Dirt is moving on a hillside overlooking Lake Dora for a new 38-lot subdivision called Dora Parc where every home is required to have a porch to take in lake views and sunsets.
Plans for the Lake County development on the west side of Clayton Street at the Orange County line are not new. The 13-plus acre parcel was approved in 2004 under the name of Gates of Mount Dora, only to be shelved by the previous owner because he saw the real estate market collapse coming, said Joseph Kantor of Empire EQ Homes LLC. Empire EQ LLC bought the property late last year from its former owner, Sidney Shams for $1.6 million, according to Lake County property records.
"It's a good location, it's a good time to do it now as the market is coming back," said Kantor. "We took a chance."
Site work is underway by Award Excavating Inc. to contour the land and install the infrastructure, which should take about 60 days, Kantor said. Then he plans to start two models and also offer speculative homes for sale as well.
The plan is financed by Kantor's company and Axiom Bank.
The 2,500-3,500-square-foot homes will have between three and five bedrooms and sell for between $420,000 and $520,000. Garages can be expanded to house boats and other water toys. He expects build-out in two- to two-and-a-half years.
Kantor is doing the development and construction through a subsidiary company called Kancor Companies. He said he has developed other lots in Lake Mary, Ocoee and Windermere.
When Kantor bought the land its approvals had expired and had to be voted on again by the Mount Dora City Council, which approved them late last year. There were no substantial changes made to the original land plan.