Builder spends $35M on land for gated community with nearly 700 homes

NAPLES — PulteGroup unit DiVosta recently closed on a $35 million deal to buy land for a community with 685 single-family homes in northeast Naples, next to the Valencia Golf & Country Club.  

Dubbed Terreno, the community is on a 320-acre parcel between Oil Well Road and Randall Boulevard, according to a statement. Pricing is expected from the upper $300s to $1 million, the release adds, and Terreno will offer a variety of one- and two-story home designs across three different series of home site sizes. Model homes are expected to break ground in spring 2022, with sales beginning early fall 2022.