A former golf course on the outskirts of Century Village near West Palm Beach sold to homebuilders for $36.92 million.
Fairways LLC, owned by Andrew Waldman and Ana Waldman in Deerfield Beach, sold the 57.3-acre site at the southwest corner of Century Boulevard and Haverhill Road to KL Reflection Bay LLC, an affiliate of Delray Beach-based Kolter Land, the residential land development arm of Kolter Group. Arlington, Texas-based D.R. Horton (NYSE: DHI) provided an $8 million mortgage to the buyer.
The property last sold for $2.3 million in 2004, when it was purchased from the Turtle Bay Country Club.
Kolter Land President Jim Harvey said his company will develop the lots and D.R. Horton will be the homebuilder. It will take about six months to complete the planning and engineering for the project, he added. It will be called Reflection Bay. The home sizes haven’t been finalized, he added.
They are seeking to build 707 homes there. D.R. Horton filed the application to rezone the former golf course in 2021.
Many golf courses in South Florida have been redeveloped as the cost to maintain golf courses has increased while home values have soared, making these properties more valuable as residential communities.
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