National homebuilder Lennar and Clermont-based Leading Edge Custom Homes are teaming up with Hanover Capital Partners on its roughly 420-acre residential community in Groveland.
The partners are commencing the first two of six phases that, once completed, will feature about 1,150 new single-family homes on both sides of where Lake Emma Road meets S.R. 19.
In total, the first two phases consist of about 425 homes. According to a deed recorded in Lake County earlier this week, Lennar paid nearly $15.8 million for 329 lots.
Hanover spent a total of two years and $8 million assembling the land. Knight Engineering Services is the contracted engineer.
The residential community, dubbed Trinity lakes, stretches from the northeastern shore of Lake Lucy to just south of Maryland Avenue on land pinched between Lake Desire and Lake Spencer.
Hanover’s vice president Ben Snyder told GrowthSpotter the firm wants Trinity Lakes to be an upscale community that competes with the likes of those closer to Orlando.
Planned amenities include a multimillion-dollar clubhouse with a fitness center, community room, secondary pool complex and outdoor recreational space for athletics.
More than 30 percent of the community’s 420 acres are devoted to green space, lakes and playing fields.
“It’s consistent with new development within the city and consistent with Groveland’s vision for that corridor up to Florida’s Turnpike,” he said.
Home prices are expected to start in the low $200,000′s, with a limited number of lakefront custom homes starting in the $400,000′s.
The master plan for Trinity Lakes features 40-, 50- and 60-foot lots, plus some 75-foot homesites along the lakes that feature docks. Model homes are expected to be built near Lake Lucy.
Lennar has partnered with Hanover before.
The two worked together at Hanover’s Hanover Lakes subdivision on Alligator Lake in Osceola County. In September, GrowthSpotter reported Lennar had paid $1.5 million for a takedown that included two model homesites and another 17 lots within the community.
The subdivision was approved for 543 homes on a mix of 50-foot and 60-foot lots.
In Groveland, Lennar is near completing a 124-unit residential subdivision called Groveland at Waterside Estates on Cherry Lake. The community on Cherry Valley Trail will consist of homes that sit on 50- and 70-foot lots.
Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.