Despite a cooling housing market, two public homebuilders are seeing stronger sales of their multigenerational living product.
Miami-based Lennar Corp. and Newport Beach, California-based Landsea Homes Corp. are seeing stronger sales of this unique product amid high rental and mortgage interest rates.
Lennar's Phoenix division was the first to introduce the concept in 2011, and Lennar divisions across the country are following suit, said Alan Jones, Phoenix division president for Lennar.
With 50 communities in metro Phoenix, Lennar Corp. is opening a new community early next year near the Taiwain Semiconductor Manufacturing Co Ltd's 1,128-acre manufacturing plant under construction in north Phoenix.
