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Avex Homes LLC will build 166 single-family homes in a planned Titusville community called Brookshire, Vice President of Land Jim Reinert said.
Development of the subdivision, Avex’s first in Brevard County, will kick off in February.
Space Coast amenities, Orlando access
Brookshire will include homes that range from 1,800-2,800 square feet, with prices starting in the mid-$200,000’s, Reinert said. That’s slightly bigger and costlier than the typical home in Titusville, which is 1,546 square feet and sells for $232,500, according to Realtor.com.
Avex bought the property from Garden Street Investors LLC, a firm related to Kissimmee-based JTD Land Company LLC, for $3.15 million, according to Brevard County records. JTD Land executives could not be reached for comment.
Brevard County’s robust job market, driven by industries like aerospace, defense and manufacturing, make the Space Coast an appealing place for residential development, Reinert said. Plus, residents still have easy access to the east side of Orlando.
“For the commuter who wants the amenities that the Space Coast offers — the beach, other recreation — you can have a pretty reasonable commute along State Road 528 and Interstate 95, smooth sailing,” Reinert said.
Growing its footprint
Avex has communities across the Orlando and Tampa metro areas, with a number of developments in the works. Those include a 134-home subdivision set to break ground near Mascotte in the spring and a 365-home mixed-use site in St. Cloud.
Rapid growth is in Avex’s sights. Beat Khali, CEO of Avex parent company Avalon Park Group, previously told Orlando Business Journal, he quickly wants to make Avex a top-100 homebuilder in the U.S.
New real estate construction is important locally because it creates jobs and subcontractor opportunities, and every home sale in the state has an estimated local economic impact of $77,858, according to a 2018 study by the National Association of Realtors. In addition, the housing market often is considered a reflection of the overall health of the local economy.