Orlando developer Khaled Hussein has lined up more deals in Osceola County and enlisted Park Square Homes to build new townhomes just across from Buenaventura Lakes.
“We like the location because it’s close to retail and close to Simpson Road,” Hussein said. “We’re doing townhomes because it allows us to offer a good, competitively priced product.”
Hussein’s Bavaria LLC will be applying to rezone the 13.5 acres on Hilliard Isle Road, just east of Simpson Road, to Low Density Residential. The land previously was approved in 2008 for a Planned Development that would have allowed for 64 courthouse homes built in clusters of four homes per court, but that PD has expired.
Park Square Homes plans to build 113 townhomes. Hussein said they’re working with civil engineer Shawn Hindle from Hanson Walter & Associates to create site plan that meets the county’s subdivision rules, which means they must include three product types. Hussein said the community would include Park Square’s front-loaded and read-loaded townhomes, plus a third type that would front on the mew and recreation area south of an existing pond.
This would be the third Osceola townhouse community the developer and homebuilder partnered on — they have two projects in the works on Jack Brack Road. Park Square also has new townhouse communities planned in Ocoee and at Horizon West.
Hussein also has a purchase contract and will be applying to rezone approximately 14 acres on Jones Road, across from the Sunbrooke community now in development by Ashton Woods. The property, composed of two parcels, abuts a proposed 142-acre subdivision called The Crossings to the west and north.
The property on Jones Road is a commercial nursery. Hussein said the owner of the second parcel on Gerry Court wants to stay in his home, so the townhouse community would be designed with a carve out for his property. The site would yield about 110 townhomes. There is no builder attached to the project.
Nearby, developer Bill Canty is also seeking entitlements to build townhomes on 34 acres on the south side of Jones Road, between Sunbrooke and D.R. Horton’s Summerly community.
Hussein secured the entitlements for The Crossings in July and sold it to Highland Homes in October for $14 million. Now Highland is seeking to update the subdivision plan to gain about 170 more dwelling units. The previous plan was approved for 442 detached single family homes, which barely met the minimum density standards for LDR zoning.
Highland Homes submitted a new Preliminary Subdivision Plan on Dec. 7 for a more compact community with 456 detached single family homes and 158 rear-loaded townhomes. The new plan also introduces a rear-loaded bungalow product, which will be offered on 32-foot lots.
Highland Homes is also actively building in the Siena Reserve, less than a half mile east of The Crossings. The homebuilder is working with Hussein to expand that community by acquiring 20 acres immediately to the north of the approved subdivision. The builder applied to rezone the property from Agricultural Conservation to LDR in November. Hussein said the additional acreage would allow the builder to create a third phase with about 60 more home lots.
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.