Orlando based developer and homebuilder Hanover Capital Partners is expanding its footprint in the St. Cloud market with plans for a new residential subdivision across from Lake Lizzie.
Hanover paid $2.86 million this week for three contiguous parcels on Pine Grove Road totaling about 72 acres, and the developer filed a rezoning application Thursday to convert the agricultural land to Low Density Residential zoning. That zoning classification in Osceola County requires a minimum density of 3 dwelling units per acre.
Ben Synder, Hanover’s VP of Land, said the company is targeting a plan to create subdivision plan with a density slightly over 4 units per acre, which would put the number of lots in the low 300s.
Conceptual designs call for three lot sizes and product types, to comply with Osceola County’s subdivision standards. Those would include standard front-entry homes on 50-foot lots, side-entry homes on 70-foot-wide corner lots and rear-alley entry detached homes on 34-foot lots.
“The homes we’ll offer on the 50s and 70s will be similar to what we’re building now in Hanover Lakes and Wiregrass,” Snyder said. “The 34-foot lot is something we don’t currently offer in any of our communities, so that would be one we’d have to develop a new product for.”
The community would feature a pool-cabana-tot lot amenity that comes standard in most Hanover neighborhoods. “We see it as kind of a move-up level neighborhood,” Snyder said. “There won’t be any townhomes.”
Hanover typically partners with other homebuilders, such as Lennar at Hanover Lakes and Pulte at Wiregrass. “We would be open to partnering with another builder on this project if we could get a trade position with them,” Snyder said.
The property shares a northern boundary with Pine Grove Reserve, a proposed 315-lot subdivision that won county approval this summer only after the property owner Randy Larson went through a formal appeal and mediation with the county. D.R. Horton was previously named as the developer but is no longer involved and declined to comment on the project.
County Commissioners had initially denied the Preliminary Subdivision Plan because it abutted an existing community with larger lots. Larson expanded the size of the lots that back up to those homes on Ed Harris Court to 104 feet.
The Hanover property abuts the same community, but Snyder said they would address the compatibility issue differently.
“We’re not going to do larger lots, but we’ve provided a larger buffer that’s consistent with the other project,” Snyder said. “We tried to orient our subdivision to where it would have more open space and HOA common space adjacent to the larger-lot subdivision.”
Also north of the project is a 131-acre parcel on Nova Road that was identified by the School District of Osceola County as a future bus depot and high school site.
Homebuilders usually prefer to wait until zoning and subdivision plans are in place before pulling the trigger on a major land purchase, but Snyder said the company wanted to close more quickly and offered cash to make it happen.
The seller was Preston Tyson, who still owns more land along Pine Grove Road, east of the Pine Grove Reserve project and on Lake Lizzie.
Snyder said the initial concept does not include a direct road connection to Pine Grove Reserve, but Hanover is seeking to connect to an existing reclaimed water main on Nova Road through that community rather than extending the service along Pine Grove Road.
Hanson Walter & Associates is the civil engineer and assisting with the rezoning application.