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

Arden home community and Stuart Miller

Lennar picks up 50 lots in western Palm Beach County

Lennar's Stuart Miller and a rendering of a Sierra Ranch home

Lennar closes on 89-acre Davie site for single-family home community

Daily Digest Miami

Here are the homes of Miami Heat’s elite, developer Steve Witkoff revealed as buyer of Sunset Islands home: Daily digest

Robert Castellano and 150-206 Inlet Way (Credit: Getty Images, Google Maps)

Robert Castellano buys three motels in Palm Beach Shores, plans condo project

Toll Brothers CEO Douglas C. Yearley, Jr. an a rendering of Avenir Community

Homebuilder Toll Brothers adds to portfolio aimed at active adult communities in Palm Beach Gardens

Lennar at Sorrento at Venetian Parc clubhouse, Lennar Vice Chairman Stuart Miller

HOA buys clubhouse in southwest Miami-Dade from Lennar

HS Residential Ernesto Lopes and the Deering Groves,

Brazil’s largest homebuilder seeks to invest $200M in AHS Residential

Donald Horton, chairman of D.R. Horton

Homebuilder DR Horton pays $12M for 25 acres in Florida City