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Lennar Homes pays $20.7M for first half of Wellness Way project

Lennar Homes is the contracted buyer for all 1,850 single-family homesites in the Wellness Way PUD in Clermont. The homebuilder paid $20.7 million this week for the first half of the project.
Lennar Homes is the contracted buyer for all 1,850 single-family homesites in the Wellness Way PUD in Clermont. The homebuilder paid $20.7 million this week for the first half of the project. (HDSI/VHB)

Lennar Homes closed this week on the first takedown for the Wellness Way master-planned community, which comprised a little over half of the approved 1,850 single-family home lots in the Clermont mixed-use district.

Seller Jim Karr said Lennar paid $20.7 million for the entitled land and is expected to close on the balance of the project in two years. Karr said his company would keep all of the land west of Hancock Road, which is entitled for commercial, multifamily and employment use.

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“Lennar is going to be putting in Wellness Way and bringing utilities down from Clermont,” Karr said. The builder also will extend Hancock Road from Hartwood Marsh south to Wellness Way. “This is the first step of a network that will be built with roads and utilities,” he said.

Karr said he spent years negotiating with neighboring property owners and swapping land so that he could acquire all of the necessary right-of-way, which will be donated to the county in exchange for impact fee credits.

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Lennar Orlando Division President Brock Nicholas said the company will start mass grading fairly soon, but the horizontal site work and utility work will take at least a year.

The votes clear the way for new apartments, commercial uses and a hotel to be built along U.S. 27 in the Wellness Way area.

“The first home starts won’t occur until September of next year, at the earliest,” he told GrowthSpotter. The first take includes 966 homesites.

The residential portion of the community east of Hancock is approved only for detached single-family homes and townhomes. The lot widths range from 18 feet wide for the townhomes up to 70 feet wide for the detached single-family homes.

“We’ll have six different housing products: street-loaded townhomes with single car garage; alley-loaded townhomes with double garage; cottage homes and manor homes that are alley-loaded, and estates and executive homes that are street-loaded,” he said. “There will be innovative features incorporated into the community, as the area suggests.”

The homebuilder’s Next Gen floorplans will also be available in the community. They are designed to appeal to multi-generational buyers by incoprorating a guest suite with a separate entrance, living area and kitchenette, within the house.

All of the homes will offer Lennar’s “Everything’s Included” package, which includes smart home technology, upgraded finishes and energy-efficient features. But designs and pricing won’t be released until next year, at the earliest.

The PUD identifies a 10-acre amenity site on Wellness Way, as well as numerous public and private parks. It also reserves 15 acres for a future charter school and 1.5 acres for a new fire station.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @byLauraKinsler. Follow GrowthSpotter on FacebookTwitter and LinkedIn.

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