Business: An upscale Jim Walter Homes?

An upscale Jim Walter Homes?

By KYLE PARKS

As land starts to run out around the Tampa Bay area, homebuilders need to adapt.

The latest example: U.S. Home Corp., the largest homebuilder in the area, has started a program to build homes "on your lot."

These aren't the $60,000 homes that Jim Walter Homes has specialized in for years. These are $200,000-plus homes that will go up on lots owned by home buyers in pricey areas such as South Tampa or St. Petersburg's Snell Isle.

"In many cases, we will be going into a situation where the previous home is being torn down," said Francine Miller, president of U.S. Home's Central Florida division, which encompasses Hillsborough, Pinellas and Pasco counties. "This expands our business into areas that are already built out."

For years, U.S. Home has specialized in building homes in new subdivisions. It's now working on two Hillsborough communities, Heritage Harbor and Heritage Isles.

But those opportunities will shrink as land runs out, so U.S. Home is getting ready. Its Laureate home series was first introduced in areas such as Denver and Southern California where vacant lots are scarce.

The company also can help home buyers who want to find somewhere to build, U.S. Home officials said, setting them up with brokers who can scout out property.

"People are going to be looking more and more at infill properties as time goes along," Miller said.