The management company behind the booming Cagan Crossings multifamily development in the Four Corners area of Lake County is getting into the detached single-family housing game, with plans for a 323-lot subdivision across U.S. Highway 27 from the apartment village.
The residential subdivision, which will also carry the Cagan Crossings banner, will sit on 149 acres tucked behind a Wal-Mart Supercenter and Lowe's Home Improvement Center accessible by Cagan Crossings Boulevard.
"Right now, there will be single-family on the east and multifamily on the west," said Sandra Cagan, senior vice president of the Cagan Management Group. The company may include multifamily projects east of Highway 27 in the future, she said – "we do still have room there" -- but single-family detached homes "is our intention right now."
The homes will be on 40-by-121 or 50-by-121 foot lots, according to a preliminary plat. The neighborhood winds around two ponds and 58 acres of wetlands.
Meritage Homes is the developer and builder. Adam Schott, the company's director of land acquisition, said the company is still completing civil engineering plans for the site and home sizes and pricing are to be determined.
Meritage is already involved in 22 communities in the Orlando area; 18 in the Tampa area; three in South Florida; and in eight other states.
Cagan Management began developing the apartment village on the west side of Highway 27 in 1998. It now boasts four separate complexes – Aurora, Ridgepoint, The Lofts and The Glen – and ground was just broken on a fifth, Orchard, an active 55-and-older community. Cagan Crossing now has about 1,700 units, and Orchard will bring 152 more.
The existing apartment units are sold out and there is a wait list for tenants.
The complex features a walkable, 56,000-square-foot Town Center with restaurants, shops and services and a community library.
Among the Town Center attractions is the Orlando Cat Café, a partnership of Cagan Management, SPCA Florida and Axum Coffee that features free-roaming, adoptable cats on site. Since its opening in 2016, the café has logged 50,000 visits and found homes for 440 cats. "It's quite the draw for our locals and tourists alike," Sandra Cagan said.
Future homeowners on the east side of Highway 27 will also have easy access to those amenities.
The subdivision will be built in three phases, and Cagan said construction could begin within the next six months. A preliminary plat has been filed with Lake County, and the project's engineer, Madden, Moorhead and Stokes of Maitland, recently filed for necessary environmental permits. The surveyor is Allen & Co. of Winter Garden.
Cagan said she is confident the Cagan Crossings single-family subdivision will enjoy the same success as the apartment village.
"We haven't been wrong yet," she said. "There's a continuing demand along the I-4 corridor between Tampa and Orlando. The area keeps growing."