Lennar spends $29M on Homestead mobile home park, plans new community

Property totals more than 40 acresMiami /November 24, 2020 05:30 PMBy Jordan Pandy
Lennar's Stuart Miller and 28600 Southwest 132nd Avenue (Google Maps)

Lennar’s Stuart Miller and 28600 Southwest 132nd Avenue (Google Maps)

Lennar Homes purchased a former mobile home park in Homestead for $29 million, with plans to build a new housing community.

Property records show Lennar Homes LLC bought two parcels totaling more than 40 acres at 28600 Southwest 132nd Avenue. The seller is Mac Thirteen LLC, a Florida company linked to the Treo Group.

Treo bought the land in November 2018 for $13 million, records show. The property was formerly the Pine Isle Mobile Home Community, a 55-and-older mobile home park. In March 2019, Treo informed residents that they needed to relocate.

Miami-based Lennar Homes has already put in its plans for redevelopment. On its website, a community named Pine Vista has already begun selling units.

According to the website, Pine Vista will have single-family homes and townhomes, starting in the mid-$200,000s. The community will also feature a clubhouse, a pool and a park.

Lennar has continued to be active this year, buying land all over South Florida. Last month, Lennar purchased land in western Palm Beach County for $13.7 million to develop a community. The homebuilder spent another $27.6 million for a development site on a former golf course in Delray Beach.

The Treo Group also has its hands in projects in South Florida. The Miami-based development firm is developing a mixed-use project in Coconut Grove called Regatta Harbour. Treo also secured a $33.25 million construction loan earlier this year for a mixed-use student housing project in South Miami.

https://therealdeal.com/miami/2020/11/24/lennar-spends-29m-on-homestead-mobile-home-park-plans-new-community/

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