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Hanover Capital Partners planning two new subdivisions in Osceola this year

Hanover Capital Parnters LLC wants to start development by the end of the year on Vista Lakes, a 556-lot subdivision with boat lift connecting it to Alligator Lake.
Hanover Capital Parnters LLC wants to start development by the end of the year on Vista Lakes, a 556-lot subdivision with boat lift connecting it to Alligator Lake. (Osceola County)

Winter Park-based Hanover Capital Partners is moving forward with two new subdivisions in Osceola County this year.

The developer is under contract to buy 178 acres on Alligator Lake, and a 48.6-acre parcel on Ham Brown Road in Poinciana.

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The first parcel, located on Hickory Tree Road, has already received preliminary approval from Osceola County for a 556-lot subdivision with a massive internal canal system, and boat lift giving residents direct access to Alligator Lake.

Vista Lakes, shown in blue, is one of two boating communities planned on Alligator Lake. Both neighborhoods would be build with internal canals and boat lifts to access the main lake.
Vista Lakes, shown in blue, is one of two boating communities planned on Alligator Lake. Both neighborhoods would be build with internal canals and boat lifts to access the main lake. (Osceola County)

Vista Lakes will be divided into five phases, according to the plans. Ben Snyder, vice president of land for HCP, told GrowthSpotter on Tuesday the canal system would be built during the first phase, along with the boat lift and the first 130 lots.

"We're still going through engineering and permitting, but we hope to start construction by the end of the year," he said.

Homes in Vista Lakes will start in the high $200,000 range for internal lots. The 300 lots with direct canal access will start in the low $300,000s and top out in the low $400,000s.

"We're going to have an amenity center with a pool cabana, tot lot, and splash pads at shallow end of pool," he said.

Vista Lakes will be similar to AV Homes' popular Bellalago community, which has inspired a number of other boating communities in various stages of development.

Buena Lago, on the southern tip of Alligator Lake, is slated for 545 homes also built around a private boat lift lake. Lake Gentry Landings, located just south of Mildred Bass Road, is entitled for 700 homes, including 52 lots with direct access to Lake Gentry and 149 single-family home lots with shared docks on the lagoon.

Pulte Homes had attempted a similar project on East Lake Tohopekaliga, but pulled the plug last month when it couldn't close on the property.

Hanover Capital Partners is planning a 202-lot subdivision on Ham Brown Road at Poinciana Boulevard.
Hanover Capital Partners is planning a 202-lot subdivision on Ham Brown Road at Poinciana Boulevard. (Osceola County)

Snyder said the Poinciana property is also under contract, and scheduled to close when permits are issued. That project, also slated for construction by the end of the year, is slated for 202 lots on 50-foot lots. The neighborhood will have a pool, cabana and tot lot.

Askey Hughey Inc. has filed construction plans for the property with SFWMD. The 48-acre parcel is used as pastrure land but was rezoned to low density residential last month.
Askey Hughey Inc. has filed construction plans for the property with SFWMD. The 48-acre parcel is used as pastrure land but was rezoned to low density residential last month. (SFWMD)

Hanover has not selected a name yet for the community, which is just north of a new AV Homes subdivision also in the early permitting stage. Snyder said the target market will be entry-level and first-time move-up buyers.

"The average sale price will be in the mid-$200,000s," he said. "We hope to be open for sales by the end of 2017."

Askey Hughey is the civil engineer. Hanover has not selected builders for either project yet.

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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