Lennar Homes buys land for future Wimauma community

BUYER: Lennar Homes LLC, Tampa
SELLER: Landsources Holding Co. LLC
PROPERTY: a portion of State Road 674 and U.S. 301, Wimauma
PRICE: $10 million

PLANS, DESCRIPTION: Miami-based Lennar Homes purchased 304.2 acres of vacant land for $10 million.

The price equated to $32,868 per acre.

Lennar Homes plans to use the property, which is zoned mixed-use plan development, for a new residential community, according to Mark Metheny, Lennar division president for Central Florida.

Development is scheduled to start in late 2014.

The homebuilder is still putting together its development plan for the property and was uncertain of the scope and exact makeup of the future community.