The Real Deal Miami

GL Homes to pay $17M for Lake Worth golf course

The builder's plans at Fountains Country Club include its first multifamily project
June 04, 2016 11:15AM

Fountains Country Club in Lake Worth

Fountains Country Club in Lake Worth

Sunrise-based GL Homes has a deal to pay $17 million for a golf course at Fountains Country Club in Lake Worth.

GL Homes would build as many as 200 single-family homes priced from $400,000 to $600,000 there, plus 250 to 300 rental apartments — the builder’s first multifamily project.

Fountains Country Club is an 865-acre property bordered on the south by Lantana Road and on the north by Lake Worth Road. The 1970s-era development has three golf courses and 1,763 homes, a mix of houses, villas, townhouses and condos.

The club’s board wants to close one of three golf courses to reduce expenses and offset the impact of declining club membership, part of a broader decline in the popularity of golf.

GL Homes just reached an agreement with the club’s board to buy two parcels on the north golf course totaling 40 to 44 acres. [Sun-Sentinel] — Mike Seemuth