Developer Acquires Townhome Project in Fort Lauderdale
A former mobile home park will become a seven-acre townhome property in Fort Lauderdale, per The Real Deal.
Miami-based Lennar Corporation paid $7.5 million for the site, located at 2807 Southwest 15th Ave., marking a noticeable uptick in price since its last purchase for $4.1 million in 2014. The seller is EW Townhouses LLC, which began construction on the townhomes last year, according to Broward County records.
Under Lennar, the townhomes will become The Reserve at Edgewood, a 105-unit community comprised of two-story, two- and three-bedroom townhomes ranging from 1,100 to 1,400 square feet with three different floor plans available. The site is about six miles from Fort Lauderdale Beach.
Each unit will include details like granite countertops, garages, and covered porches, according to The Reserve website. The property will also offer amenities including a heated swimming pool, dog park, fitness center, playground, and clubhouse. Prices start in the low $300,000s.
The Urban Land Institute recently named Fort Lauderdale to its list of real estate markets to watch, due to its status as a smaller city with young, highly educated residents.