Home builders who are betting that Miami-Dade County's surging demand for housing will continue to expand beyond the county's borders are acquiring large tracts to the north and the south for residential developments.
Sunrise, FL-based GL Homes paid $34M to acquire 421 acres north of Palm Beach in western St. Lucie County, where the company is planning to seek approval from the county to build 1,100 homes on the site, CoStar reported.
GL Homes also acquired 57 acres for $23.5M in a separate transaction west of Palm Beach Gardens, where it is planning to add 225 homes to the master-planned Avenir community.
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