PulteGroup, one of the nation’s largest homebuilders, bought 80 lots at Avenir in Palm Beach Gardens.
Records show Atlanta-based PulteGroup, through its subsidiary DiVosta Homes L.P., paid $8 million for the portfolio of home sites. The seller is Avenir Development LLC, the developer of Avenir, a master-planned community with single-family houses from multiple homebuilders, including Toll Brothers and Akel Homes.
Avenir also includes Panther National, a Jack Nicklaus-designed residential golf community, which received $170 million in financing in May from Centaury Holdings.
PulteGroup’s latest acquisition equates to $100,000 per lot.
This will be the second Avenir development for PulteGroup, which last year bought 98 lots for $13.7 million and built Avondale at Avenir, a single-family home development. The builder launched sales for Avondale this summer, with 390 homes ranging from two- to five-bedrooms, and floor plans spanning 2,269 square feet to 3,247 square feet. Prices start at $693,000 and top out at $1 million for the largest floor plans.
PulteGroup did not immediately respond to requests for comment on its latest purchase.
Avenir is among the largest master-planned community developments in South Florida. The site spans 4,800 acres, and includes approval for 3,900 residential units, primarily single-family homes, a 300-key hotel, 200,000 square feet for medical offices, and 400,000 square feet for retail. The development also includes 1.8 million planned square feet of office space, as well as a 2,400-acre nature preserve.
PulteGroup recently dropped $6.9 million on a 6.7-acre development site in Plantation, with plans to build an 86-unit townhouse project called Emory. The townhomes will likely hit the market early next year, starting at $400,000.