News

3/29/2005

Mercedes in the News

Developers Smitten With Townhomes
By Christine Perez
Dallas Business Journal
 
Excerpt: "A bit to the west [in Lewisville, TX], Mercedes Homes, based in Melbourne, Fla., is building 190 townhomes with a project called Carrington Village at Business State Highway 121 and F.M. 3040. Mercedes is selling about 12 of its 41-acre tract to a multifamily developer and about 1.5 acres at the corner to a commercial developer.

The two-story units in Carrington Village will be detached, said Jennifer Heil, director of land acquisition and development for Mercedes.

"They'll provide opportunity for ownership without a common wall, " she said. "It gives owners the freedom of not having the upkeep they'd have with a single-family home, without having to share a wall with another resident."

Units will range in size from 2, 000 square feet to more than 3, 000 square feet, and cost from $180, 000 to $230, 000 or $240, 000, depending on finishes. Mercedes hopes to start building next February, after infrastructure is complete, with the homes ready for occupancy in summer 2006.

If the project is a success, Heil said Mercedes likely will pursue other townhome projects in North Texas. "