Sales, Coastal Carolina, 843-266-4473;ann.ivey@lennar.com

Allison Rosoff, Cohen and Company Creative, 954-813-230-4344; allison@cohenadv.com

Cohen & Company Creative, Inc
Allison Rosoff