Ansca Homes family members settle litigation, launch Akel Homes

Firm is close to breaking ground on first resi community in Palm Beach County

TRD MIAMI /
Mar.March 09, 2018 01:30 PM

Ramsey and Alexander Akel (Credit: Akel Homes, Pexels)

After settling contentious litigation among family members, Ramsey Akel has launched a new Delray Beach-based private real estate firm, Akel Homes, with his son Alex.

The new firm is based at a 2,000-square-foot space in the BankUnited Building at 5300 West Atlantic Avenue.

Ramsey Akel was formerly part of the Boynton Beach-based homebuilder Ansca Homes, along with his father-in-law and brother-in-law. The Akel family had overseen the acquisition, construction and sales of more than 4,000 homes in South Florida since 1986. But after Ramsey Akel’s father-in-law retired in 2008, the brothers-in-law disputed the direction of the company, resulting in litigation.

In 2017, Ramsey Akel settled the legal battle, according to a spokesperson. “All parties involved were able to positively resolve all of their disputes,” the spokesperson said via email.

Now the father-son duo is close to breaking ground on Villamar at Toscana Isles, Akel Homes’ first single-family community in Palm Beach County, Alex Akel said.

The community will feature 208 one- and two-story homes with lakes views, ranging in size from 1,800 square feet to 3,000 square feet. Prices have not yet been determined, but sales are set to launch within the next three months and will be handled in-house, Alex Akel said.

Akel Homes also recently bought a 12-acre site on the southeast corner of Hypoluxo Road and Lyons Road, which is in the permitting process.

The company currently has six employees and plans to add more in the near future. Akel said the firm will focus on single-family home communities, townhome and multifamily communities as well as boutique condo buildings.

“It’s tough out there,” Alex Akel said, citing rising construction costs and lack of developable land, “but we’re up for the challenge.”


Related Articles

arrow_forward_ios
Cortland Partners CEO Steven DeFrancis and Depot Station apartment complex in Delray Beach (Google Maps)

Cortland pays $74M for Depot Station apartments in Delray Beach

Cortland pays $74M for Depot Station apartments in Delray Beach
Dr. Walter Okoroanyanwu, Angelo Bianco and Jim Carr 

Doctor’s orders: developers increasingly tap medical experts, amenities

Doctor’s orders: developers increasingly tap medical experts, amenities
Palm Beach County property appraiser tests positive for coronavirus

Palm Beach County property appraiser tests positive for coronavirus

Palm Beach County property appraiser tests positive for coronavirus
Rendering of Echelon in Delray Beach

Developer plans boutique oceanfront condo project in Delray Beach

Developer plans boutique oceanfront condo project in Delray Beach
3200 South Federal Drive Delray Beach, Oak Street Real Estate Capital’s Jim Hennessy (Credit: Google Maps and LinkedIn)

Private equity firm sells Walgreens in Delray Beach for $8M

Private equity firm sells Walgreens in Delray Beach for $8M
GL Homes President Misha Ezratti (Credit: LILA PHOTO via GL Homes)

GL Homes offers $22M for development rights in Agricultural Reserve

GL Homes offers $22M for development rights in Agricultural Reserve
Stephen Gravett, CEO of Kennedy Homes and a rendering of Trevi Isle home community

Kennedy Homes sells Palm Beach Gardens community amid allegations of mismanagement

Kennedy Homes sells Palm Beach Gardens community amid allegations of mismanagement
Florida Allowing Gyms, Beaches To Reopen in Palm Beach

Florida governor to allow gyms and beaches to reopen in Palm Beach County on Monday

Florida governor to allow gyms and beaches to reopen in Palm Beach County on Monday
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...