The Real Deal Miami

DiVosta Homes spends $48M on 260 acres in Jupiter

Last sold for $6M in 2011

January 30, 2015 09:45AM

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Windsor Park at Abacoa, an existing DiVosta home development in Jupiter

Windsor Park at Abacoa, an existing DiVosta home development in Jupiter

DiVosta Homes invested nearly $48 million for 260 acres of vacant land in Jupiter — reportedly one of the few remaining lots in the area.

The property was sold to DiVosta by Jupiter 19 Park LLC, a Palm Beach Gardens-based company and subsidiary of  homebuilder Pulte Homes, according to Palm Beach County records.

“This is the last parcel of this size available in the Jupiter area and one of the few remaining in all of northern Palm Beach County,” Richard McCormick, president of parent company PulteGroup’s South Florida division, said in a news release. “The town of Jupiter has a great reputation as one of the premier cities to live, work and play in South Florida and we are excited about this new opportunity.”

According to public records, the property last sold for $6 million in 2011 when it was acquired from WCI Communities.

In 2014, Jupiter approved the property for 275 single-family homes, a 14,750-square-foot drugstore and a 5,000-square-foot restaurant. About 15 acres will be used for commercial space, the South Florida Business Journal reported. [South Florida Business Journal]Kristina Puga

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