New Community in Plainfield Marks Homebuilder’s Second Del Webb in Metro Area
PLAINFIELD, Ind., Jan. 21, 2014 – PulteGroup announced today plans to open a new Del Webb community west of Indianapolis, marking the homebuilder’s second active adult neighborhood in the growing market.
The new Del Webb community in Plainfield will include 475 homes and be the first of its kind in Indianapolis’ growing West corridor, said Tony Barbee, president of PulteGroup’s Midwest Division.
“This new Del Webb community is ideally located for those boomers who want to continue to work and live in the city,” Barbee said, adding that the active adult market represents one of the fastest-growing segments of the housing industry. “We know many baby boomers will continue to work as they look to semi-retire or make plans to buy their new home for the future. This will truly be a unique active adult community with its intimate size and sought-after location.”
Catering to the increasing number of baby boomers across the nation who want to live a retirement lifestyle while still working in some capacity, Barbee said the site is ideally situated near freeways and major employment corridors. According to a recent Del Webb Baby Boomer Survey, 79 percent of boomers ages 50 to 60 anticipate working in some capacity, even after they retire from their current job.
Barbee said the new Del Webb 55+ community offers much-needed geographic diversity to local baby boomers seeking to live in southwest metro area. In 2006, Del Webb opened its popular Britton Falls community in Fishers northeast of Indianapolis, where the majority of buyers come from the immediate area.
The new Del Webb community will be part of a larger 270-acre master plan in Plainfield called Vandalia that will also include a 265-unit Pulte Homes neighborhood for growing families. Barbee said sales are projected to begin in late 2015 with the first closings in 2016.
PulteGroup closed on two transactions with separate land owners last month to commence the purchase of the Vandalia master plan, which also includes about 70 lots that the company will sell to custom builders.
“Vandalia will provide a great opportunity to the underserved active adult buyer in the area and an unparalleled value for the move-up family buyer,” Barbee said. “We are very excited about bringing our highly regarded Del Webb and Pulte brands to Plainfield. The town has a classic small Midwestern feel, yet has established itself as a vibrant and growing submarket located near the airport with easy access to downtown."
With the expansion of the Indianapolis International Airport just east of Plainfield, the growing submarket offers a perfect location with abundant recreational, retail and dining experiences nearby, Barbee said. He said the active adult and family Vandalia neighborhoods will be distinct, but share the benefits of the area’s healthy job market, good school system, nearby employment hubs, health care facilities, and direct access to the town’s parks and extensive trail system.
“The Town is thrilled that these Del Webb and Pulte communities are coming to Plainfield because they will create a high-end residential development that will have a long lasting effect on the community,” said Robin G. Brandgard, Plainfield Town Council President. “The addition of an active adult community is significant not just from an economic standpoint, but also because Del Webb residents have a history of supporting school, civic and charitable organizations with their time, talents, and resources.”
About Del Webb
Del Webb is a national brand of PulteGroup, Inc. (NYSE: PHM). Del Webb is the pioneer in active adult communities and America’s leading builder of new homes targeted to pre-retirement and retiring boomers. Del Webb builds consumer inspired homes and communities for active adults ages 55+ who want to continue to explore, grow and learn, socially, physically and intellectually as they look forward to retirement. For more information on Del Webb, visit www.delwebb.com.
About Pulte Homes
Pulte Homes is a national brand of PulteGroup, Inc. (NYSE: PHM). Pulte Homes builds consumer inspired homes and communities that provide the move-up buyer the best quality of life. Only Pulte Homes offers the combination of innovative Life Tested Home Designs® with an unwavering commitment to quality and attention to detail. For more information about Pulte Homes, visit www.pulte.com.