Park Square Homes paid $5.6 million this week for Arbor Park, the largest of three land deals closing this month in Lake County.
The community is located just off U.S. 27 at Dr. Martin Luther King Jr. Boulevard in Fruitland Park.
The Orlando-based homebuilder plans to start construction this spring on the 156-acre site on the subdivision, which is approved for 509 single-family homes, and open sales in early 2023. The builder worked with developer Khaled Hussein to entitle the site, which already had PUD zoning last year when it went under contract.
They engaged BESH-Halff engineering to design the subdivision with all detached homes on 50-foot, 60-foot and 70-foot lots. Amenities planned for Arbor Park include a resort-style clubhouse with catering kitchen, pool, playgrounds, dog park and walking trails.
Over in Tavares, Park Square started development in February on Phase 1 of Leela Reserve. The homebuilder purchased the first 69 lots in July 2021 within the former ShantiNiketan retirement community, just southwest of the Publix-anchored Tavares Crossroads shopping center.
Iggy Ignatius, the founder of ShantiNiketan, had planned an international retirement village with some 800 condos, where each neighborhood would cater to a specific culture. He completed about 50 condo townhomes and a restaurant/cultural center for the Indian section, but the project stalled.
Park Square redesigned the 100 acres into a residential subdivision with a total of 362 homes and townhomes. The builder expects to close on the remaining 293 lots within the next 30 days. Amenities within the subdivision include a cabana, pool, playground and dog park.
Nearby, Richmond American Homes recently paid $2.4 million to close on the land for 80 future homesites in Mascotte. The community sits on 18.7 acres near State Road 33 and Florida’s Turnpike. It will be known as Seasons at the Grove and will offer six floorplans from the builder’s trademarked Seasons product line.
Homesites at Seasons at The Grove will be a minimum of 50′ x 110′ wide and homes will range in size from approximately 1,720 to 3,040 square feet. Amenities will include a tot lot and open space. Richmond American, a subsidiary of MDC Holdings, offers complimentary design services to all new home buyers at the builder’s home gallery design studio.
Construction is on hold while the builder seeks environmental permits for gopher tortoise relocation.