One of the largest U.S. homebuilders is planning two South Florida developments that will cater to buyers at opposite ends of the pricing spectrum.
Atlanta-based PulteGroup said it will build an affordable housing community with homes designed for lower-income buyers in Boynton Beach, Florida, in southern Palm Beach County. In the northern part of the county, Pulte is building 75 homes under its DiVosta brand within the Eastpointe Country Club in Palm Beach Gardens. Prices there will start at more than $1 million, the builder said.
South Florida's explosive growth in the 1980s and '90s has left few large land parcels for development. The region is wedged between the Atlantic Ocean and the Florida Everglades, a unique geography that limits new construction. Homebuilders in the area often have to compete for smaller sites that can accommodate boutique projects such as the two Pulte is planning.
Pulte is the third-largest U.S. homebuilder based on 28,603 sales last year, according to Builder magazine. Pulte acquired the DiVosta brand as part of a 1998 deal for longtime South Florida homebuilder DiVosta and Co. Pulte also builds under the Pulte Homes, Centex, Del Webb, American West Homes and John Wieland Homes and Neighborhoods brands.
Pulte said it bought 4.5 acres from the Boynton Beach Community Redevelopment Agency for Cottage District, a development of 41 single-family homes and townhouses. Homes there will be priced "within the financial reach of buyers in the lowest two area-median-income categories," the company said in a statement.
The site fronts Seacrest Boulevard between Northeast Fourth Avenue and Fifth Avenue. Development is expected to begin early next year, and the county will manage the buyer application and approval process, according to the builder. Pulte said it will build its 100th workforce housing unit in the county during the construction of Cottage District.
Meanwhile, in Palm Beach Gardens, construction on models for the Reserve at Eastpointe will begin immediately, according to the builder. Sales are due to launch in 2025, with the first homes ready for occupancy later in the year, the company said.
Pulte will cover the initiation fee for a social membership in the country club, but buyers will be responsible for annual dues, the builder said. Buyers also will have access to a fitness center, casual restaurants, two pools, tennis courts and pickleball courts.
"The Reserve at Eastpointe will be an ideal place for families and retirees seeking a luxury lifestyle that centers around a private country club setting," Brent Baker, Pulte's Southeast Florida division president, said in a statement.