In another example of golf course redevelopment in land-constrained South Florida, Pulte Homes is planning more than 400 single-family homes and townhouses on a long-closed fairway north of Miami.
Declining interest in golf has forced the closings of courses in South Florida and across the country. Much of metropolitan Miami is wedged between the Atlantic Ocean and the Everglades, leading to severe land shortages in the region. As a result, builders are looking to golf courses, shopping centers and other sites for redevelopment opportunities.
Pulte is building Oak Tree, a planned community of 273 single-family homes and 132 townhouses at 2400 Oak Tree Road in Oakland Park, Florida. The builder said it worked with the city and surrounding homeowners on a plan for the site for more than three years. The former Oak Tree Golf Course closed over a decade ago.
“Oak Tree will revitalize an area that has not seen significant development in years and will provide much-needed new housing in Oakland Park,” Brent Baker, Southeast Florida division president for PulteGroup, said in a statement. PulteGroup is Pulte Homes’ parent company.
Pulte did not release home prices, but the company said it would begin sales next summer. The builder bought the 139-acre site for $31 million from Blackshore Partners LLC, according to F. Thomas Godart of Godart Florida Real Estate Investments, which represented Pulte in the sale. The seller did not have broker representation.
Pulte originally wanted to build close to 700 units but agreed to reduce the density, Godart said in an interview.
Atlanta-based PulteGroup is the nation's third-largest homebuilder with $9.8 billion in housing revenue last year, according to Professional Builder, a trade publication. Miami-based Lennar Corp. ranks first at $18.8 billion and D.R. Horton of Arlington, Texas, ranks second at $15.7 billion.
https://www.costar.com/article/1435900332/builder-to-turn-former-florida-golf-course-into-housing-development
