Lennar wishes to establish a 521-unit townhouse project in Florida City, marking the firm’s continued guess on south Miami-Dade County.
The Miami-dependent homebuilder’s land bank, Scottsdale, Arizona-based Garrett Advancement Company, acquired the 37.8-acre growth internet site for $20.4 million from an entity led by Elizabeth Worley, Thomas Blakley and Bryan St. Germain, in accordance to documents and real estate databases Vizzda. The deal breaks down to $539,540 for each acre.
Lennar signed a obtain selection arrangement with Garrett Growth to buy and acquire the site, data demonstrate.
Led by co-CEOs Jon Jaffe and Stuart Miller, Lennar has been earning hefty investments in Florida Town, as properly as surrounding neighborhoods. South Miami-Dade has an sufficient offer of developable land that will come at a low cost in comparison with the county’s city core.
Also in Florida Metropolis, Lennar dropped $18 million for nearly 11 acres at 75 West Palm Generate in December. Records show the homebuilder ideas a 174-device townhouse advancement referred to as Ocean Gate Village.
The purchase arrived on the heels of Lennar having to pay $7 million for 231 homesites on a 40-acre website in between Southwest 336th Avenue and Southwest 340th Road in unincorporated south Miami-Dade.
