A quiet stretch of lakefront in Hialeah is suddenly in play. A local land bank paid $18.75 million this week for an 18 acre parcel that could become a 178 unit townhouse community developed by Lennar. The deal would drop a sizable for sale project into a part of the city long dominated by low rise homes and small commercial sites. The parcel sits near the southeast corner of Northwest 97th Avenue and West 92nd Street.
The South Florida Business Journal reported that the land bank paid $18.75 million for the site and said the property is slated for 178 townhouses with a lakefront clubhouse. According to the outlet, the story ran on July 9, 2026 and identified a land bank entity as the buyer.
Project site and scope
According to Florida YIMBY, Lennar had been under contract to purchase an 18.2 acre parcel from Miami Lakes based Ita Regio LLC and envisioned roughly 15.2 acres of developable land for 178 three bedroom townhomes. The outlet said the plan included about 356 surface parking spaces, an average of two per unit, plus a lakefront clubhouse and pool, and that the developer sought a rezoning to RH-3-M to allow the density.
Permits, rezoning and timeline
Entitlements are still pending, and the parcel needs rezoning and formal site plan approval before construction can begin. The South Florida Business Journal noted that the sale transfers control of the land to the buyer while the typical public review steps proceed. Neighbors and city staff will get chances to weigh in at planning board meetings and council hearings.
Why builders are buying now
Large builders have been scooping up development sites across South Florida to refill their lot pipelines; The Real Deal reported a recent Millrose, a Lennar affiliate, purchase as an example. Local market data from Miami Realtors show townhome and condo activity in Hialeah's 33018 zip code and a Q1 2026 median sale price near $480,000, underscoring demand for for sale product in the area.
What to watch next
Look for rezoning notices, site plan filings and public hearings on Hialeah's calendar in the coming months; until permits are issued, the sale mainly consolidates development control. Public filings and council agendas will show how the project moves through the city's review process.
