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PulteGroup Invests $21.1 Million in Prime 27-Acre Development Site for 210-Unit Townhouse Community near Lake Worth Beach

Records indicate that the Atlanta-based developer acquired the site through five separate deals. This assemblage, located along Military Trail and Sylvia Lane, has received approval for Everton, a project comprising 210 townhouses, according to Brent Baker, the division president for Southeast Florida at the firm. Pulte Homes anticipates commencing construction within the next six months, adding to its growing development portfolio in Palm Beach County.

The townhouses within the Everton community are expected to be priced in the range of $ 400,000 to $ 500,000, a segment that Baker believes is currently “underserved” in the county. The development will feature gated access and amenities such as a pool and cabana, as detailed in a press release. Baker foresees the target demographic for the two-story units to include young professionals and young families. Sales for Everton are scheduled to begin late next year, with move-ins projected for 2025 and the final completion planned for 2027. According to Baker, the Everton development site was the result of years of effort, driven by land scarcity in Palm Beach County.

Baker emphasized Pulte’s interest in building more projects at this price point but noted that the rising land costs in Palm Beach County present a significant challenge.

He explained, “There’s incredibly high demand at this price point because it’s so underserved.”

In addition to the Everton project, Pulte is engaged in several other developments in Palm Beach County. Notable among them are their planned projects in Palm Beach Gardens’ Avenir. Last October, Pulte acquired 80 homesites for $8 million in Avenir. This is in addition to the $13.7 million site that Pulte purchased for its Avondale at Avenir project, which is expected to feature 390 single-family homes.

Pulte’s presence extends to Broward County as well, where they invested $6.9 million in July of the previous year to acquire a development site in Plantation for an 86-unit townhouse project.

“For over 15 years, US Asset Loans have been providing funding to Real Estate investors”

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