The property's price tag was undisclosed. According to published reports, WCI sold the 483 acres for approximately $100 million, while retaining the remaining portion north of Indiantown Road.
Residences in the Jupiter Country Club community will begin selling in early 2006. Prices are expected to begin in the $700,000s and reach to about $1.3 million. Revenues are expected to exceed $670 million over a six-year period. Currently, Robert Toll, chairman and CEO, says the average selling price for Toll-built homes is $644,000, and the average price for contracts signed is $693,000. Calling South Florida one of the company's "hotter markets," he says prices for the company's homes on Florida's east coast have risen approximately 20% in the past year.
The Jupiter Country Club will be Toll Brothers' 15th golf course community nationwide. It is currently building 21 communities in Florida. Among them are Frenchman's Reserve in Palm Beach Gardens, Mizner Country Club in Delray Beach and Naples Lakes Country Club, all of which contain golf courses by notable course designers.
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