Pulte paid $9.5 million last week for the 150-acres that Hanover has been taking through entitlements with Osceola County. The Cypress Hammocks project has an approved Preliminary Subdivision Plan and submitted Site Development Plan currently in review.
Hanover Vice President Matt Orosz told GrowthSpotter that Pulte would take over as primary developer and the two companies would divide the lots. They hope to break ground in the 4-6 weeks.
“Hanover will build the townhomes,” he said. “Pulte will take all the 50-foot lots, and we’re splitting the 40-foot lots. They’re entirely in charge of all the sitework and the amenities.”
Max Perlman, VP of land acquisition for Pulte, said the Cypress Hammocks would feature a resort-style pool with cabana, tot lot, sports fields and nature trails. The amenities will be delivered shortly after the first homeowners move into the community.
Pulte will control about 240 homesites and is still finalizing the lineup of home designs. Floorplans will be a mix of single-story and two-story homes ranging from 3-5 bedrooms and starting around 1,400 square feet up to 3,000 square feet.
Orosz said Hanover would offer 3- and 4-bedroom townhomes and at least five floorplans for the detached product, which will include single-story and 2-story homes.
The two homebuilders have worked together before. They are currently partnering on Ridgeview, a 152-acre planned unit development in Clermont.
Cypress Hammocks is about a half-mile from the Poinciana SunRail station and directly north of the site of a proposed Frito Lay distribution plant.
“The SunRail is sure to be appealing to buyers who work dowontown and wish to have a stress-free commute to work,” Perlman said. “As the system continues to build out, we believe the SunRail will only grow in popularity and usefulness throughout Central Florida.”
Tim Shirah of KV Land Group represented the seller, Frankie Brown Norris, a descendant of the late cattle rancher Oren Brown. Shirah is also working with the Brown family on the rezoning and entitlements for their remaining land assets on Poinciana Boulevard and Old Tampa Highway. Those parcels were excluded from the $11 million sale of the bulk of the Brown estate property to Disney in 2019.
The Pulte transaction was the second major closing in the immediate area within the last month. Osceola County paid $8.9 million in late February to buy the 82-acre property adjacent to the SunRail station with plans to develop affordable multifamily housing on a portion of it. That parcel is just southeast of Cypress Hammocks.
Pulte has several projects underway Osceola County. The builder is under contract for a 40-acre site just off Kissimmee’s W192 tourism corridor and plans to build a 286-unit townhome community. Pulte also has several resort communities in Osceola County’s Westside Boulevard area, and it’s building residential communities in St. Cloud and on Boggy Creek Road. The company’s active adult division is developing a Del Webb branded community in Sunbridge.