13th Floor buys former golf course in Delray Beach for 55-plus community

Prices will range from $300k to $500k

TRD MIAMI /
Jun.June 18, 2018 03:34 PM

Rendering of development, Mike Nunziata

13th Floor Homes closed on a 110-acre development site in west Delray Beach where it’s planning to build a 55-plus living community.

The Miami-based home builder paid $5.4 million for the property at 4800 Cumberland Drive, which will become Avalon Trails, an age-restricted development with 521 single-family homes, villas and apartments, according to a press release.

Marina Lakes LLC, tied to Peter Vitale, sold the site to 13th Floor for about $49,000 per acre. Marina Lakes paid $2.2 million for the property, formerly an 18-hole golf course, in 2005.

13th Floor will break ground and launch sales of Avalon Trails later this year. Prices will range from the 300,000s to $500,000s. The site plan restricts home building to about half of the property’s developable land, instead allowing for more green space and community improvements.

Amenities will include a clubhouse with pools, card rooms, exercise equipment, business centers and billiards areas; tennis and pickleball courts, bocce ball, and more than two miles of landscaped walkways and trails, lakefront park areas and community security, according to the release.

Residents of the Villages of Oriole, an adjacent senior living community, gave the Avalon Trails project a 95 percent approval rating in February 2017, allowing 13th Floor to proceed with the community.

A number of developers are picking up golf courses to convert them into single-family home communities, including Lennar Corp. and Pulte Group.

Avalon Trails marks 13th Floor’s fourth golf course redevelopment with more in the approval process. The company recently completed three in Tamarac: Central Parc, a 253-single-family home community, Manor Parc, a community of 239 single-family homes, and Hidden Trails with 214 homes. – Keith Larsen


Related Articles

arrow_forward_ios
Rendering of Ocean Delray

Ocean Delray nabs $73M construction loan

Photo illustration of Grant Cardone (Credit: iStock)

A look at Grant Cardone’s real estate portfolio and how he raised $15M in 90 minutes at Marlins Park

ABC Carpet & Home

Collier family converting former ABC Carpet & Home in Delray to facility for car collectors

From left: Joseph Maas, Susan Burrell and Paul Burrell of TMT Properties and 190 Congress Park Drive (Credit: Google Maps)

TMT Properties buys Delray Beach offices

Atlantic Crossing and Pearlmark's Mark Whitt

Delray Beach’s Atlantic Crossing snags $45M investment

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Midtown Delray Beach rendering

Pebb Capital to buy Midtown Delray site for $40M after original owners end dispute

arrow_forward_ios