Lennar plans 521 townhouses in Florida City 

Homebuilder’s land bank buys 38-acre site for $20.4M

Lennar Plans 521 Townhouses in Florida City
Lennar's Stuart Miller and Jon Jaffe with 37.8-acre development site (Lennar, Getty)

Lennar wants to develop a 521-unit townhouse project in Florida City, marking the firm’s continued bet on south Miami-Dade County. 

The Miami-based homebuilder’s land bank, Scottsdale, Arizona-based Garrett Development Corporation, bought the 37.8-acre development site for $20.4 million from an entity led by Elizabeth Worley, Thomas Blakley and Bryan St. Germain, according to records and real estate database Vizzda. The deal breaks down to $539,540 per acre. 

Lennar signed a purchase option agreement with Garrett Development to buy and develop the site, records show. 

Sign Up for the undefined Newsletter

Led by co-CEOs Jon Jaffe and Stuart Miller, Lennar has been making hefty investments in Florida City, as well as surrounding neighborhoods. South Miami-Dade has an ample supply of developable land that comes at a discount compared with the county’s urban core. 

Also in Florida City, Lennar dropped $18 million for nearly 11 acres at 75 West Palm Drive in December. Records show the homebuilder plans a 174-unit townhouse development called Ocean Gate Village. 

The purchase came on the heels of Lennar paying $7 million for 231 homesites on a 40-acre site between Southwest 336th Street and Southwest 340th Street in unincorporated south Miami-Dade.