Clearwater developer Mike Galvin will seek approval from Polk County's Development Review Committee next month for a 95-lot subdivision in the Four Corners area, just south of Reunion Resort.
Galvin and business partner R. Tom Chapman's Tanglewood Land Investments snatched up the 125 acres of mostly wetland property from Standard Pacific (now CalAtlantic) two years ago for less than $200,000. This summer, after receiving approval for their construction plans, the two sold the property to another of their affiliate companies for $1.675 million.
"We're going to take it through the horizontal construction, then we're selling the finished lots to D.R. Horton," Galvin told GrowthSpotter on Wednesday. "We're about 60 percent through the sitework. We've got the water and sewer in, and we're about to cut the roads. It should be finished in February."
The construction plans called for 95 lots to be built on 23.5 upland acres of the site. The project engineers from Poulos & Bennett filed a preliminary plat for 89 lots, but Galvin said they are revising the PD and would file an amended plat for 95 lots.
The Southwest Florida Water Management District issued a permit for the project on Nov. 21.
Tanglewood Preserve is located on Osceola-Polk County and extends south to Old Lake Wilson Road. It's just east of Lake Wilson Preserve, a 92-acre mixed-use project that's fully permitted by FHC Development, and approved for 116,228 square feet of commercial and 347 townhomes and apartments.
Across the county line in Reunion, vacation home specialist Feltrim Grouphas received approval from Osceola County for an 88-unit luxury condo project called Crescent at Reunion Resort & Club.
Chapman and Galvin have partnered on dozens of real estate investments in the Tampa Bay market and in Central Florida through their CG Land Development Company,and through affiliate companies.
Galvin said the company has hundreds of residential lots in development just in the Four Corners area. That includes Verano, a 101-lot subdivision on U.S. 27 across from ChampionsGate, which is under contract to Holiday Builders.
The company kicked off horizontal construction over the summer on a 41-acre parcel on the north side of Dunson Road, just east of U.S. 27 in Davenport. CG is developing a 166-lot subdivision there.