Homebuilding giant Lennar Corporation is part of a consortium that has acquired a significant 170-acre development site in Coconut Creek, Broward County, for $68 million. This acquisition is slated to become a substantial mixed-use development, projected to be valued at $1 billion. The project, named Mainstreet at Coconut Creek, aims to transform the former farmland into a vibrant community.
Key Takeaways
- Lennar purchased a portion of the 170-acre site for $40.4 million.
- The development will include residential units, retail space, and public amenities.
- The project is expected to break ground by the end of the year.
Development Plans
The expansive 170-acre property, previously a century-old farm operated by the Johns family, will be developed into a multi-phase, mixed-use community. Lennar’s specific involvement includes the development of townhouses, condos, and villas on its acquired parcel, located west of Lyons Road and between Wiles and West Sample roads. The overall project is designed to feature approximately 80,000 square feet of grocery-anchored retail, 792 apartments, 414 townhomes, 148 villas, and 296 condominiums.
Community Amenities and Infrastructure
Beyond residential and commercial spaces, the Mainstreet at Coconut Creek development will incorporate significant public amenities. Plans include four blocks dedicated to green space, featuring children’s play areas, a splash pad, a dog park, and a performance space. Public art installations and a parking garage are also part of the design. Additionally, space is being reserved for civic use, with potential for a new fire station.
Transaction Details
The land was sold by Johns Family Partners LLP. The partnership acquiring the site includes 13th Floor Homes, Rosemurgy Properties, Schmier Property Group, and Giles Capital Group, with Lennar Corp. being a significant buyer through a land bank company. Miskel Backman LLP managed the entitlement and approval process, while Nelson Mullins represented the developers in the closing. CIBC Bank USA provided $18.85 million in financing for the buyers.
Sources
- Lennar among buyers of Mainstreet at Coconut Creek development site, The Business Journals.
- Developers Pay $68M For Massive Broward Development Site: The South Florida Deal Sheet (October 20, 2025), Bisnow.
- Lennar plans City Park home community in Miami-Dade, The Business Journals.