The developer of the Palms at Serenoa active-adult community is moving forward with plans for two new phases of construction, adding 276 residential lots for larger homes at the far southeastern corner of Lake County.
D.R. Horton announced the Palms project in late 2018. Earlier this month, the company filed for environmental permits for what at this point is being billed as “Serenoa Active Adult Parcels 3 & 4,” which would take the development eastward directly to the Lake-Orange county line. The community is on the west side of Sawgrass Bay Boulevard about a mile and a half east of U.S. Highway 27.
“We’ve had super-strong demand in our first phases, so this is really just a continuation to meet that demand,” Jim Harvey, president of Kolter Land, told GrowthSpotter.
Kolter is the master developer of the 987-acre Serenoa community, which is entitled for 1,600 homes. Commercial and apartment parcels will also be developed. Horton’s majority-owned subsidiary, Forestar Group Inc., paid $6.6 million in 2018 for the first two phases of the community. Phases 3 and 4 have not transacted yet.
The new phases will offer a combination of 40- and 50-foot lots, as well as 34 paired home lots for attached villas, according to the approved plans.
Early construction included a 5,000-square-foot clubhouse with activity rooms, a fitness center and yoga studio. Outdoor amenities include a resort-style pool, pickleball courts and a dog park.
As part of the development plans, Kolter will extend Sawgrass Bay Boulevard east to Avalon Road in Orange County, where it will join up with Disney’s westward extension of Western Way.
Harvey said Kolter is also adding 305 lots to the non-age restricted section of the community. Those sections will yield 40-, 50- and 60-foot lots for homes ranging from 1,700 to 3,500 square feet. They will sell from the low $300,000s to $500,000, Harvey said, noting that this is a higher-end market than the earlier phases of Serenoa.
Horizontal construction is expected to begin in the first quarter of 2020, but Kolter has not selected a builder or builders, Harvey said.