Hole in one: Toll Brothers buys 23 acres of Century Golf Course in Deerfield Beach

The city approved 201 townhomes to be built on the site

Miami /
Apr.April 12, 2019 05:30 PM

Douglas C. Yearley, Jr. and Century Golf Course

UPDATED, April 22, 9:57 a.m.: Toll Brothers bought part of the Century Golf Course in Deerfield Beach for $9.4 million, signaling the growing trend of homebuilders buying greens and fairways.

The Horsham, Pennsylvania-based luxury homebuilder bought 22.8 acres of an 83-acre golf course at 450 Century Boulevard for about $412,000 per acre, records show. Toll Brothers purchased the property from Fairway Investors, which is managed by investor Randall Bast.

Toll Brothers won approval from Deerfield Beach to build 201 townhomes on the property in 2017. The other 60 acres would become a park at the Century Village retirement community.

Fairway Investors paid $2.9 million for the site in 2006, records show.

Homebuilders are increasingly buying golf courses around South Florida as land becomes more scarce.

Miami-based Lennar Corp. broke ground in November on its Veleiros at Crystal Lake, the first new master-planned community in Deerfield Beach in more than 25 years. The site was also previously a golf course.

Correction: An earlier version of this story misspelled Randall Bast’s name. 


Related Articles

arrow_forward_ios
From left: Sotheby’s Daniel de la Vega and Reagan Jefferies with Brevard County
One Sotheby’s picks up Brevard County brokerage
One Sotheby’s picks up Brevard County brokerage
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
Netscape co-founder Jim Clark and 2000 South Ocean Boulevard in Manalapan (Getty, Sotheby's)
Manalapan compound poised to sell for Florida-record $175M
Manalapan compound poised to sell for Florida-record $175M
Barron Real Estate principal Charles Ladd with JBL Asset Management Managing Partner Jacob Khotoveli and Plantation Marketplace at 7023 West Broward Boulevard in Plantation and Rivertowne Square at 1015 South Federal Highway in Deerfield Beach (Google Maps, LinkedIn, JLL)
Grocery store-anchored shopping center sales ignite South Florida’s retail market
Grocery store-anchored shopping center sales ignite South Florida’s retail market
Cabot Properties' Franz Colloredo-Mansfeld with Miramar Centre Business Park (Cabot, iStock) Lease, Logistics
Lease roundup: Ryder Logistics leases 150K sf at Miramar Centre Business Park
Lease roundup: Ryder Logistics leases 150K sf at Miramar Centre Business Park
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
(ONE Sotheby's Realty)
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
arrow_forward_ios

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

Loading...