Lennar sold part of its property in the Via Ventura community near Aventura for $9.1 million.
The Miami-based homebuilder sold a lake in the community it is developing at 20890 San Simeon Way to the San Simeon Community District. The district is designed to provide financing for community infrastructure, facilities and services. A community development district is a special purpose government agency in Florida, used as a mechanism to allow developers to pay and finance costs for home communities.
In this case, the San Simeon Community District will finance the stormwater management system, water distribution system, wastewater collection system, park improvements and roadway improvements, according to county documents. It will also manage the community.
Via Ventura is a 181-acre residential development that will have 55 single-family homes, 393 townhomes and 254 villas. Lennar purchased the site in $40 million in October 2017, records show. Prices for single-family homes at Via Ventura start at $427,000.
Among homebuilders, Lennar is one of the most aggressive land buyers. Historically, the strategy has paid off and has led to Lennar emerging as the country’s largest homebuilder, thanks to its reasonably priced single-family homes.
Recently, a number of indicators, however, show that the housing market is slowing down.