HBW subscribers know that the residential construction employment is skyrocketing in Broward County. Southeastern Florida has always been an enormously popular residential market. During the housing bust, the area suffered tremendously. But with the real estate market recovering and empty-nester baby boomers flocking to retirement in the Sunshine State, Florida’s real estate market is recovering more quickly than other areas in the nation. “There’s tremendous demand in Parkland,” Mayor Michael Udine says, “people want to be in our city and this [new construction] allows that to happen.”
Parkland, an affluent suburb in the Miami-Pompano Beach-Fort Lauderdale Metro area, is benefitting from the improved buyer and builder confidence. More than 1500 homes are scheduled for construction in Parkland during the next year, with Toll Brothers, WCI Communities, and Lennar Corp. responsible for much of the development activity. The lush landscape and top-rated school districts have made Parkland one of the last areas left in Broward county for large-scale development.
Toll Brothers acquired the Parkland Golf & Country Club in 2010. Toll Brothers has finished 58 homes, and is in the process of building 220 more. Upon completion, there will be 900 homes in the Toll Brothers’ luxury Golf resort. This Mediterranean-inspired community features one- and two-story homes ranging from 2285-3000 square feet set along an 18-hole Greg Norman Signature golf course. Home prices start at $550,000.
Of the 738 lots available in Lennar Corp.’s Mira Lago property, 250 homes and townhomes have been built and sold. Although many of the amenities, such as the clubhouse and pool are still under construction, 70 families have already moved into Mira Lago. Most of Mira Lago’s lots are small peninsulas, which allow for individual properties to have panoramic lake views. Home prices range from $571,990-$681,990 and are between 2,264-4,676 square feet.
Much of the current development is being built on property sold off by WCI over the last five years. WCI sold significant acreage in order to focus their efforts on the massive Heron Bay development. Each of the 196 homes in two of the project’s neighborhoods sold out last year. 60% of the homes in Osprey Lake, Heron Bay’s newest neighborhood, have been sold, with 60 move-ins available expected to take place by year’s end. Homes in Heron Bay start at $527,900 and range from 2677-2914 square feet.