Dream Finders Homes (DFH), a publicly traded homebuilding company, is expanding into the active adult market with a new brand of communities called “Reverie.” The company is leveraging its sales success in their existing active adult community, Reverie TrailMark, in the St. Augustine, Florida area. The word “reverie” means daydream and reflects the idyllic lifestyle that DFH hopes to represent with their amenity-laden properties. The company is not alone in seeing robust demand from empty-nesters and those 55 and over (really 75 and older) as an avenue of growth and hopes to leverage their experience with homebuilding to provide well-planned communities. A competitor of theirs, Toll Brothers, has already been quite active in the space.
The two just-announced Reverie communities are both in northeast Florida. Reverie Palm Coast will be a 480-acre community featuring 421 single-family homes starting in the low $300,000s. The property boasts more than 200 acres of open space with natural vegetation. Development is underway with sales expected to start in June of this year.
The second location will be a part of their existing multifamily community Silverleaf. Located in St. Johns County, the overall community spans nearly 8,500 acres and includes seven miles of the St. Johns Parkway. The Reverie will consist of 125 acres and will feature 352 single-family and villa homes that focus on outdoor living. Development is underway with sales expected to commence in the fall.
DFH also broke ground last July at Everlake, which lies on 200 acres in the Mandarin area of Jacksonville, and has 192 paired villa homes planned for construction. Their two other sites, both in Florida, were opened for sales last year: Reverie at TrailMark near St. Augustine with 181 homes and Scottsmoor at Halifax Plantation in Ormond Beach with 72 homes.
