Taken together, PulteGroup and Taylor Morrison purchased 550 acres in Sarasota County, Florida last month.

Late last month, Taylor Morrison and PulteGroup brought two separate land tracts in Sarasota County, Florida for a combined $63.74 million for 550 acres.

Taylor Morrison plans to develop its fourth Esplanade community, Esplanade on Palmer Ranch, on the 227 acres it purchased from McCann Holdings for $36 million. The gated community will include 500 homes at full buildout, and a wellness center and “Bahama bar” will be available to residents. The community is set to open in late 2017.

“We’re very excited that we’re starting on our next Esplanade community, to offer elevated resort-style living,” said Cammie Longenecker, director of Taylor Morrison’s Southwest Florida operations.

Pulte plans to build up to 246 homes on the 321.5 acres it acquired in Lakewood Ranch from an affiliate of Schroeder-Manatee Ranch Inc. for $27.7 million.

Both transactions are among the largest residential land purchases in the county this year.

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