Richmond American Homes continues to invest in St. Cloud, one of the fastest-growing towns in the nation.
The homebuilder paid $5.17 million for about 103 acres along Nolte Road in St. Cloud, according to a deed recently filed in Osceola County.
The property, which is entitled for 313 lots, will be known as Seasons at Southern Pines. The land it purchased sits south of Nolte Road, between Michigan Avenue and Old Hickory Tree Road.
Irvine, California-based Richland Communities is the seller. The company has been working on prepping this portion of its Southern Pine subdivision for development since 2016. It will partnering with RAH to develop the property.
Richland Communities and still owns about 155 home lots in the area that it intends to sell to another homebuilder. Details like the price range and floor plans are still in the works, according to an online brochure.
Representatives at both companies were not immediately available to comment.
RAH, a subsidiary of Denver, Colorado-based M.D.C. Holdings, purchased 128 homesites in Leesburg last month for its planned Spring Creek residential community.