Pulte to buy 25-acre parcel near East Lake Toho from Osceola Schools

The School District of Osceola County is expected to sell 25 acres of surplus land in St. Cloud to Pulte Homes for $1.53 million. 

The land is one of three parcels the district offered for sale as a competitive bid process in April, but lack of interest forced the district to extend the bid deadline twice.

The district set a minimum bid price of $1.4 million for the lot, and Pulte was the sole bidder. The property is next to Lakeview Elementary and just a block from East Lake Tohopekaliga. The parcel is surrounded on two sides by Sugar Mill, a 55-plus mobile home community. 

Christopher Cleary, Pulte's director of land acquisition, told GrowthSpotter the company would build single-family homes on 62.5-foot lots to comply with St. Cloud's zoning requirements for low-density residential.

"We looked at all three properties, but this one was our favorite," he said. "It's almost an infill piece. It's close to retail, and it's close enough to downtown that you could walk there. I'm surprised we were the only bidder." 

Pulte is actively selling in multiple St. Cloud communities, including Whaley's Creek, where it relaunched its Centex brand in 2016.

The City of St. Cloud submitted the high bid of $200,000 for the old "Cannery" site on Virginia Avenue between 9th and 10th streets. It's just under 1 acre, and once housed a historic school house and  depression-era cannery that students converted into a museum in the 1990s.

City Spokeswoman Krystal Diaz said council members have discussed building a park on the site, which is vacant except for an 1,808-square-foot concrete block building that was built in 1955. 

There were no bids for the third parcel, a 19-acre site on Pine Tree Drive. The property abuts the final phase of Covington Estates, which was sold recently to M/I Homes and rebranded as Reserve at Pine Tree.

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

Copyright © 2018, GrowthSpotter
65°