FHC Development will more than double the size of its proposed Deer Run Estates subdivision south of St. Cloud this year when the developer closes on a 34-acre parcel fronting Hickory Tree Road, CEO Frank Cawthon told GrowthSpotter.
The parcel is directly across from a planned 545-home Buena Lago subdivision on Alligator Lake. FHC helped entitle it and had the property under contract, but didn't close on it.
Cawthon said he bought the 21-acre parcel across the street, at the intersection of Deer Run and Hickory Tree about two years ago, while he was still in permitting for Buena Lago. He now has a contract to buy the adjacent parcel, expanding the project to 55 acres.
"I own half of it, so now I'm buying the second half," he said Friday. "I'm just playing off of all the other growth that continues to come down Narcoossee Road south. The whole corridor is blowing up."
Narcoossee Road becomes Hickory Tree Road when it crosses U.S. 192. A number of large, master-planned communities are taking shape along the Hickory Tree corridor, including a huge active adult community, Twin Lakes.
Hanover Capital Partners is awaiting a final permit from the US Army Corps of Engineers to break ground on Hanover Lakes, another boating community approved for more than 600 homes on Alligator Lake. And Tramell Webb Partners is prepping a new 149-lot subdivision on the west side of Hickory Tree Road.
"They're going to be running utilities down Hickory Tree for all these other projects, so it will be a lot easier to connect," Cawthon said. "I think this is really an up-and-coming area."
The site was rezoned in 2015 to Low Density Residential. Deer Run Estates would likely max out at about 195 homes -- all on 50-foot lots. Cawthon has a conceptual plan prepared by Askey Hughey, but the number of lots could change based a new wetland determination from South Florida Water Management District.