Developer buys Parkland parcel for a steal, plans to build homes

Centerline Homes is preparing for a rebound with the acquisition of a 106-acre parcel in Parkland for the bargain price of $11.12 million.

The parcel was owned by Tousa Homes, the Hollywood home-builder that’s in Chapter 11 bankruptcy.

Tousa bought the site for $53 million in January 2006. The seller at that time was a partnership that included developer George de Guardiola, who built the Abacoa Town Center in Jupiter.

At $104,980 per acre, Centerline paid 79 percent less than Tousa’s $500,472-per-acre price two years earlier. Coral Springs-based Centerline plans to build 70 townhouses restricted to buyers age 55 and over, and 177 single-family homes with no age restrictions.