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Announcement

Golf Course Develoments Are On The Rise

By
Cashflow In Miami
on
January 31, 2021

Golf Course Developments are on the Rise!

8111 Golf Course Road, Boca Raton, FL 33434

GL Homes is bidding on the Boca municipal 190-acre golf course for  $65.75 million !

GL Homes, based in Sunrise and led by Misha Ezratti, received approval in 2018 from Palm Beach County to build more than 550 homes on the site.

The city of Boca Raton had approved the sale of the Boca Raton Municipal Golf Course to GL Homes in 2017.

The commission agreed to the 12th modification to its agreement. The inspection period is now delayed to Feb. 28, 2021, allowing GL Homes to address a lawsuit over a 400-foot communications tower proposed for the site. It also moves the closing date to Oct. 31, 2021.  

Meanwhile, earlier this year GL Homes was the sole bidder for development rights along the Lake Worth Drainage District, which could give the homebuilder the ability to build an additional 313 homes in the Agricultural Reserve.  

Golf Courses are Hot!

Emerald Hills has redevelopment of the golf course and luxury rental residences coming with $100 million revamp! 13th Floor scores approval for 397 single family homes on the golf course!!! 3th floor flips former age restricted golf course they have developed into single family homes to Lennar nationwide home builder!!

4100 N Hills Dr, Hollywood, FL 33021

4600 Woodland Hills Blvd, Tamarac, FL 33319

7472 N. Oriole Blvd, Delray Beach, FL 33446

PPG Development and the investment firm Taillard Capital are spending $100 million to redevelop about 10% of the 167-acre golf course at the Club at Emerald Hills, adding a two-story clubhouse, 416 apartment units, 30 townhomes and 40 golf villas. All will be rentals.  

Both Ari Pearl, principal of PPG Development, and Mickey Taillard, president of Taillard Capital, are Hollywood residents and club members.  

The 50,000-square-foot clubhouse will include a swimming pool, tennis center, banquet facility, restaurant, gym, spa, indoor basketball court, kids club and hammock garden. Bamboo, bronze and coral finishes will meld indoor and outdoor spaces.  

Nicklaus Design would redevelop the course into an 18-hole golf course. Kobi Karp of Kobi Karp Architecture and Interior Design is the project architect.  

Members will be able to use other Jack Nicklaus International Golf Club courses. The club will offer a discounted rate for Hollywood residents, as well as golf, tennis and social memberships.  

13th Floor Homes’ longtime plans to develop a housing community on former golf courses in Tamarac are moving forward.  

Miami-based 13th floor homes first announced the development plans in 2017. The plans have since changed, shaving the number of homes down from 525. The earlier plan stated that the homes would be priced in the $300,000s, have at least 2,000 square feet and include at least three bedrooms.

The plan now includes over 160 acres of preserved open space with new lakes, a five-mile recreation trail and a new clubhouse.

Lennar Corp. bought 209 home lots in the Avalon Trails community west of Delray Beach for $27.64 million.

Miami-based 13FH Avalon, an affiliate of 13th Floor Homes, sold the home development lots to the national homebuilder (NYSE: LEN), also based in Miami. The agreement indicated the seller may receive additional compensation in the future based on the performance of home sales in the community.

The price equated to $132,249 per lot.

13th Floor bought the 110-acre former golf course at 7472 N. Oriole Blvd. for $5.4 million in 2018 and obtained approval for 521 homes for buyers age 55 and up. The developer broke ground on Avalon Trails in summer 2019.

Before selling 209 lots to Lennar, 13th Floor sold three homes there directly to buyers. The homes start in the mid $300,000s.

13th Floor still owns a portion of the site that has been approved for 200 multifamily residences. It has yet to break ground on that portion of the project. WOW!!!

New Golf Community Coming

North of Northlake Boulevard and west of the Florida Turnpike  

Famed golfer Jack Nicklaus will design a golf course within the master-planned community of Avenir in Palm Beach Gardens.  

The gated community will total 4,752 acres and will include 3,900 homes. The development will feature a working farm and more than 2,400 acres of conservation and preserve areas.

The community is approved for 400,000 square feet of retail space, 200,000 square feet for medical uses, more than 1 million square-feet of professional offices and a hotel.

National homebuilders such as Kenco, K.Hovnanian and Toll Brothers are building homes at Avenir.

The private golf enclave will also include 459 luxury single-family homes. Residents will have access to the club’s dining, spa, fitness center and pool, along with a “beach club” on a planned 10-acre Crystal Lagoon with white-sand beaches .

...

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