Lennar buys 7-acre development site in Tamarac

Lennar bought it for $2.9M

Mar.March 10, 2015 11:15 AM

An affiliate of Lennar Corp., the country’s largest homebuilder, just purchased 7.3-acres of land in Tamarac that is zoned for townhomes.

Miami-based Lennar Homes paid $2.9 million for the land, which was sold by Sunrise-based Perry Ventures. Located at 5931 West Commercial Boulevard, the property is zoned for up to 68 townhomes and is vacant except for a tennis court.

Peter Mekras, senior vice president of real estate firm CREC, represented both parties in the sale. Mekras also represented Perry when it first bought the property for just under $1 million in late 2013.

Aventura-based developer Woodlands THJV announced plans to build a townhome community dubbed Chelsea Place on the lot in December, but those plans apparently fell through.

“Homebuilder lot inventory in the Broward County market has evaporated as demand for new homes far exceeds deliveries,” Mekras said in a statement. “Large tracts of land that can be entitled for the homes that the masses can afford no longer exist in South Florida.  A national homebuilder buying a site for only 68 homes is indicative of that trend.” — Sean Stewart-Muniz


Related Articles

A rendering of Via Ventura and Stuart Miller (Credit: Lennar)

Lennar sells off part of its Via Ventura community

Spectra at Tamarac at 8650 Northwest 61st Street and Mark Zolty

Canadian investment firm buys Tamarac apartments for $47M

Arden home community and Stuart Miller

Lennar picks up 50 lots in western Palm Beach County

Lennar's Stuart Miller and a rendering of a Sierra Ranch home

Lennar closes on 89-acre Davie site for single-family home community

Daily Digest Miami

Here are the homes of Miami Heat’s elite, developer Steve Witkoff revealed as buyer of Sunset Islands home: Daily digest

Lennar at Sorrento at Venetian Parc clubhouse, Lennar Vice Chairman Stuart Miller

HOA buys clubhouse in southwest Miami-Dade from Lennar

From left: Alejandro Arias, Keren Marti, Avra Jain, Carolina Herrera, Luis Gonzalez, and Melissa Rose (Credit: Brett Hufziger Photography, Google Maps)

New frontier? Developers look to Hialeah

Stuart Miller and Southwest 152nd Avenue in Homestead

Lennar picks up land assemblage in Homestead