PulteGroup nabs 20 acres in Lauderdale Lakes for new home community

PulteGroup bought 20 acres in Lauderdale Lakes for a new housing community, as homebuilders in South Florida scramble to find land to build new homes.

PulteGroup acquired the property on the corner of Oakland Park Boulevard and Northwest 31st Street for $1.72 million or $86,000 per acre. The new development will be known as Cassia Estates and will have 77 single-family homes with a gated entrance. Sales are expected to start in early 2021, according to a press release. Prices for the new homes have yet to be announced.

Atlanta-based PulteGroup has made a big push in Broward County in recent years by acquiring former golf courses and turning them into home communities. It is building the 645-home Parkview at Hillcrest in Hollywood. The company is also building Enclaves at Woodmont in Tamarac and a new home community on the former Oak Tree Golf Course in Oakland Park. PulteGroup bought 139 acres in Oakland Park last year for the planned 400-home community.

PulteGroup’s South Florida operations are based in Palm Beach Gardens. Its projects include Boca Flores in Boca Raton, The Fields in Lake Worth, Ancient Tree in Palm Beach Gardens, and Sonoma Isles in Jupiter.

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.