Lennar buys 309 townhome sites in Palm Beach County

The sites are part of the 69-acre Arbor Parc community in Riviera Beach

TRD MIAMI /
May.May 24, 2019 08:45 AM
Arbor Parc and BTI Partners CEO Noah Breakstone

Arbor Parc and BTI Partners CEO Noah Breakstone

Lennar Corp. purchased 309 townhome sites for $19.2 million as the homebuilder continues its buying spree in South Florida.

The Miami-based homebuilder purchased the lots at the 69-acre Arbor Parc community in Riviera Beach from BTI Partners. The property is located at 4046 Woods Edge Circle near Palm Beach Gardens. The rest of the 500-home community is owned by 13th Floor Homes.

Arbor Parc sits on a 10-acre lake, with three acres of green space and a mile-and-a-half of bicycle paths. Currently, 125 homes and townhomes have been sold or are under contract, according to a release.

Lennar’s three- and four-bedroom townhomes will range from 1,558 square feet to 2,086 square feet. Prices start in the mid $200,000’s.

In South Florida, demand is growing for entry-level home communities like Arbor Parc, due to rising home prices in Miami and Fort Lauderdale.

Fort Lauderdale-based BTI Partners has been active in Florida. BTI is currently building the Westshore Marina District, the second largest mixed-use community under construction in Tampa. The company is also currently acquiring more than 1,400 acres in Orlando, where it plans to partner with national homebuilders to develop a large residential community.

Lennar is one of the most aggressive land purchasers in South Florida. In February, Lennar paid $5 million to buy 40 lots in the Arden master-planned community in western Palm Beach County.


Related Articles

arrow_forward_ios
Stuart Miller of Lennar & a map of Arden community

Lennar pays $14M for land at Arden

Lennar pays $14M for land at Arden
Stuart Miller & Mike Nunziata, with a rendering of Avalon Trials (Credit: Lennar Homes)

Lennar spends $28M for lots on former golf course in Delray Beach

Lennar spends $28M for lots on former golf course in Delray Beach
Mark Pulte & 701 South Ocean Boulevard, Delray Beach (Credit: Google Maps)

Mark Pulte’s homebuilding firm buys Delray Beach oceanfront lot for $11M

Mark Pulte’s homebuilding firm buys Delray Beach oceanfront lot for $11M
Stuart Miller, Ken Griffin and 11 and 12 Star Island Drive (Credit: Google Maps)

Billionaire hedge funder Ken Griffin pays $37M for Star Island property

Billionaire hedge funder Ken Griffin pays $37M for Star Island property
Lennar's Stuart Miller

Homestead homeowners association sues Lennar, alleges shoddy construction

Homestead homeowners association sues Lennar, alleges shoddy construction
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
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
arrow_forward_ios

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

Loading...