Homebuilder Lennar (LEN) is bringing its Next Gen multigenerational housing concept to San Diego as more California families search for ways to obtain affordable housing.
The Next Gen design, which offers a private additional suite so multiple families can live under one roof with one mortgage payment, will be offered in San Diego on Aug. 25.
Lennar's Crescent Heights community at Sky Ranch in Santee will be the first San Diego-area neighborhood to feature the housing concept.
Next Gen homes were created by Lennar last year in response to an economy that is forcing older and younger Americans to move in with their families.
"We have created this plan to allow for dual living situations without sacrificing comfort - it's literally a home within a home," said John Baayoun, division president for Lennar.
Every Next Gen suite includes a separate entrance, living space, kitchenette, bedroom, full bath and an optional washer and dryer as well as a one-bay garage.
The multi-generational housing concept has already attracted buyers in the rollout market of Arizona, where more than 100 homes were sold out of the Next Gen series in the past six months.