Lennar has purchased 31 acres in the Redlands area of unincorporated Miami-Dade County for $16.3 million, according to property records. The land is planned for 97 homesites as part of a development called Redlands Ridge. The transaction involved Lennar acquiring the site at Krome Avenue and Southwest 288th Street from Adrian Homes, owned by Pedro Adrian.
Adrian previously acquired the properties for a total of $11.5 million through two separate deals in 2022 and 2023. Last year, Lennar applied for rezoning of the land, with plans designed by Pascual, Perez, Kiliddjian, Starr & Associates. The project will use a workforce housing density bonus that allows up to 3.1 dwelling units per acre.
Sales have already begun for Redlands Ridge, though Lennar’s website currently lists only 78 available homesites out of the planned 97. Home sizes range from 1,800 to 2,800 square feet and offer three to five bedrooms. Prices are listed between $646,000 and $816,000.
Lennar is led by Executive Chairman and co-CEO Stuart Miller along with co-CEO and President Jon Jaffe. The company continues to expand its presence in South Florida with several projects underway or proposed throughout the region.
In June, Lennar proposed a townhome project near Homestead consisting of 106 units and also received approval that month for a separate development in Wilton Manors featuring 50 townhomes starting at $800,000 each. Earlier this year in February, it put forward plans for Rodan Estates—a community with nearly 200 single-family homes in south Miami-Dade County.
Recently, Warren Buffett’s Berkshire Hathaway invested nearly $800 million into Lennar by purchasing more than seven million shares. Following this investment news, Lennar’s stock price rose significantly and was trading at $140 per share as of Thursday afternoon.
