Lennar buys 309 townhome sites in Palm Beach County

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

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

Stuart Miller, Wynwood Green

Lennar scores $45M construction loan for Wynwood apartment project

(Credit: iStock)

South Florida residential construction starts jump 72% in January

D.R. Horton CEO David Auld with a photo of a D.R. Horton multifamily home and rendering of the Arden planned community 

D.R. Horton to build homes in western Palm Beach County

Brent Baker and a Pulte single-family home

PulteGroup nabs 20 acres in Lauderdale Lakes for new home community

Centerline Capital Advisors President Craig Perry and 17101 Southwest 200th Street (Credit: Google Maps)

Centerline snags 90-acre dev site in south Miami-Dade

A rendering of Via Ventura and Stuart Miller (Credit: Lennar)

Lennar sells off part of its Via Ventura community

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

4001 Seminole Pratt Whitney (Credit: iStock)

Minto sells 35 acres of Westlake project