Tavistock Development Company is preparing for the development next year of a new portion of key roadway in its Laureate Park community in Lake Nona, and the third phase of Laureate Park Village Center.
The developer filed a request this week with the South Florida Water Management District to build Phase 5 of Nemours Parkway, which will absorb 14.7 acres around the southern base of The Preserve, a new gated subdivision now under construction by Taylor Morrison.
The new portion of Nemours Parkway would connect on the eastern side at Upper Harden Avenue, and on the western side at Dausset Street.
Laureate Park is Lake Nona's largest and fastest growing neighborhood, and should have close to 2,650 homes at full buildout. Since opening to development five years ago, about 1,100 homes have been sold and about 870 are occupied as of now, said Rob Adams, vice president of residential development for Tavistock.
Primary homebuilders for Laureate Park are David Weekley Homes, Ashton Woods, Craft Homes, Minto Communities and Taylor Morrison.
Construction on the Nemours Parkway Phase 5 extension should begin in six to eight months, said Jessi Blakley, Tavistock spokeswoman.
That still leaves a large portion of Nemours Parkway yet to be built, for phases still unscheduled. Phase 6 of that plan would extend Nemours Parkway eastward to Narcoossee Road, via Weller Boulevard.
Phase 7 would connect the parkway from a stub at Granger Avenue on the east to its dead-end on the west, south of Nemours Children's Hospital. That phase would open up more than 500 acres of semi-landlocked property.
Two phases of Laureate Park are under construction now, including more than 100 townhomes being built by Pulte.
Tavistock also filed a Specific Parcel Master Plan (SPMP) with the City of Orlando in late August for the third phase of its Laureate Park Village Center, to eventually be developed as small neighborhood retail, directly west of the aquatic center.
Phase 1 of the Laureate Park Village Center has included buildout of an aquatic center, fitness facility, multipurpose room and Canvas restaurant.
A Phase 2 SPMP approved by the city last year included higher density residential for the village center, with Pulte townhomes and single-family lots along the waterfront.
Phase 3 will now include four future development tracts for commercial, office or civic use, 120 associated parking spaces and a private road.
Tavistock is submitting the SPMP now so infrastructure work can begin next year, but hasn't finalized plans for the four commercial tracts, each of which will require their own SPMP submittal.
The site has already been mass graded, and is currently used for agricultural purposes.
Phase 3 of the village center will be served by Tavistock Lakes Boulevard, and an internal street network.