National homebuilder PulteGroup purchased 31 acres of land in Palm Beach County, with plans to build a housing community.
Pulte paid $9 million for land in the Palm Beach Farms area, from the William A. Mazzoni Trust, The Real Deal has learned. Records show Mazzoni has owned the land at 5024 South State Road 7 in Lake Worth since 1993, when he bought it for $450,000.
F. Thomas Godart, managing director of Godart Florida Real Estate Investments, represented Pulte in the deal.
Pulte plans to build Windsong Estates with 100 residential units, including 32 single-family homes, 61 zero-lot-line units and seven townhomes.
The homes will range in size from 1,800 square feet to 2,800 square feet and will be priced starting in the high $400s into the $600s, according to Pulte Group’s Southeast Florida President Brent Baker.
“The pandemic is driving more people to buy single-family homes in less urbanized areas, and we fully expect that trend to continue for the foreseeable future,” Baker said in a statement.
Pulte expects development to start as soon as this month, with model homes built by the spring, according to Baker. He also anticipates sales to begin in the summer of 2021.
PulteGroup is an active homebuilder in South Florida. At the beginning of this year, Pulte paid $1.72 million for 20 acres in Lauderdale Lakes for a new housing community. Last year, Pulte Homes closed on 139 acres in Oakland Park for $31 million.