See how many houses Pulte Homes hopes to build at Turnpike and Lake Worth Road

Trading horses for houses: Gulfstream Polo's equestrian facility is set to give way to houses.

Trading horses for houses: Gulfstream Polo’s equestrian facility is set to give way to houses.

In a deal that could spur construction of modestly priced houses, Pulte Homes just paid $49 million for 160 acres at Lake Worth Road and Florida’s Turnpike.

The deal includes Gulfstream Polo Club and several nearby horse farms, said Atlantic Western Realty Corp., which brokered the deal. Pulte has a contract to buy an additional 70 acres.

Pulte in November asked Palm Beach County for permission to build 983 homes on the 225-acre property.

The $49 million sale marks one of the largest land deals this year in Palm Beach County, Atlantic Western Realty said.

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