1,008 acre community in Plant City, Florida is now open and expecting over 150 new residents in the first year.
SCOTTSDALE, Ariz. – Walton Global, a real estate investment and land asset management company, and D.R. Horton, America’s largest homebuilder by volume, are pleased to announce that the Farm at Varrea, one of the largest communities in the rapidly growing Plant City, Florida has welcomed its first two families. Located just off Midway Road and less than 10 minutes from I-4, the Farm at Varrea offers quick access to the large surrounding cities such as Tampa, Orlando and Lakeland.
“We are honored to support the massive population growth in Florida with quality homes in the Farm at Varrea. The concept for this community has been well executed by D.R. Horton,” said Rick Harcrow, Vice President, Asset Management for Florida at Walton Global. “The significant influx of potential homebuyers and expected homes sales in this community has confirmed that the U.S. housing market remains strong and the need for new home development is prominent.”
The Farm at Varrea is expected to welcome over 150 new residents in the first year and currently has over 130 new homes under construction. Plans for the community include single-family detached homes, townhomes and twin villas. Amenities in the community include a resort-style pool, fitness center, sport courts, dog parks, playgrounds and trails throughout the neighborhood. Farms at Varrea offers a short commute to local schools, Downtown Plant City and a mainstreet with unique shops, restaurants and entertainment.
Frank Messina, D.R. Horton Tampa North City Manager, said, “It was a pleasure working with Walton Global to help bring our Farm at Varrea community to life. This flagship community’s plans consist of 1,940 homesites providing a home for every stage of life offering single-family homes, townhomes and villas with a unique modern farmhouse aesthetic throughout the community. We are pleased to showcase eight decorated models and are now selling homes starting from the upper $200s.”
Initiated in 2019, the Farm at Varrea represents the first option agreement structure that Walton Global now uses as a standard model for its business that is highly successful. The structure was designed to provide home builders with flexible land purchase options as part of their home building process.
Harcrow added “The Varrea project has been a significant undertaking over the past few years from a development and construction standpoint. Now that the project is underway, we are excited for the deferred payment revenues to come in over the coming months and pass on distributions to our investors, globally.”
