Lennar Homes purchased approximately 234 acres of land in west St. Augustine as part of a move to develop the land into a single-family housing community.
Ohio-based Hills Communities, through affiliate Augustine Properties LLC, sold the property to Corner Lot Development through affiliate Rivalle Ventures LLC for an undisclosed price. Corner Lot then sold the property to Lennar, also for an undisclosed price. The sale was executed Feb. 9.
Douglas Calderwood, principal broker and founder of New South Realty, represented the seller.
Lennar is planning a community, dubbed St. Augustine Lakes, which would include approximately 424 single-family homes that would be built on a mix of lots that are 42 feet and 52 feet wide.
Augustine Properties purchased the property in 2006 and initially rezoned the property for a planned unit development of around 800 units. In April 2020, the PUD was modified to decrease the number of buildable lots, according to Calderwood.
Site plans show the larger lots would be situated on the eastern half of the project, while the smaller lots would be on the western side.