Taylor Morrison looking to convert planned Poinciana industrial park to residential
By J. Kyle Foster
Aug 21, 2020 at 3:34 PM
Taylor Morrison Homes is planning a single-family home subdivision on land currently platted for an industrial park along Marigold Avenue, across from the Poinciana Community Park.
The Arizona-based homebuilder is asking for a large-scale Comprehensive Plan Amendment to change the future land use from Industrial to low density residential and clear the way for the new subdivision. Dennis Wood is the engineer of record and represented the developer at Thursday’s Polk County Development Review Committee (DRC) meeting.
The 150-acre site was supposed to be an industrial park in the original Poinciana DRI that was approved decades ago by former developer, Avatar. Wood said the developers are planning for 4.5 homes per net-usable acre, which equates to 571 homes.
“We don’t’ have a problem with it (residential plan) because the development makes sense for the area,” long-range planner Chanda Bennett said at the pre-application meeting.
The application deadline is Sept. 3 for the case to go to the planning commission Dec. 2, with proposed final adoption April 6, 2021.
This project is located within the Toho Water Authority service area. Developers will need to work with Toho to make sure water and sewer will be extended to the area to service the community, Senior Planner Erik Peterson told GrowthSpotter.
Once the map change goes into effect, Taylor Morrison and Wood will seek a rezoning to Planned Unit Development, which may include some commercial outparcels. Wood said the developers would make that decision in about nine months.
Bennett said they will have to show there is enough residential – enough people – to justify commercial development in the area to get approval.
Taylor Morrison acquired the Poinciana holdings in 2018 through its $963 million acquisition of AV Homes, successor to Avatar. That same year Taylor Morrison began marketing more than 2,600 acres in the Poinciana area of Osceola and Polk counties for sale. While some properties have been sold over the last two years, the developer also has rebooted projects that had stalled.
The nation’s fifth largest homebuilder, Taylor Morrison reported earning $1.5 billion in revenue in the second quarter ended June 30 – a 20% increase from the previous year. As of June 30, the company owned or controlled approximately 67,000 homebuilding lots.