Sun Terra Communities sold Phase 3 (gold)  of Whaley's Creek last week to Pulte Homes and CalAtlantic Group. The 499-home subdivision in St. Cloud also includes an 11-acre commercial tract on Canoe Creek Road.
Sun Terra Communities sold Phase 3 (gold)  of Whaley's Creek last week to Pulte Homes and CalAtlantic Group. The 499-home subdivision in St. Cloud also includes an 11-acre commercial tract on Canoe Creek Road. (Sun Terra Communities)

Pulte Homes and CalAtlantic Group paid $4.46 million last week for the third phase of Whaley's Creek, a subdivision in St. Cloud where both builders are actively selling homes now.

Developer and land banker Sun Terra Communities sold a 50 percent interest to each builder for Phase 3 of the 499-home community on Canoe Creek Road. It comprises 114 lots on 42 acres.

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Pulte had previously purchased Phase 1 (169 lots) in March 2016 and relaunched its Centex brand there. Later that year, Sun Terra sold Phase 2 to CalAtlantic (216 lots) for $11.2 million.

Clint Ball, Orlando division president for Pulte, said Tuesday the community's pool and clubhouse should open in the next few months. The builder offers six floorplans at Whaley's Creek, starting at $234,000.

"Phase 1 has been a great success, and we have less than five lots remaining from our original 169 lots," he told GrowthSpotter.

CalAtlantic pays $11.2M to expand position in St. Cloud at Whaley's Creek

Find out what the national homebuilder has planned across the street from its popular Esprit community.

Ball said Centex and CalAtlantic will work jointly to install roads and utilities in Phase 3, and they will each own 57 lots.

"Centex will immediately begin selling our lots in Phase 3 as we complete development, and the first closings from that phase will come in the fall of 2018," Ball said.

CalAtlantic currently offers nine floorplans at Whaley's Creek, starting at $335,000.

The Whaley's Creek Master Plan also shows a fourth phase on an 11-acre parcel just south of the main entrance, fronting on Canoe Creek Road. That property is still owned by long-time cattle rancher Larry Whaley, who sold the other 235 acres to Sun Terra in 2013.

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

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