D.R. Horton purchased a development site in Homestead for $16.9 million, as homebuilders continue to seek developable land in south Miami-Dade.
The Arlington, Texas-based homebuilder acquired 97 lots across two parcels, Aspen Estates East and Aspen Estates West, from M Aspen Homestead LLC, records show. The price amounts to about $174,000 per lot.
D.R. Horton had the site under contract from M Aspen Homestead in 2024 through a $2.53 million mortgage deposit, records show.
Spokespersons for D.R. Horton and M Aspen Homestead did not immediately respond to a request for comment.
The acquisition comes as Homestead and south Miami-Dade have become a hotbed for homebuilders in recent years, driven by land scarcity in the county’s urban core and cheaper land prices that have pushed development farther south.
Last year, D.R. Horton proposed a 247-unit project comprising 190 townhouses and 57 single-family homes on a 26.2-acre site at 19300 and 19360 Southwest 344th Street, the South Florida Business Journal reported. The company also proposed a separate development with 34 single-family homes on 7.37 acres at 19470 and 19400 Mowry Drive.
D.R. Horton also dropped $65 million in 2024 for 97 acres of Homestead farmland from the Alger family at Southwest 328th Street and Southeast 6th Street for its planned Sandero Landing community.
Construction began last year on the project, which is planned to include 1,100 residential units, two- and three-story townhomes, a four-story mixed-use residential development and more than 190,000 square feet of commercial space, according to land use and zoning attorney Maritza Haro Salgado, who served as counsel for the project.
D.R. Horton isn’t the only homebuilding giant making moves in the region.
In March 2025, Lennar paid a combined $24.9 million through land banks for three Century Homebuilders sites totaling 24.7 acres near Florida City and Homestead, the South Florida Business Journal reported. The sites are slated for 117 townhouses and 108 single-family homes. A month later, Lennar scooped up two more Century Homebuilders sites in Florida City through land banks for an additional $22.9 million for a combined 18.2 acres.
Lennar also proposed 106 townhomes near homestead in June 2025 for the Retro West complex, consisting of 11 workforce units on a 10-acre vacant site on the northwest corner of Southwest 338th Street and Southwest 192nd Avenue. One of the three adjacent lots is at 33700 Southwest 192nd Avenue. The homebuilder paid $21.8 million in 2024 for the three lots plus a fourth site in south Miami-Dade that is not part of the planned development, records show. The Retro West site was later sold to an entity led by New York-based DW Partners principals Marc Valdes and Houdin Honarvar, whose affiliate is likely serving as a land bank for Lennar by holding the property until the homebuilder is ready to develop it.
According to D.R. Horton’s most recent earnings release as of March 31, David Auld, executive chairman, stated that affordability headwinds and cautious homebuyers continued to constrain demand, but the company increased net sales orders by 11 percent year-over-year to 24,992 homes with an order value of $9.2 billion.
As of March 31, D.R. Horton reported 38,200 homes in inventory, of which 22,900 were unsold, and 5,500 of the company’s unsold homes were completed.
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