Lennar spends $29M on Homestead mobile home park, plans new community

Property totals more than 40 acres

Lennar's Stuart Miller and 28600 Southwest 132nd Avenue (Google Maps)
Lennar's Stuart Miller and 28600 Southwest 132nd Avenue (Google Maps)

Lennar Homes purchased a former mobile home park in Homestead for $29 million, with plans to build a new housing community.

Property records show Lennar Homes LLC bought two parcels totaling more than 40 acres at 28600 Southwest 132nd Avenue. The seller is Mac Thirteen LLC, a Florida company linked to the Treo Group.

Treo bought the land in November 2018 for $13 million, records show. The property was formerly the Pine Isle Mobile Home Community, a 55-and-older mobile home park. In March 2019, Treo informed residents that they needed to relocate.

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Miami-based Lennar Homes has already put in its plans for redevelopment. On its website, a community named Pine Vista has already begun selling units.

According to the website, Pine Vista will have single-family homes and townhomes, starting in the mid-$200,000s. The community will also feature a clubhouse, a pool and a park.

Lennar has continued to be active this year, buying land all over South Florida. Last month, Lennar purchased land in western Palm Beach County for $13.7 million to develop a community. The homebuilder spent another $27.6 million for a development site on a former golf course in Delray Beach.

The Treo Group also has its hands in projects in South Florida. The Miami-based development firm is developing a mixed-use project in Coconut Grove called Regatta Harbour. Treo also secured a $33.25 million construction loan earlier this year for a mixed-use student housing project in South Miami.

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