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Pulte pays $21M for Davie dev site approved for 60 single-family homes
Atlanta-based developer acquired 31-acre former nursery property
A photo illustration of Pulte CEO Ryan Marshall and an aerial view of the dev site in Davie (Getty, Pulte, Google Maps)
Pulte Homes is planting 60 new single-family homes in Davie, after paying $20.5 million for a former nursery site.
An affiliate of Atlanta-based Pulte acquired the nearly 31-acre property at 8220-8260 Southwest 48th Court and 4891 and 5077 Southwest 82nd Avenue, records and Vizzda show. The deal breaks down to roughly $661,290 an acre, or $341,667 per homesite.
Pulte plans on developing a single-family home community called Marigold, according to the developer’s website. The five dozen planned homes will feature contemporary farmhouse architecture and views of a lake. Prices will start above $1 million, a press release states.
The seller, an affiliate of Coconut Grove-based TM Real Estate Group, paid $4 million for the former Naugle’s Nursery site in 2018, records show. The multifamily developer had previously sought to build a 254-unit apartment project in 2021, but TM Real Estate did not move forward with the plan, city records show.
Led by CEO Ryan Marshall, Pulte is one of the largest homebuilders in the U.S., building single-family houses and townhouses in 45 markets across the nation, the release states.
In December, Pulte paid $30.3 million for 43.6 acres, or $695,300 per acre, in unincorporated Palm Beach County. Through its DiVosta Homes subsidiary, Pulte plans to develop Greyhawk Landing, a community of 131 single-family homes.
In 2022, Pulte also picked up a couple of development sites in Broward and Palm Beach counties. The developer acquired 6.7 acres in Plantation where Pulte is planning Emory, a community of 86 townhomes. TM Real Estate also sold that development site to Pulte for $6.9 million. The property is within Plantation Midtown Square, a 25-acre mixed-use project by TM Real Estate that includes 480 apartments and 21,500 square feet of retail.
The same year, Pulte paid $8 million for 80 lots at Avenir in Palm Beach Gardens, a master-planned community with homes built by multiple developers, including Toll Brothers and Akel Homes.