Drees to build 25 luxury homes at Miami Reserve in Loveland
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Drees Homes has acquired land in Miami Township, where a new 25-home luxury development is taking shape after years of planning.
Story Highlights Drees Homes is developing 25 luxury homes in Miami Township.
Home prices at Miami Reserve will start at $1 million.
The project is expected to take 18 months to complete.
Another Drees Homes housing development is coming to a Greater Cincinnati community.
Fort Mitchell-based Drees is self-developing and building 25 home sites in Clermont County's Miami Township, located at 890 Wards Corner Road, to be known as Miami Reserve.
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Drees purchased the land in an off-market sale for $600,000. Each lot will stand at a half-acre or more.
Mark Linger, Drees' senior land acquisition manager for Northern Kentucky and Cincinnati, said the homebuilder has been tracking this site, an existing small farm, for five to 10 years.
'This site was a target site for us,' Linger told me. 'We had reached out to them over the years, but they were never really ready to sell. When she was ready to sell and got a broker involved, they reached out independently about the property.'
The property was already zoned, according to Linger. The site is located in the Loveland City School District.
'(This is) a little infill community where there's not a lot of land but there's great schools. It's a great location,' Michael Conklin, division president for Cincinnati, said.
Conklin said a 25-site community is on the smaller end for Drees, but that its return on investment is much greater when it can 'turn a community' quickly.
The homes will range from 2,400 to 4,000 square feet. There will be about nine to 10 floor plans offered including many two-story plans and a few ranches.
The development will be a higher-end product, according to Conklin, with high-end finishes, masonry exteriors and side-entry garages.
Home prices are expected to start at $1 million and go up from there.
'Our product will be for all demographics,' Conklin said. '(It's) a community that has a lot of existing people who have lived there their whole lives, but they want to downsize. So they'll be looking at ranches.'
Homes will have four to five bedrooms and two-and-a-half to four bathrooms.
Conklin said there will be a homeowners association to maintain common areas.
The project is expected to take about 18 months. Currently, the site is under development after a groundbreaking last week. Drees expects the development phase to take two to three months and for sales to start in late summer this year.
Conklin said Miami Reserve will be similar to the homebuilder's Sycamore Woods development in Sycamore Township.
Overall, Conklin and Linger said Drees is continuing to look up the Interstate 75 corridor for opportunity as growth continues.
'Dayton and Cincinnati continue to grow together,' Conklin said.
Drees is also currently self-developing Tollhouse Farms, a 67-home community in Lebanon, with homes starting at $555,000.
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