D.R. Horton has 96.7 acres of farmland in Homestead under contract for a future mixed-use community.
The Arlington, Texas-based homebuilder (NYSE: DHI) filed a municipal pre-application with Miami-Dade County officials concerning the property at the northeast corner of Southwest 328th Street and Southeast Sixth Avenue. It’s just west of Florida’s Turnpike.
The developer has all 10 parcels under contract from Richard T. Alger, the John L. Alger Trust, and Elizabeth Alger. The Alger family has farmed in Homestead for decades.
With home prices rising fast in Miami’s urban core further north, Homestead has become a more affordable option for residents as the county’s population continues growing. D.R. Horton has been extremely active in south Miami-Dade and this would be one of its biggest projects in the area.
The preliminary site plan under the mixed-use category calls for 500 multifamily units, 106 single-family homes, 53 “work lofts” with residential and workspace inside a home, 126,000 square feet of commercial space, and six acres of lakes. The commercial space may also include education uses. Coral Gables-based Valle Valle & Partners is the architect on the project.
The project is dubbed Alger Commons.
Neither attorney Melissa Tapanes Llahues, who represents the developer in the application, nor a representative of D.R. Horton could be reached for comment.