Lennar picks up 50 lots in western Palm Beach County

Arden is a 1,200-acre master-planned community near Loxahatchee

Miami /
Oct.October 10, 2019 12:30 PM
Arden home community and Stuart Miller

Arden home community and Stuart Miller

Lennar Corp. picked up 50 lots in the Arden home community for $6.1 million as the company continues to buy land in western Palm Beach County.

The Miami-based homebuilder bought the lots near Loxahatchee from Highland Dunes Associates, which is managed by Newport Beach, California-based Pacific Investment Management Company.

Arden is a 1,200-acre master-planned community. The development is referred to as an “agrihood” since it also has a 5-acre working farm that will harvest vegetables, herbs and flowers.

In addition to Lennar, three other homebuilders, Ryan Homes, Kenco Communities and Kennedy Homes are constructing homes in the master-planned community. Some homes have already been completed, a spokesperson previously said.

Prices at Lennar’s community within Arden will range from about $436,000 to $498,000 with home sizes between 2,631 square feet to 3,555 square feet.

In May, Lennar, the nation’s largest homebuilder, purchased 40 lots in the community for $5 million.

As land becomes scarce amid growing demand for single-family homes, homebuilders in South Florida are constructing properties further away from the urban core. Loxahatchee is about 30 minutes away from West Palm Beach and 35 minutes from Jupiter.

Nearby, Minto Communities is building a 3,800-acre master-planned community called Westlake with about 4,500 homes.


Related Articles

arrow_forward_ios
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
PulteGroup's Brent Bake a rendering of the site in Avenir
Pulte buys site at Avenir in Palm Beach Gardens, plans 390-home development
Pulte buys site at Avenir in Palm Beach Gardens, plans 390-home development
Frank Mendez with Patricio Cordero (inset) and the property (Linkedin, Google Maps)
Pinecrest homeowners fight lien from celebrity builder they allege was running a kickback scheme
Pinecrest homeowners fight lien from celebrity builder they allege was running a kickback scheme
Donald R. Horton and a map of the development site (D.R. Horton)
D.R. Horton advances 211-unit townhouse project in Pembroke Pines
D.R. Horton advances 211-unit townhouse project in Pembroke Pines
Toll Brothers CEO Doug Yearley Jr. (Toll Brothers)
Toll Brothers launches sales at new luxury community in Davie
Toll Brothers launches sales at new luxury community in Davie
Lennar's Stuart Miller, Rick Beckwitt  with the site (Google Maps; Lennar)
Lennar pays $8M for South Miami-Dade housing community site
Lennar pays $8M for South Miami-Dade housing community site
D.R. Horton CEO David Auld and the Reserve at Jupiter site 
D.R. Horton pays $14M for land in Jupiter and Florida City for two housing projects
D.R. Horton pays $14M for land in Jupiter and Florida City for two housing projects
Jim Carr and Armando Codina with renderings of the homes (CC Homes)
CC Homes pays $12M for Southwest Ranches land for single-family community
CC Homes pays $12M for Southwest Ranches land for single-family community
arrow_forward_ios

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

Loading...