An Orlando attorney-investor has acquired roughly 800 acres in Lake County, east of Eustis, that he is holding for development.
John K. Keating recently added another 65-acre chunk of contiguous land to an assemblage he is amassing, spending $656,106 to buy most of the G & R Ranch, which is on the north side of S.R. 44-A, west of Gatch Road.
"My general plan up there is for a residential development with some mixed-use elements," Keating told GrowthSpotter.
But don't look for construction soon. He says he probably will annex the land into Eustis first. Much of the rest of his portfolio has already been annexed, Keating said.
"The city a few years ago extended sewer and water lines out to there," he said.
"The bottom line is most of it is held as an investment. I think that Eustis wants to grow and that this will be a great corner stone for development," Keating continued. "I believe the time is becoming right in that area and Eustis supports responsible growth."
Keating, under LLC affiliate 44-44G, purchased the most recent addition from Monty R. Gatch Jr. and Pamela J. Gatch. The land had been in the Gatch family for years, and was transferred via quit claim deeds to various family members and entities. The family retained a small part of the land.
The deed to 44-44G was recorded Dec. 2. The Gatch family could not be reached for comment.