Transaction represents developer’s commitment to diversified product offering in 3,800-acre master-planned community
CITY OF WESTLAKE, FL (May 2, 2019) – Minto Communities USA has taken the first significant step toward diversifying the product mix in Westlake. The award-winning developer/builder has sold a 270-acre parcel within the 3,800-acre master-planned community to Kolter Homes, which plans to develop an age-restricted, active adult neighborhood. The acquisition closed April 26. Terms were not disclosed.
Kolter intends to build up to 800 homes under its Cresswind brand, although specific house plans have not yet been submitted to the city. This marks the first time Minto has welcomed an outside builder into Westlake, which is approved for 4,500 homes and more than 2 million square feet of commercial development.
Westlake is one of the fastest growing communities in all of Palm Beach County according to building records. To date, Minto has sold nearly 300 single-family homes in its first neighborhood, The Hammocks, and recently started selling select homes in a second neighborhood, The Meadows. Prices for both neighborhoods start in the high $200,000s. Move-in-soon homes are available.
The land sale to Kolter reflects Minto’s desire to broaden the product offering within Westlake.
“Our goal from the outset was to create a lifestyle community that attracts people of all ages with different housing needs,” said Mike Belmont, president of Minto Communities USA. “By bringing in other quality builders with different home styles, specifications and price points, we can make Westlake more attractive to a wider group of homebuyers.”
Belmont said Minto is currently under contract to sell another parcel of land to a second homebuilder and expects to make an announcement in the coming weeks.
Buyers in Cresswind will have access to Minto’s multi-million-dollar amenities center known as the Westlake Adventure Park, which is slated to open early this summer. The Adventure Park consists of a concert pavilion, expansive recreational lawn areas with shade pavilions and grills for picnics, lawn games and community events, a bicycle pump park, adventure playground and bocce ball courts. There is also a resort-style lagoon pool with a waterslide, splash pad and concession stand. An adult pool and outdoor basketball courts will be added during phase II.
Non-residential development is also taking shape at Westlake. Earlier this month, the first new commercial development and healthcare facility in the city, ER at Westlake, opened to patients. FPL recently broke ground on a new solar farm, and construction is well underway on a new county fire station and district headquarters.
Westlake is located at 16610 Town Center Parkway North in the City of Westlake on Seminole Pratt Whitney Road between Southern Blvd. and Northlake Blvd.
About Minto Communities USA:
Minto Communities USA, based in Florida since 1978, has represented integrity, financial strength and enduring value for over 40 years. Minto builds exceptional new homes and communities to meet every lifestyle, with more than 25,000 new homes built in 48 communities. Minto is dedicated to continuous improvement in design, quality and customer experience. These are just some of the elements that set Minto apart as an exceptional homebuilder and community developer and have earned the company national recognition that includes consistently high rankings from Eliant Customer Service Surveys. Minto has been recognized with multiple national awards from the National Association of Home Builders (NAHB) for community and home design, including Best Mixed-Use Community and Best Clubhouse for The Isles of Collier Preserve in Naples, Florida; and Best Clubhouse for the Harbour Isle Beach Club in Sarasota-Bradenton, Florida. Minto won several Southeast Building Conference 2018 Aurora Awards, including the Grand Award for Best Multi-Family Residential Community for One Particular Harbour Margaritaville in Sarasota-Bradenton, Florida; and the Silver Award for Best Single-Family Residential Community for Westlake in the City of Westlake, Florida. Minto is also recognized throughout the homebuilding industry as an expert in developing active-adult communities. The NAHB named Minto as 2019’s 55+ Builder of the Year and Latitude Margaritaville Daytona Beach as Best 55+ Community of the Year.