Park Square Homes will break ground in July on the first models and sales center for Carlisle Grand.
The Orlando-based developer paid $2 million last December for the 43.5-acre parcel on Florida Development Road. Located just off U.S. 27 in Davenport, the former orange grove will become a 164-home community targeting first-time homebuyers and retireers looking to downsize.
Park Square President Steve Parker told GrowthSpotter home prices would start in the low $200,000s with floorplans offering 1,600 to 3,000 square feet.
"We look at where there's strong demographics," Parker said. "We believe in this price point we're offering, and there's strong demand for this price point in the I-4/27 corridor."
Carlisle Grand is Park Square's fourth active project in the Four Corners area, but the other three -- in Providence, Solterra and Reunion Resort -- all target vacation home buyers. Carlisle Grand is designed for primary residential buyers, Parker said.
He said scarcity of land and higher land prices in Orange County make it impossible to build single family homes for $200,000. So Park Square is building starter homes in Kissimmee, St. Cloud and now Davenport.
In the depths of the recession, when a lot of home builders had to shed their land, Orlando-based Park Square Homes was buying it at discounts. Now, with the real estate market improved, Park Square is busily tapping into to its bargain land.
Harbor Shores, a 62-home community just off Pleasant Hill Road west of Lake Tohopekaliga, and Canoe Creek Crossings, a 50-lot subdivision in St. Cloud, have both cleared permitting and will break ground this year.