National builder makes big land buy in master-planned community in Riverview
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jun 26, 2020

A national homebuilder has made a big land buy in a master-planned community in the Tampa suburbs.

In early June, Lennar Corp. paid $8.2 million for 141 lots in Triple Creek, a 990-acre mixed-use development off Balm Riverview and Big Bend roads in Riverview. The seller was the developer of Triple Creek, Jacksonville-based GreenPointe Communities LLC.

"The community continues to mature with the addition of the new Hammock Club, numerous recreational amenities and an expanding trail system," said Rick Harcrow, Central/West Florida regional president for GreenPointe. "In addition to Dawson Elementary School, a new Goddard school is in the approval process and is expected to accept students in early 2021."

Miami-based Lennar (NYSE: LEN) is already under construction on model homes on the lots, which are in Estates II, a spokeswoman for the builder said. The homes will be priced from the low $200,000s and range in size from 1,555 to 3,326 square feet.

Speculative homes, or inventory homes, were slated to begin construction this week.

"Lennar’s business model is to build spec homes, so we will have some on the ground for people that want to move in within 30 to 60 days," the spokeswoman said.

At completion, Triple Creek will be home to more than 2,000 homes and 50,000 square feet of commercial space.

Riverview's growing population has spurred the development of a new hospital and adjacent medical office space: AdventHealth recently closed on land in the area to move forward with a 360,000-square-foot hospital and 100,000 square feet of medical office space along with parking for both facilities.