Lennar has purchased 31 acres in the Redlands area of unincorporated Miami-Dade County for $16.3 million, according to property records. The site, located at the intersection of Krome Avenue and Southwest 288th Street, is planned for a development called Redlands Ridge that will feature 97 homesites.
The seller was Pedro Adrian’s Adrian Homes, which acquired the land in two transactions totaling $11.5 million in 2022 and 2023. Lennar submitted a rezoning application last year, with Pascual, Perez, Kiliddjian, Starr & Associates designing the site plan. The plan incorporates a workforce housing density bonus of 25 percent, allowing for about 3.1 dwelling units per acre.
Sales have begun for Redlands Ridge, but Lennar’s website currently lists only 78 homesites available. 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 and co-CEO and President Jon Jaffe. The company has an extensive presence in South Florida with multiple projects underway or proposed across the region. In June, Lennar proposed a project of 106 townhomes near Homestead and received approval for another development in Wilton Manors with 50 townhomes starting at $800,000. Earlier this year, it also proposed Rodan Estates with plans for 192 single-family homes in south Miami-Dade County.
Recently, Warren Buffett’s Berkshire Hathaway invested nearly $800 million by acquiring more than seven million shares of Lennar stock. Following this investment news, Lennar’s share price rose to $140 as of Thursday afternoon.
