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Pulte pays $31M for Oakland Park golf course
Pulte has been trying to redevelop the site for years
UPDATED, Oct. 2, 4:30 p.m.: Pulte Homes closed on 139 acres in Oakland Park to build over 400 homes, property records show.
The Atlanta-based homebuilder paid $31 million for the former Oak Tree Golf Course on land bordered by Prospect Avenue, Northwest 21st Avenue and Northwest 44th Street. Blackwood Partners and Blackshore Partners sold the golf course to Pulte and provided $29.25 million in seller financing.
The golf course, at 2400 Oak Tree Road, has been closed for more than a decade, according to a release. Pulte has been working with the city to develop the site for over three years.
F. Thomas Godart of Godart Florida Real Estate Investments represented Pulte in the deal.
The 405 homes that Pulte plans to build will include 273 single-family houses and 132 townhomes. The Oakland Park community will also have nearly 50 acres of open space with a fitness trail that surrounds the property, and resort-style amenities. Sales are expected to begin next summer.
Homebuilders across the country are buying golf courses as the sport’s popularity has declined and the supply of available land continues to shrink, especially in South Florida.
Pulte’s projects on former South Florida golf course land include 645 homes on 160 acres on the former Hillcrest Golf & Country Club in Tamarac, and 152 homes on nine of Woodmont Country Club’s 18 holes.