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Lennar is currently building the first three condo buildings in Terraces at Storey Lake. The next six buildings and a new pool and clubhouse are planned for the Phase 4A (outlined in red). The final five buildings are slated for Phase 4B.
Lennar is currently building the first three condo buildings in Terraces at Storey Lake. The next six buildings and a new pool and clubhouse are planned for the Phase 4A (outlined in red). The final five buildings are slated for Phase 4B. (Askey Hughey, Inc.)

Lennar Homes has begun prepping its fourth phase at Kissimmee's Storey Lake resort community, which is now one of Osceola County's fastest-growing developments.

Osceola County planning staff have already recommended approval for a Phase 4 Preliminary Subdivision Plan that calls for 297 condos to be constructed in two phases in Storey Lake. The PSP is on the Development Review Committee's consent agenda for Wednesday.

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Storey Lake, located at the intersection of Osceola Parkway and Vineland Road (S.R. 535), is approved for approximately 2,000 homes. The community offers a variety of housing products, including condos, townhomes, vacation homes and single-family homes. The clubhouse, which opened Memorial Day weekend, features a resort pool with lazy river, a splash park, sport courts and a miniature golf course.

Details on how Lennar might expand its successful Storey Lake community near Disney World.

The community added $51 million in new construction last year, making it the county's third fastest-growing development behind only Reunion and ChampionsGate.

Lennar is currently building the first 108 condos, dubbed The Terraces, in Phase 1B of the community. Each condo building is four stories tall and has 27 units. The Phase 4A plan expands the community with six more buildings and a private pool and cabana. The final five buildings would be added in Phase 4B.

Askey Hughey Inc. is civil engineer and planner for the project.

Lennar appears to be planning an expansion of the community. The builder has a contract to buy the adjacent 73-acre parcel from Westgate Resorts and could easily connect it via Storey Lake Boulevard.

Insight on how Reunion and ChampionsGate continue to drive growth in Osceola County.

That site was previously approved for a mix of hotels, timeshares and retail uses. The developers of an extreme sports tourist attraction had a contract to buy the site in 2015 but never closed the sale. Osceola County Commissioners voted Monday by consent to rezone the parcel from Planned Development to Commercial Tourist.

The developer could be eyeing a 197-acre tract southeast of Storey Lake. In early May, Lennar carved out right-of-way for future roads and ponds and transferred those tracts to the Shingle Creek CDD -- the entity that manages public assets for Storey Lake. Those roadways lead directly into the parcel owned by Osceola Development Trust. The parcel was a part of the former Osceola Trace DRI, which had extended to the Orange County line but has since been rescinded.

That DRI has been split up among multiple projects, including Intram Investments' Sunrise City on the northern tracts and Storey Lake. County Principal Engineer Jose Gomez told GrowthSpotter the road connectivity requirements were kept in place after the DRI rescission.

Officials at Lennar could not be reached for comment on Monday.

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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