With horizontal construction well underway at Osceola County's new active adult community The Lakes at Harmony, master developer Starwood Land Ventures has sold the first 43 lots to CalAtlantic Group for $2 million.
CalAtlantic, the Irvine, California-based corporation formed by the 2015 merger of Ryland and Standard Pacific, paid about $47,000 per lot.
"It's an exclusive contract," SLV Vice President Bob Glantz told GrowthSpotter on Tuesday. "This was the first takedown. They're going to be buying lots from us for the next several years."
Harmony, an 11,000-acre community on U.S. 192 southeast of St. Cloud, is a green-certified development featuring its own golf course and marina on Buck Lake. The development is approved for more than 7,000 homes, and Glance said it has traditionally catered to the family buyer.
"We looked at amenities already in place and came to a conclusion that it was a perfect fit for an active adult, retiree buyer," he said. "They also liked the services and convenience shopping we offer."
The Lakes at Harmony will have 410 lots divided among four neighborhoods, all located in the community's eastern segment, along the 13th and 14th hole and adjacent to Cat Lake.
The gated, age-restricted neighborhoods will have their own private pool, bocce ball and paddle-ball courts, dog park, sunset gazebo and 3,000-square-foot clubhouse.
"All of the residents of The Lakes will have a membership to the golf course and country club," Glantz said. "The sunset gazebo overlooks the golf course, and we're going to host a happy hour out there a few days a week."
The Lakes will also have a separate homeowners association and activities director. The first neighborhood, South Lake, is approved for 172 lots. CalAtlantic spokeswoman Danielle Tocco said the builder will break ground on six models in February.
Home prices start at $190,000 and top out in the low $300,000 range.
The Lakes at Harmony is one of several new active adult communities in development in Osceola County. Jones Homes USA is currently building Twin Lakes, a 737-home community on Live Oak Lake; and K. Hovnanian Homes recently announced it would add a Four Seasons community to Mystic Dunes Resort.
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.