June 18, 2018 - The Real Deal
13th Floor Homes closed on a 110-acre development site in west Delray Beach where it’s planning to build a 55-plus living community.
The Miami-based home builder paid $5.4 million for the property at 4800 Cumberland Drive, which will become Avalon Trails, an age-restricted development with 521 single-family homes, villas and apartments, according to a press release.
Marina Lakes LLC, tied to Peter Vitale, sold the site to 13th Floor for about $49,000 per acre. Marina Lakes paid $2.2 million for the property, formerly an 18-hole golf course, in 2005.
13th Floor will break ground and launch sales of Avalon Trails later this year. Prices will range from the 300,000s to $500,000s. The site plan restricts home building to about half of the property’s developable land, instead allowing for more green space and community improvements.
Amenities will include a clubhouse with pools, card rooms, exercise equipment, business centers and billiards areas; tennis and pickleball courts, bocce ball, and more than two miles of landscaped walkways and trails, lakefront park areas and community security, according to the release.
Residents of the Villages of Oriole, an adjacent senior living community, gave the Avalon Trails project a 95 percent approval rating in February 2017, allowing 13th Floor to proceed with the community.
A number of developers are picking up golf courses to convert them into single-family home communities, including Lennar Corp. and Pulte Group.
Avalon Trails marks 13th Floor’s fourth golf course redevelopment with more in the approval process. The company recently completed three in Tamarac: Central Parc, a 253-single-family home community, Manor Parc, a community of 239 single-family homes, and Hidden Trails with 214 homes. – Keith Larsen