Tavistock pays $15M for 200 acres along Orange-Osceola line in path of toll road

An affiliate of Tavistock Development Company paid $15 million on Wednesday for approximately 200 acres that span the Orange-Osceola county line, where development could be limited by a new toll road extension.

It lies roughly a mile southeast of the heart of Tavistock's master-planned Lake Nona community, and starts in Orange with 82.35 acres of pasture land on Clapp Simms Duda Road.

That parcel lies east of the Narcoossee and Boggy Creek roads intersection, south of the Eagle Creek development, and west of the 1,773-acre Split Oak Park Forest wildlife and environmental preserve area.  

About 117 acres directly south in Osceola County complete the deal. The property was part of a larger master-planned community by Standard Pacific Homes (now CalAtlantic Homes) known as "Springhead Lake," which was introduced five years ago.

Osceola County approved a preliminary subdivision plan in 2013 for that project's Phase 1 of 136 single-family homes. Nearly 170 acres were then bought by Standard Pacific in 2014 for $12.5 million, which lies directly south of the land that Tavistock's Springhead North LLC acquired.

CalAtlantic hasn't developed its land since, in part because the property lies in the proposed route of the future Osceola Parkway Extension toll road.

The property Tavistock acquired covers phases 3-5 of that project's conceptual plan, which in 2013 totaled 475 lots with widths of 25, 50 and 70 feet. 

It also lies adjacent to a canal that could give future residents boat access to lakes Hart and Mary Jane to the north, and to the south Lake Ajay and East Lake Tohopekaliga. 

But the land's new housing potential could be irrelevant, if Tavistock's purchase was a strategic move to help facilitate construction of the Osceola Parkway Extension toll road.

Officials with the company did not respond to requests for comment on Thursday.

The property is centrally located between two of Tavistock's major future developments: the 4,787-acre Sunbridge to the east and the 1,800-acre Poitras property to the west. 

The developer has been intimately involved in the past year with the Central Florida Expressway Authority in design of the toll road extension.

Tavistock could opt to donate right-of-way for the road or negotiate a favorable sale price to CFX, because extending the parkway benefits Poitras and Sunbridge.

The seller of the "Springhead North" land was a trust managed by Daryl M. Carter of Maury L. Carter & Associates. 

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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