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The Real Deal Miami

Pulte buys 69-acre site in Lake Worth

Land adds to 160 acres the home builder bought two years ago
By Amanda Rabines | May 03, 2018 10:30AM

Gulfstream Polo Club, a rendering of The Fields clubhouse and Pulte’s Brent Baker

Pulte Homes picked up 69 acres of land near the former Gulfstream Polo Club in Lake Worth, adding to the 160 acres it purchased two years ago.

The $18.7 million deal includes surrounding privately owned horse farms near the intersection of Lake Worth Road and the Florida Turnpike. The land is part of the second phase of Pulte’s 920-home development called The Fields.

Phase two calls for single-family homes priced starting in the upper $300,000s and townhomes starting in the lower $300,000s. Construction will begin in 2019, Pulte division president Brent Baker said.

In 2016, Pulte paid $49 million for the roughly 160-acre former Gulfstream Polo Club. Together with this latest deal, the home builder spent $68 million on 230 acres in Lake Worth.

Atlantic Western Realty Corp. represented the sellers, most of whom hired the brokerage to list their properties in 2004. Atlantic Western also has about 70 acres of land under contract to sell to an undisclosed North American home builder.

Lennar Homes is also active in Lake Worth.