Fort Worth-based D.R. Horton Inc., the largest U.S. homebuilder, is adding a new line of affordable homes aimed at seniors to its lineup of brands.
The new brand, Freedom Homes, will initially be offered in Florida, Texas and Arizona and be open in at least eight markets by the end of fiscal 2016 and in approximately one-third of D.R. Horton’s 78 operating markets by the end of fiscal 2017, according to a company news release. No details were provided on pricing or square-footage of the new brand.
According to a report from Bloomberg, D.R. Horton said in a conference call last week that its lower-cost Express homes, aimed at younger, entry-level buyers, have been popular with seniors in markets with many retirees.
“We are excited to offer Freedom Homes as an affordable alternative for active adults seeking a carefree low-maintenance lifestyle in an age-restricted community,” said Donald R. Horton, chairman of the board. “We strive to be the leading builder in each of our operating markets across our broad geographic footprint, and the addition of Freedom Homes to our diverse family of brands will allow us to continue to expand our industry-leading market share.”