D.R. Horton proposed a 108-townhome complex in Florida City, as it rushes to build in south Miami-Dade County.
Texas-based D.R. Horton slated the project for a 7.2-acre site at 530 Southwest Third Avenue, 354 Southwest Seventh Street and two adjacent lots, according to the developer’s application filed to Miami-Dade County late last month.
The homebuilder is under contract to purchase the four-lot property at an undisclosed price, the application says.
The Torcise family, longtime farmers in the Florida City area, own the site, according to records.
The project would consist of two-story buildings with five- to 12 townhomes, the site plan shows.
Led by CEO Paul J. Romanowski, D.R. Horton is the largest homebuilder nationwide.
The firm has been a home developer for years in south Miami-Dade, an area with an ample supply of cheaper buildable land.
Over the past five years, D.R. Horton completed 16 percent of all single-family homes and townhomes built in south Miami-Dade, according to Colliers Research. D.R. Horton also is responsible for 23 percent of the under-construction and proposed pipeline in the area.
Elsewhere in south Miami-Dade, the firm plans a complex with 190 townhomes and 57 single-family homes on the southwest corner of Southwest 344th Street and 193rd Avenue. The site is in an unincorporated area of the county.
Developers have rushed to south Miami-Dade over the past half-decade in a bid to scoop up and build on one of the area’s many vacant lots. The flurry of project proposals is partly rooted in the influx of out-of-staters to South Florida, which supercharged the tri-county region’s housing market and created high demand for homes.
Also in Florida City, Lennar plans a 521-unit townhome complex on the southwest corner of Southwest 167th Avenue and Southwest 344th Street. Garrett Development, a land bank for Lennar, paid $20.4 million for the 37.8-acre development site last year.
In April, Boston-based Freehold Capital Management bought the 50-acre land assemblage on the southeast corner of Southwest 344th Street and Southwest 199th Avenue near Florida City for $31.6 million. The site was previously planned for a 309-unit rental townhome project.
Read more
Residential
South Florida
Home builder DR Horton adds to its growing presence in South Dade
Residential
South Florida
Homebuilder DR Horton pays $12M for 25 acres in Florida City
South Dade boom: D.R. Horton wants to build townhouses in Homestead, another developer proposes apartments in Naranja
