A FL Farm Sells Nearly 900 Acres For $121 Million. 1,170 Residental Units Planned For Part Of Land

Photo byDietmar ReichleonUnsplash

Agriculture is a large and important part of Florida's economy. According to the University of Arkansas, Florida generated around $9 billion in agricultural cash receipts in 2022. However, some of Florida's farmland is being sold to developers. I've written about JackRBT Farms selling farmland to Pulte Homes as one example. And now Homestead's Alger family of Alger Farms has sold nearly 900 acres of its property - with some of it being planned for over 1,000 apartments.

About Alger Farms: According to the farm's website, it specializes in fresh winter corn, snap peas, and "landscape materials." The farm was founded way back in 1944 by Mason W. Alger.

Those who review the farm on Google reviews often mention the sweet corn. A reviewer named Joe wrote:

"One of the premier growers in south Florida. Their corn is amazing, and the trees are top quality. (This is) the only company in South Florida that can grow a Florida fancy live oak. Not to mention the staff is always kind, cordial, and knowledgeable."

The Land Sales: In early July of 2024 the Alger family sold 97 acres to homebuilding giant D.R. Horton for $65 million. Plans are underway to turn the property into the Sandero Landing community, which is slated to have around 1,170 residential units - 417 multifamily, 691 townhouse, and 62 live-work.

Recently, the Alger family sold another 797 acres of farmland in Homestead to Miami-Dade Land Co LLC., a Delaware-registered company with a listed address in Carlsbad, California. The purchase price was $56 million. So the two sales combined equals 894 acres for $121.

The author is not affiliated with Alger Farms, D. R. Horton, Pulte Homes, or any other agriculture businesses or home builders.