54 new single-family homes planned near Palm Springs area

A developer has flipped 14 acres of land in unincorporated Palm Beach County, bringing the area one step closer to having new single-family homes.

Developer Brian Tuttle sold the land — which already has rezoning and site plan approval for 54 single-family homes — to builder D.R. Horton for $2.85 million.

The project, dubbed Purdy Royale, is off Purdy Lane near Palm Springs and will include one- and two-story homes. Prices are expected to range from $299,000 to $399,000.

Marissa Awtry, a spokeswoman for D.R. Horton, did not respond to requests for comment on Thursday.

Tuttle, head of Tuttle Land Development, purchased the land for $1.65 million two months ago. It was a sale that stretched out for two years and resulted in court mediation and a trial, he said.

Tuttle’s business model is to buy land: Sometimes he builds, and sometimes he applies for rezoning and site plan approvals then flips the land to home builders. The home builder avoids the risk of the property not getting approved.

In September, Tuttle announced the sale of 30 acres to FCI Residential Corp. for about $16.6 million. That property is zoned for 293 high-end luxury apartments and 69 work force housing units. About 3 acres are earmarked for a 300-student preschool and a 2,500-square-foot coffee shop, Tuttle said.

He had bought the land about 14 months prior from the state’s Department of Transportation for $8 million.