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Pulte pays $22M for dev site near Lake Worth Beach
Developer acquired 36.5 acres slated for 108 single-family homes
PulteGroup is planning 108 single-family homes after purchasing 36.5 acres near Lake Worth Beach for $22 million.
Atlanta-based PulteGroup, led by CEO Ryan Marshall, acquired the development site at 9584 Lake Worth Road in unincorporated Palm Beach County, a press release states.
The national homebuilder’s Divosta Homes division is planning Antica, a new residential community with houses starting in the $700,000 range.
Sellers Charlotte and C.W. Hendrix paid $1.6 million for the former agricultural land in 1998, records show.
DiVosta Homes is PulteGroup’s luxury brand that features one-story and two-story modern home designs. Palm Beach County approved Antica shortly after PulteGroup submitted a site plan in 2022, records show.
In March, PulteGroup paid $20.5 million for a former nursery site in Davie. The firm plans to build Marigold, a community of 60 single-family homes on 31 acres. The planned homes will have contemporary farmhouse architecture and views of a lake. Prices start above $1 million.
PulteGroup is bullish on Lake Worth Beach, acquiring three sites since October, including its most recent purchase.
In December, PulteGroup acquired 43.6 acres near Lake Worth Beach where the company plans to build another DiVosta community. PulteGroup paid $30.3 million for the site, which will be developed into Greyhawk, a community of 131 single-family homes.
Two months earlier, PulteGroup picked up 27 acres in Lake Worth Beach for $21.1 million. The homebuilder is planning Everton, a 210-townhome project with units priced in the $400,000s and $500,000s.
PulteGroup is the third largest homebuilder in the U.S., having built more than 750,000 homes in 40 cities since the company was founded in 1950, the firm’s website states.
Other homebuilders targeting Lake Worth Beach include Toronto-based Mattamy Homes. The firm, Canada’s largest homebuilder, is planning Forest Oaks, a residential community of 350 townhomes and 100 single-family homes. Mattamy Homes paid $10 million for the 115-acre site in December.