The Real Deal Miami

Lennar buys townhome project in Fort Lauderdale

Site was a former mobile home park
By Amanda Rabines | December 11, 2017 08:45AM

Rendering of the Reserve at Edgewood and Lennar’s Stuart Miller (Credit: Reserve At Edgewood and Lennar Corporation)

Lennar Corp. just paid $7.5 million for a townhouse development project in Fort Lauderdale, property records show.

Lennar acquired the 105-unit, 7-acre site at 2807 Southwest 15th Avenue, a former mobile home park. The seller, EW Townhouses LLC, is an affiliate of Brick O. Real Estate, led by founder Daniel Avakian. Records show Avakian bought the land in 2014 for $4.1 million and started construction last year, according to a notice of commencement filed with Broward County.

The Reserve at Edgewood has two-story townhomes that range in size from 1,100 square feet to 1,400 square feet. Prices begin in the low $300,000s, according to its website.

Features of the two- and three-bedroom townhomes include garages, private terraces and granite countertops. Amenities include a clubhouse, fitness center, heated swimming pool, children’s playground and a dog park.

The Miami-based developer recently won approval to deliver a 271-unit luxury apartment building in Plantation’s Midtown District.

In October, Lennar announced it will merge with CalAtlantic Group, creating the largest homebuilder in the country in a $5.7 billion deal that’s expected to close next year.