A Gainesville-based real estate investment and development company has begun prepping the first phase of a project devised to transform hundreds of acres of pasture land into a dense residential subdivision that may accommodate nearly 1,200 homes once complete.
Located at 1214 Lewis Rd., the proposed project site stretches about 310 acres north of S.R. 44 and west side of C.R. 468. It was annexed by the city of Leesburg in 2005 and was rezoned this year to Planned Unit Development.
According to plans filed in the St. Johns River Water Management District, an investment team led by Michel Moukhtara is seeking an environmental resource permit and the authorization to use state-owned submerged lands for the first phase of the project, which consists of 307 single-family lots and 10 water retention areas.
The first phase is broken into two sections. The southeast section proposes the development of a 177 single-family lot subdivision, and the southwest section proposes the development of a 130 single-family lot subdivision.
The entire property is intended to hold about 1,200 home sites.
Records show entities A A Moukhtara Inc. and Tara Village Inc. have owned the multi-parcel property for more than thirty years. The cultivated land has a few buildings on site, most of which were built in the early 1900s.
It’s unclear if any builders have been selected yet for the project. Calls and emails sent to Michel and members in the development team were not immediately returned.
Springstead Engineering, Inc. is the civil engineer. The firm often works with A A Moukhtara on a number of residential subdivisions in Lake County, including the Glen subdivision currently under construction at 1339 Myrtle Lake Ave. in Fruitland Park.
Lake County in general has been benefiting off the westward growth of the neighboring Orange and Seminole counties.
Last month, GrowthSpotter reported on plans submitted by Clearwater developer CG Land Investments to create a 224-home residential subdivision between County Road 44 and Radio Road, north of Silver Lake.