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More housing coming to Avenir: GL buys 225 homesites for $24M
Palm Beach Gardens master-planned community spans 4,800 acres, 3,900 residential units
GL Homes bought 225 homesites for $23.5 million at Palm Beach Gardens’ master-planned community Avenir.
An affiliate of the homebuilder bought the sites at the 4,800-acre Avenir from its namesake development entity, an affiliate of master developer Landstar Development Group, records show. Based in Coral Gables, Landstar is led by principals Rudy Stern, David Serviansky, Roberto Horwitz, Eduardo Stern, Bernard Eckstein and Rosa Eckstein Schechter, and CFO Virginia Cepero.
The price equates to about $104,000 per homesite. GL also acquired 337 sites for $35.3 million in 2022, in a deal that worked out to about $105,000 per site.
The latest sites are part of its planned Apex at Avenir development, its website shows. The project will have single-family homes ranging from 1,905 square feet to 5,260 square feet, with prices between $900,000 and $1.6 million.
Sunrise-based GL, led by President Misha Ezratti, is among the laundry list of developers with Avenir projects in the works. PulteGroup, Kenco Communities, Kolter Group, Toll Brothers and K. Hovnanian all have planned residential developments at Avenir.
The community is slated for a total of 3,900 residential units, mostly single-family homes; 400,000 square feet of retail; 200,000 square feet of medical offices; a 16,000-square-foot clubhouse; a charter school; a Par 3 golf course and a 2,400-acre nature reserve.
It also includes a gated luxury golf community, Panther National. Developer Centaur Holdings landed $170 million in financing for the project in 2022. The Jack Nicklaus-designed golf course is already completed, and construction of the homes has begun.