"Housing boom" and "huge demand" are not phrases you would use to describe the Florida housing market in recent years. Especially not when the number of under water mortgages in Orlando still exceeds 45%.
But demand was so great in the new Parkside community in Dr. Phillips that builder Meritage Homes had to hold a lottery to accommodate the demand. The planned 315 home community awarded it's first 20 lots on Thursday.
According to the Orlando Business Journal, there were 96 qualified applicants for the 20 available lots in Parkside but the number of buyers interested in buying homes in the community is nearly 500.
Parkside is being build on 105 acres of land on Apopka-Vineland Rd. and Buenavista Woods Blvd.