Lennar doubles down on Homestead with $23M development site purchase
25-acre property approved for 250 townhouses
Lennar is doubling down on its homebuilding bet in Homestead with a $22.5 million purchase, five months after it bought another site in the city.
Miami-based Lennar bought 25.3 acres on the northeast corner of the Florida Turnpike Extension and Southwest 336th Street from an entity tied to Miami-Dade County homebuilder Pedro Adrian, of Adrian Homes, according to records.
Adrian’s affiliate obtained approval in 2021 for a 250-townhouse project in two-story buildings with a clubhouse, pool and playground, city records show.
The deal comes on the heels of Lennar paying $7.1 million for another 27 acres, also sold by Adrian’s affiliate, bounded by Old Dixie Highway, Southwest 264th Street and Southwest 272nd Street.
Lennar, one of the biggest homebuilders in the U.S., is led by Executive Chairman Stuart Miller, and co-CEOs Rick Beckwitt and Jon Jaffe.
This month, the company also bought a portion of a closed, 119-acre Delray Beach golf course for $19.2 million from 13th Floor Homes, which had obtained approvals for an age-restricted community with 251 townhouses and 164 single-family homes.