D.R. Horton acquires Lexington Homes
Large national builder discloses plans for its first subdivision hereOctober 11th, 2018
After acquiring Spokane-based Lexington Homes Inc. early this summer, Arlington, Texas-based homebuilder D.R. Horton is expanding its operations into the Spokane market.
Lexington Homes now operates as a subsidiary of D.R. Horton, which claims to be the largest homebuilder in the U.S. in a press release regarding the transaction.
The terms of the transaction weren’t disclosed and representatives of D.R. Horton couldn’t be reached immediately for comment.
The D.R. Horton press release, which was issued in late September, says the first development the company plans for the Spokane area will be called Fairway Greens. The development will be located on the West Plains at 7934 S. Fruitvale, on the northwest edge of the Fairways at West Terrace golf course and near the site of the Amazon.com Inc. fulfillment center, which is under construction. Horton plans to build 55 single family homes ranging from 1,499 to 2,579 square feet. Prices are expected to begin in the mid-$200,000 range, and the company plans to start selling homes soon.
D.R. Horton’s website indicates the company is also taking over construction of the Rock Ridge housing development, to be built at 5718 N. Vista Park Drive in Spokane Valley.
Dave Nerren, formerly president of Lexington Homes, will oversee Spokane-area operations for D.R. Horton, the release states.
Nerren says in the release, “We are excited to join the D.R. Horton team and look forward to being able to provide even more value to our homebuyers by leveraging the scale of the nation’s largest homebuilder while continuing to exceed expectations.”
Lexington Homes began in Spokane in 1997. The company constructed and moved into its own building at 11900 E. Broadway in 2005. D.R. Horton was founded in 1978.