Land Deal Wrap-Up: From East to West – Pulte, Lennar, Tri Point Expansion
National builders scout land acquisitions from coast to coast with companies expanding to new markets and adding to their inventory pipelines in existing strongholds. Tri Point Homes enters South Carolina while Pulte shores up its Chicago area holdings and Lennar commits more resources to the Vegas market.
Tri Point Enters South Carolina
Tri Point Home is entering the coastal South Carolina market, beginning with two projects in the Lowcountry of Beaufort County that will create 75 single-family houses and townhomes.
Tri Point’s South Carolina projects, located in Beaufort and Bluffton, will mark the company’s first land acquisitions in South Carolina, said Gray Shell, who heads the company’s Coastal Carolina Division. Tri Pointe Homes is expanding in North and South Carolina with its Coastal Carolina office located in Charlotte.
“We think they will be growth markets with a lot of housing demand,” Shell said of the Carolinas. Migration in the Hilton Head, Bluffton and Beaufort markets along with Charleston and Savannah is creating housing demand, says Gray. He sees tremendous potential in the Savannah area in particular because of investments in that area by Hyundai Motor Co., Gulf Stream Aerospace Corp. and the Port of Savannah. The Beaufort project includes up to 50 for-sale townhouses along Highway 170, one of the busiest of areas of housing and commercial growth in Beaufort and Port Royal. In Bluffton, Tri Point Homes is planning 26 single-family home sites west of the walkable downtown Promenade, a popular outdoor shopping and dining destination in the heart of Old Town Bluffton. The homes will feature of a mix of attached and detached “rear load” garages located along alleys behind the townhouses, with a focus on “courtyard outdoor living.”
If all goes as planned, the first homes sales will likely occur in 2027. The company has several additional housing communities in various stages of design in the region but those projects are not under contract at this time. Reported by The Island Packet May 2025
The land for both projects is under contract with the sales expected to be finalized once the proposals receive approvals from local governments.
Pulte Expands in Chi-Town Area
Pulte Group looks to purchase 32 acres in the Chicago area for a new subdivision. The company would buy the land from the DuPage Water Commission for about $14 million.
Pulte officials told the commission the company expects to build at least 60 homes on the vacant, wooded site, with the purchase contract including a proviso that the commission receive an additional $233,000 from the commission for every lot beyond 60 that it is allowed to build.
Pulte has not said whether it would be constructing single-family homes, townhomes or apartments, nor has it indicated if it will seek annexation into Naperville or Woodridge or remain unincorporated, all of which are options.Reported by The Daily Herald, July 2, 2025
Lennar Likes Vegas
In the Las Vegas market, Lennar Corp. is developing a 190-lot housing tract in the Southern Highlands master-planned community at the southern tip of the valley. Clark County commissioners approved project plans early last year, and the county Building Department issued grading permits for the 54.4-acre site over the past several months, records show.
Plans call for homes ranging in size from 2,126 s.f. to 3,475 s.f. Construction is currently underway. Plans filed with the county refer to the project as Westridge at Southern Highlands.
Jen Partners, a New York-based residential land investment firm that sells tracts to homebuilders, purchased the project site last year for about $33.6 million and granted an option to Lennar to buy the lots, Clark County records show. Reported by The Las Vegas Review-Journal
