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Royal Oak Homes buys Parkfield project in St. Cloud for $3.5M

Royal Oak Homes paid $3.5 million last week for the approved 149-lot subdivision, Parkfield, on Hickory Tree Road in St. Cloud.
Royal Oak Homes paid $3.5 million last week for the approved 149-lot subdivision, Parkfield, on Hickory Tree Road in St. Cloud. (staff)

Tramell Webb Partners recently sold its interest in Parkfield, an approved 39-acre subdivision on Hickory Tree Road, to a division of Arizona-based AV Homes.

Royal Oak Homes paid $3.48 million on April 19 for the 149-lot subdivision, according to a deed posted Monday in Osceola County.

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Parkfield is on the west side of Hickory Tree, adjacent to KB Homes' Gramercy Farms community and about a half-mile south of Jones Homes' huge active adult community, Twin Lakes. The controversial Hanover Lakes project is across Hickory Tree Road, on Alligator Lake.

Tramell Webb Partners received the site plan approval and oversaw the annexation into the City of St. Cloud for Parkland, a 149-lot subdivision on Hickory Tree Road.
Tramell Webb Partners received the site plan approval and oversaw the annexation into the City of St. Cloud for Parkland, a 149-lot subdivision on Hickory Tree Road. (City of St. Cloud)

The project was approved in January by Osceola County and was subsequently annexed by St. Cloud. The community is divided into three phases with 82 lots planned for Phase 1 to be followed by 32 and later 36 lots.

Amenities include a community pool, clubhouse, playground and trail network. Dewberry was the project engineer during the permitting phase.

Royal Oak has multiple active projects in Osceola County now, including Hanover Reserve on Zuni Road. In February, Royal Oak paid $1.33 million for the remaining lot inventory in Magic Landings, just off E192 between Kissimmee and St. Cloud.

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.

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