PulteGroup buys more Avenir home sites in Palm Beach Gardens

Homebuilder launched sales of its first Avenir development, Avondale at Avenir, this summer

PulteGroup’s Brent Baker and the Palm Beach Gardens (Google Maps, Getty)
PulteGroup’s Brent Baker and the Palm Beach Gardens (Google Maps, Getty)

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.

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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.