Zenodro Homes is nearly complete planning what would be its fourth vacation home community within its 145-acre foothold in the Four Corners area of Lake County.
President and founder Lusant Ordonez told GrowthSpotter the first three neighborhoods, including the 136-unit Serenity vacation townhome community on 40 acres; the 88-unit Retreat vacation home community on 20 acres; and the 132-unit Hidden Forest vacation townhome community on 30 acres, have all sold out.
Construction began around 2015, but international events like Brazil’s economic crisis, Brexit and more recently, the pandemic and the 2020 oil crisis, temporarily slowed progress on overall plans, Ordonez said. But sales bounced back quickly this year.
The Hidden Forest townhome community sold its last unit earlier this week. In addition, about 20 people were put on a waitlist who are interested in purchasing future vacation townhomes with Zenodro, he said.
“Whereas we used to be 99.9% foreign buyers, now we’re seeing a 90%-10% split,” Ordonez said. International investors still purchase a majority of their vacation homes, he said.
Zenodro’s latest community in the Four Corners area is called Tranquility and will consist of 112 vacation townhomes, once complete. Features include a tennis court and community clubhouse with a gym, game room and resort-style pool and spa area.
Wicks Engineering Services is the civil engineer.
The community sits on about 25 acres on the southwest corner of Tranquil Avenue and Serenidad Boulevard and is the fourth installment of vacation homes planned in the area by Zenodro Homes.
Ordonez said the preliminary plat and construction approvals for Tranquility are being finalized. He said he hopes to break ground on the two-story townhomes by the first quarter of next year.
Following the construction of Tranquility, the developer is planning to build two more vacation rental communities: Sunrise Point and Hidden Lakes. Entitlements on the 145 acres allow the Zenodro to add a little over 300 lots, including those within its planned Tranquility community. Each community will feature its own clubhouse, he adds.
Zenodro Homes took control of the 145 acres, located east of the intersection between C.R. 474 and U.S. Hwy 21, around 2008.
In 2017, GrowthSpotter reported Ordonez appointed world-renowned architect Carlos Ott to design the vacation homes.
Ordonez said townhomes in Hidden Forest had a base price of about $439,900.
“Our philosophy is to have the best in class product,” Ordonez said. “We really take time to build these homes because we know some buyers are putting their lifesaving into them. We always take that into account.”