Lennar buys Miami-Dade development site for $15M
County approved lot for 15 single-family homes last year
Lennar Homes bought a development site in Miami-Dade County for $15 million, with plans to build single-family homes.
Records show the Miami-based homebuilder, an affiliate of Lennar Corp., bought the site at 9177 Southwest 112 Street from an entity tied to another Miami homebuilder, GC3 Group, managed by Michael Garcia Carrillo. Garcia Carrillo is CEO of GC3 Group, his LinkedIn shows.
Records show GC3 Group received Miami-Dade approval last year for a 15-home development on the site, to be dubbed Brown Oak Estates. Garcia Carrillo also established the vacant site as a special taxing district for lighting, water and sewage infrastructure, records show.
GC3 Group bought the 8.7-acre property for $5.3 million in 2021, records show. The firm specializes in small, luxury single-family home communities, and has built more than 1,000 homes in the Miami area since its founding, according to its website.
Lennar’s price equates to about $1 million per planned lot, with about half an acre per planned home.
Lennar already has several planned developments in the works across South Florida. In July, it won rezoning for the site of its Enclave at Plantation project, a 40-home development on property it’s buying from the Broward County School Board.
In May, Lennar proposed a 1,335-home development in Homestead with an accompanying golf course, on a 350-acre site in Key’s Gate.
The builder dropped $24.5 million on another firm’s development site in Pinecrest in March, buying 10 acres approved for 34 townhouses and 20 single-family homes.