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Elevation Development closes deal for 611 lots in East Narcoossee area

The Preston Cove master plan calls for 226 townhouse lots (brown) and 385 detached homesites on Jones Road, along with a pool and multiple parks and recreation areas.
The Preston Cove master plan calls for 226 townhouse lots (brown) and 385 detached homesites on Jones Road, along with a pool and multiple parks and recreation areas. (Elevation Development)

Orlando-based Elevation Development closed last week on the $13 million acquisition of 150 acres on the north side of Jones Road in Osceola County’s fast-growing East Narcoossee area.

Elevation took the assemblage through the rezoning and permitting process, securing approvals from the county for a 611-home subdivision called Preston Cove.

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Elevation Principal Owais Khanani told GrowthSpotter the firm has deals in place with Park Square Homes and Adams Homes for all of the lots.

Elevation Development enhanced the amenities for Preston Cove, adding a shade pavilion and fitness center to the pool, as well as a firepit and poolside cabana.
Elevation Development enhanced the amenities for Preston Cove, adding a shade pavilion and fitness center to the pool, as well as a firepit and poolside cabana. (Elevation Development)

“It’s fully engineered,” Khanani said. “We’re looking to break ground in the next few weeks.”

He said the project would be constructed over two phases, with Park Square taking all 226 townhouse lots and half of the remaining 385 detached single-family home lots. It’s expected that site contractor Jon M. Hall Co. would deliver the first 300 lots by December.

Preston Cove would include a north-south roadway connection to Wiregrass, a subdivision on Jack Brack Road now in development by four homebuilders, including Park Square Homes. It’s now the third community in the East Narcoossee area where Park Square is building townhomes.

Find out who Elevation Development is partnering up with in bringing a new 601-home subdivision on Osceola County's Jones Road.

Adams Homes currently has about a half-dozen active projects in Polk County and Poinciana, but this is its only subdivision in the St. Cloud market.

Khanani said Elevation has revamped the project to enhance the amenities. “We’re doing the full buildout of the amenities,” he said. “We’re doing a large pavilion and fitness center, a pool/cabana, multiple parks and tot lots throughout the community.”

The community also will feature pickleball and volleyball courts, jogging trails around the ponds and an equestrian trail that connects it to other communities in the East Narcoossee area.

Jones Road, which links Narcoossee to the massive Sunbridge community being developed by Tavistock, is rapidly transforming into a suburban corridor with now six communities and nearly 2,500 homesites in the pipeline.

The project would be directly across from Sunbrooke, a 349-home community now in development by Ashton Woods. It lies just east of The Crossings, owned by Highland Homes and approved for 640 homes.

Nearby, Highland and Ryan Homes are selling in Siena Reserve, while D.R. Horton is selling its new Live Modern product line in Summerly. Meritage Homes is in pre-sales for Silver Springs, also on Jones Road.

Meanwhile, David Weekley Homes is also planning its first Osceola County project in the East Narcoossee area. DWH is under contract for a 56-lot subdivision at the intersection of Oesterle and Zuni roads, north of Brack Ranch on Jack Brack Road. Orlando developer Kal Hussein worked with DWH’s Drew Abel to redesign the project to limit its impact on wetlands. The approved Preliminary Subdivision Plan calls for all 60-foot lots and expansive green space. Hussein said the deal is scheduled to close in June.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @byLauraKinsler. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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