Lennar Corp. Acquires Major Development Sites in Homestead

News Summary

Lennar Corp. is making significant investments in Homestead and Florida City by acquiring three major development sites for $24.78 million. The deal involves partnerships with Century Homebuilders and is set to boost housing options in the area, including townhouses and single-family homes. The demand for housing is increasing, with additional sites being developed to meet the needs of the growing community. This expansion reflects Lennar’s commitment to contributing to the local housing market and providing more choices for potential homebuyers.

Exciting Developments in Homestead, Florida!

Great news for residents and potential homebuyers in Homestead and Florida City! A major player in the real estate market, Lennar Corp., is making big moves by acquiring three major development sites for a whopping $24.78 million. This deal happened with Century Homebuilders, who has been an active participant in the local real estate scene.

What’s the Scoop on These Properties?

The properties are now under the management of TPG AG EHC III (LEN) Multi State 5 LLC, a subsidiary of Essential Housing. While Lennar will be getting the keys to these sites once the homes are ready, Century Homebuilders will still get a nice bonus, receiving extra payments for each home they sell from these properties. Sounds like a win-win situation!

More Than Just a Move

Lennar’s expansion in this region isn’t just limited to the three new properties. Recently, Century Parc Villas East LLC unloaded an 8.5-acre site for $11.33 million, previously bought for just $5.5 million in 2021. That site is set to house 117 townhouses, offering even more housing options.

Additionally, there’s a developing area known as Century Grove Estates where a 9.4-acre plot was sold for $7 million. Interestingly enough, this plot was purchased for $5.5 million back in 2024 and is lined up for 54 stunning single-family homes. With these sorts of developments popping up, it’s clear that the demand for housing is on the rise in the area.

Developing Opportunities

Century Homebuilders didn’t stop there! They also managed to sell a 6.8-acre site for $6.45 million, an impressive increase from its previous sale of $2 million in 2022. This site is also set for another 54 single-family homes. Tatiana Pino, the current CEO of Century Homebuilders, has taken the reins after the passing of founder Sergio Pino last July, ensuring that the company continues to thrive.

A Continuous Expansion

Lennar isn’t a stranger to acquiring properties with big potential. Earlier this year, they snagged a 59-acre site approved for 296 townhouse units in Homestead for $28 million. This exciting new development, known as Palm Cove Reserve, features units ranging from 1,400 to 1,700 square feet, perfect for families looking for three- or four-bedroom layouts.

And if that wasn’t enough, Lennar is also eyeing another 19 acres in Princeton for a charming 280-unit townhome community. Plus, in March, they made a move for a site bought for $19.6 million to serve as a land bank, which just emphasizes their focus on securing future developments.

Building for the Future

From a stunning 104.3-acre golf course near Aventura bought for $17.5 million to future plans for 521 townhouses on a 37.8-acre site in Florida City, Lennar is certainly on the move. The plans continue with another project for 119 single-family homes on a lovely 58-acre site in Homestead with designs for both single-story and two-story homes.

The Market’s Not Slowing Down!

With Miami-Dade County offering developers a more affordable land landscape compared to prime locations closer to downtown, it’s no surprise that residential developments are popping up left and right. Besides Lennar, big names like D.R. Horton are also entering the fray, aiming to provide a mix of luxury housing and affordable rentals to meet the growing demand for homes in this vibrant region.

It’s a thrilling time for the Homestead community as new housing developments continue to sprout. It looks like both residents and future buyers will have plenty to look forward to in the coming years!

Deeper Dive: News & Info About This Topic

• The Real Deal: Lennar Scoops Up Homestead Development Site for $28 Million
• Wikipedia: Homestead, Florida
• The Real Deal: Lennar Drops $17M on 38-Acre Homestead Dev Site
• Google Search: Lennar Corporation
• The Real Deal: Lennar Proposes 119 Single-Family Homes in Homestead
• Encyclopedia Britannica: Real Estate
• Miami Herald: Real Estate News
• Google News: Homestead Florida real estate