Homebuilder Toll Brothers adds to portfolio aimed at active adult communities in Palm Beach Gardens

  

 

Toll Brothers is continuing to bet big on western Palm Beach County, adding another development to its portfolio at a massive housing community aimed at older adults.

The Pennsylvania-based homebuilder paid $31 million for a property it intends to develop into 469 single-family houses in an active adult community in Palm Beach Gardens. Toll Brothers bought the property from the development group Avenir Development, led by Landstar Development Group.

The age-restricted community, The Regency at Avenir, will be the third community that Toll Brothers is looking to build in the 4,783-acre master planned community west of Bee Line Highway. Avenir was approved for about 3,000 single-family homes, 400,000 square feet of commercial space and 1.94 million square feet of office space for the whole complex. The development will take 30 years to complete and will include a golf course as well as a crystal lagoon.

Homes in the Regency at Avenir will range from 1,800 to 2,800 square feet, and will have 10 different floor plans, according to a press release. Construction on the community’s sales center and model homes will begin this winter, with sales to start in the spring, according to Fred Pfister of Toll Brothers. He said homes will start in the $400,000 range.

Amenities in the complex will include a yoga studio, pool, a fitness and wellness center, outdoor amphitheater, ballroom, pickleball and tennis courts.

In June, Toll Brothers paid $21.7 million for 217 lots to build two new communities communities in the development, Windgate at Avenir and Watermark at Avenir.

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