The homebuilder Lennar Corp. (NYSE:LEN) has acquired nine neighborhoods totaling 1,273 homesites in the Tuxedo Reserve, located in the Hudson Valley region of New York.
Based in the town of Tuxedo and formerly known as Tuxedo Farms, the master-planned community will encompass townhomes, stacked townhomes, single-family units and active adult neighborhoods; amenities will include hiking and biking trails, sports courts and a clubhouse.
The financial aspects of the transaction were not disclosed. A grand opening at Tuxedo Reserve is being planned for the second half of 2024.
“We are excited to expand our presence in the New York market and to have the opportunity to bring our design expertise and industry leading innovation to this one-of-a-kind location in this prestigious setting,” said Anthony Mignone, New Jersey/New York division president for Lennar. “We look forward to partnering with the Town of Tuxedo, New York to make this master-planned community a destination of choice for those desirous of the Hudson Valley home ownership lifestyle.”