Meritage Homes Closes on 200-Acres in Orlando to Develop New 700-Home Community

ORLANDO, Fla., Aug. 10, 2017 (GLOBE NEWSWIRE) -- Meritage Homes Corporation (NYSE:MTH), a leading U.S. homebuilder, today announced plans to develop more than 200 acres in Orlando, Florida.

The new Meritage community, which will be named Hawk’s Crest, is located in the highly desirable Winter Park submarket along Lake Howell. Hawk’s Crest will include more than 700 lots, including 250 townhomes and 458 single-family homes. The gated community’s on-site amenities will include lake access, running and walking trails, resort-style pools and a community clubhouse.

“Hawk’s Crest caters to those looking for a health and wellness lifestyle with beautiful homes, open outdoor spaces, lakefront views and resort-style amenities,” said Brian Kittle, Orlando division president of Meritage Homes. “We are excited to bring a much-needed supply of new homes to the market, and make Hawk’s Crest a long-awaited reality.”

Hawk’s Crest will offer four product lines ranging from approximately 1,600 to 5,200 square feet. Ranging from three to six bedrooms, the homes are expected to be priced from $260,000 to $635,000.

Each home will come standard with Meritage’s signature energy efficiency and home automation packages. Meritage is consistently recognized as the industry leader in technologically advanced homebuilding, and is the first local builder to offer solar panels as an upgrade in all its communities. By building healthier, cleaner, more efficient homes, Meritage helps deliver short- and long-term energy cost savings to its homeowners without compromising design.

Hawk’s Crest is one of 21 Meritage communities in the Orlando area. It will be built in phases, expected to open for sale in late 2018 with first closings projected for early 2019.

About Meritage Homes
Meritage Homes is the eighth-largest public homebuilder in the United States, based on homes closed in 2016. Meritage Homes builds and sells single-family homes for first- time, move-up, luxury and active adult buyers across the Western, Southern and Southeastern United States. Meritage Homes builds in markets including Sacramento, San Francisco Bay area, southern coastal and Inland Empire markets in California; Houston, Dallas-Ft. Worth, Austin and San Antonio, Texas; Phoenix/Scottsdale, Green Valley and Tucson, Arizona; Denver and Fort Collins, Colorado; Orlando, Tampa and south Florida; Raleigh and Charlotte, North Carolina; Greenville-Spartanburg and York County, South Carolina; Nashville, Tennessee; and Atlanta, Georgia.

Meritage Homes has designed and built over 100,000 homes in its 32-year history, and has a reputation for its distinctive style, quality construction, and positive customer experience. Meritage Homes is the industry leader in energy-efficient homebuilding and has received the U.S. Environmental Protection Agency's ENERGY STAR Partner of the Year for Sustained Excellence Award every year since 2013 for innovation and industry leadership in energy efficient homebuilding.

Media Contact
Brent Anderson, VP Investor Relations
972.580.6360
media@meritagehomes.com

Released August 10, 2017