Lennar Opens 28 New Central Florida Communities And Adds 45 Jobs

“ On The Momentum Of The High-Speed Rail Initiative ”

Lennar's Celery Estates Community in Sanford, Florida

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(iRealtyWire.Org) – ORLANDO, Fla. --- The federal government’s pledge to spend $1.25 billion to jump-start Florida’s high-speed rail project linking Orlando and Tampa could prove a major boost to the homebuilding industry and help bring back lost jobs, says one of Florida’s largest homebuilders.

Lennar’s Central Florida Division, which builds new single-family homes and town homes priced from the $90s to the $400s in more than 30 Lennar communities in Central Florida, announced it plans to open 28 new communities and add 45 new jobs in the Tampa and Orlando regions.

Lennar has contracted to purchase more than 500 homesites in eighteen new communities in the Orlando Region and more than 200 homesites in ten new communities in the Tampa Region. Prices will range from the $130s to $400s.

Mark Metheny, president of Lennar’s Central Florida Division, said Lennar expects to emerge from the recession as the dominant homebuilder in the Central Florida region.

“I’m not sure most people understand what a huge beneficial impact the high-speed rail project will have on the Tampa-Orlando corridor,” said Metheny. “Thinking of it as a novelty is like thinking of Disney as an amusement park. Over the next 20 years, high-speed rail will generate major new economic development that will vastly improve the choices of Central Florida residents. Lennar plans to provide the best choices in lifestyles, communities and new homes.”

Metheny said Lennar has been planning its Central Florida expansion for more than a year.

“We have been carefully monitoring economic conditions and the timing of this announcement is no accident,” said Metheny. “The residential real estate market was on the forefront of the economic downturn. Likewise, homebuilding will be one of the first industries to experience recovery and we are seeing those positive indicators now. Lennar is very bullish on Central Florida.”

For more information on Lennar’s Central Florida Communities, visit http://www.lennar.com.

About Lennar Corporation
Lennar Corporation, founded in 1954, is headquartered in Miami, Florida and is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up and retirement homes in Communities that cater to almost any lifestyle – such as urban, golf course, Active Adult or suburban Communities. Currently the company builds homes in 17 different states in some of the finest markets across the country.


For more information contact:

Mark Metheny, Lennar Division President-Central Florida, 727-479-1700

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Disclaimer If Needed By Publication:
Some of the statements in this press release are "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our business, financial condition, results of operations, cash flows, strategies and prospects. You can identify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described under the caption "Risk Factors" in Item 1A of our Annual Report on Form 10-K for our fiscal year ended November 30, 2009. We do not undertake any obligation to update forward-looking statements, except as required by Federal securities laws.