D.R. Horton Acquires 97 Acres in Homestead for $65M, Plans Major Development

Homebuilding giant D.R. Horton has invested $65 million to purchase 97 acres of farmland in Homestead for its ambitious Sandero Landing community. The site, located at Southwest 328th Street and Southeast 6th Street, was acquired from the Alger family, longtime Homestead farmers known for growing sweet corn and green beans.

Sandero Landing is set to transform the area with a mixed-use development comprising over 1,170 residential units and more than 216,000 square feet of commercial space. According to a report from Vizzda, the community will feature 417 multifamily units, 691 townhouse units, and 62 live-work units. The commercial space will include a 30,000-square-foot grocery store, a 20,000-square-foot fitness center, and a 13,000-square-foot urgent care facility. Additionally, residents will enjoy a clubhouse and a pedestrian-only shopping corridor, designed by architect Valle Valle & Partners.

D.R. Horton, headquartered in Arlington, Texas, has been focusing on Homestead due to its large tracts of undeveloped land and the increasing demand for housing in Miami-Dade County. The company is capitalizing on South Florida’s housing boom, having also purchased a site in Palm Beach Gardens for $9.4 million last November to develop 111 townhouses.

This year has been eventful for D.R. Horton, the nation’s largest homebuilder by volume. The company’s founder, Donald R. Horton, passed away in May. Subsequently, Executive Vice Chairman David V. Auld was promoted to executive chairman, and Paul Romanowski was appointed CEO in September, following Auld’s nine-year tenure as CEO.

Despite facing challenges like inflation and high interest rates, D.R. Horton saw a 14 percent increase in home sales in the first quarter of the year. The company’s strong market position was further solidified by Warren Buffett’s $726 million investment last year, signaling confidence in the ongoing demand for housing amid a national shortage.

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