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Emerson International pays $4.7 million to expand active adult community

Emerson International pays $4.7 million to expand active adult community
Emerson Internationa, and its homebuilder Jones Homes, aqcuired a 66-acre parcel next to Twin Lakes that is already permitted for more than 200 homes.

Emerson International and its homebuilder Jones Homes USA paid $4.7 million last week to buy a 66-acre parcel adjacent to its new active adult community, Twin Lakes.

The land, located on Hickory Tree Road, south of U.S. 192 near St. Cloud, is already permitted for 211 homes. The seller, JTD Land at Lakeside, bought the parcel in 2013 along with another 35 acres on Live Oak Lake for $6.7 million. It was one of more than a dozen real estate investments by James Davis and Craig Harris, president and business manager of Kissimmee-based road contractor Jr. Davis Construction.

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Davis and Harris previously sold the first 35 acres to the developer for $7 million. It will be the site of Twin Lakes' 20,000-square-foot lakefront amenity center.

Scott Sterns with Jones Homes told GrowthSpotter earlier this month the builder was planning to acquire the rest of the JTD property. The developer had already paid $28.5 million assembling the 538 acres for Twin Lakes.

The community is approved for 737 homes, and construction is underway on the first phase, which includes 223 home sites. A new sales center will open on site in January, and models will be completed by April.

Last month, Osceola County's Development Review Committee approved the preliminary subdivision plan for the community's second phase, which includes another 382 homes - single family and duplexes - on 140 acres.

Jones Homes is a subsidiary of The Emerson Group, developer of Eagle Creek.

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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