Lennar has purchased 31 acres in the Redlands area of unincorporated Miami-Dade County for $16.3 million, with plans to develop 97 homesites under the project name Redlands Ridge. The site is located at the intersection of Krome Avenue and Southwest 288th Street. The seller was Adrian Homes, owned by Pedro Adrian, which acquired the land for a total of $11.5 million in two transactions completed in 2022 and 2023.
Planning documents show that Lennar applied for rezoning last year, and Miami-based architecture firm Pascual, Perez, Kiliddjian, Starr & Associates designed the site plan. The development uses a workforce housing density bonus of 25 percent, allowing up to 3.1 dwelling units per acre.
Sales for Redlands Ridge have already begun, although Lennar’s website currently lists only 78 homesites available. Planned homes will range from three to five bedrooms and between 1,800 and 2,800 square feet. 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 remains active in South Florida’s residential market with several other projects underway or recently approved. In June, Lennar proposed a project of 106 townhomes near Homestead and received approval for a separate 50-townhome development in Wilton Manors with starting prices at $800,000. Earlier this year, it announced Rodan Estates with plans for 192 single-family homes in south Miami-Dade County.
The company recently attracted significant investment when Berkshire Hathaway, headed by Warren Buffett, acquired more than seven million shares for nearly $800 million. Following this investment, Lennar’s stock price rose to $140 per share as of Thursday afternoon.
