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CalAtlantic Group bought Phase 1 of Sunset Groves in the East Narcoossee community for $6.3 million.
CalAtlantic Group bought Phase 1 of Sunset Groves in the East Narcoossee community for $6.3 million. (Osceola County)

CalAtlantic Group continues to be bullish on St. Cloud. Last week the homebuilder paid $6.3 million for the 106-lot Phase 1 of Sunset Groves, part of an 84-acre subdivision on Zuni Road in the Narcoossee community.

The 288-lot development received site plan approval in 2014. Robert Godwin's EHRG Zuni Road LLC was the owner and master developer. Godwin is the former Orlando Division President of Standard Pacific, which merged with Ryland Homes to form CalAtlantic.

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

Godwin is currently president of Century Homes, which was partially acquired in 2016 by Tavistock Development Company. His company assembled nine parcels totaling 62 acres at the corner of Zuni and Cyril roads, which is under contract to Pulte Homes. That project has a pending site plan approval for a 197-lot subdivision.

CalAtlantic's Sunset Groves purchase includes 106 residential lots on 36 acres, with a mix of 50-foot and 60-foot lots. It was the second major acquisition by the builder in as many weeks. The company paid $11.2 million in late January to buy Phase 2 of Whaley's Creek, across from CalAtlantic's Esprit community, which is nearing buildout.

The homebuilder is about to run out of lots in the Narcoossee corridor, so it scored two more projects with entitlements in place. 

CalAtlantic is actively building in two other St. Cloud area communities: Harmony and Lancaster Park East.

Officials with the company declined to comment on Monday, because the corporation is in an SEC quiet period leading up to its Fourth Quarter 2016 earnings report this week.

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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