Luxury homebuilder ADB Development Company will break ground in December on Phase 2 of Providence, a 2,215-acre master-planned golf course community in Davenport.
Providence is approved for more than 4,800 residential units with 2,048 entitled in Phase 1. Master developer ABD has completed more than 1,100 lots or townhome units, and is set to close on two deals this month that will add 628 multifamily units.
GrowthSpotter reported Sept. 11 that Tampa-based FID Capital Group would build 101 modern, luxury townhomes along the first and 18th fairways of the Providence golf course.
ABD President Yuval Botansky said the company has a buyer under contract for a 59-acre parcel on Kinney Harmon slated for 528 apartments. The closing is currently scheduled for late October, he added.
The complex would be built in two phases and have a 6,100-square foot clubhouse, according to the site plan. It also includes a much-anticipated second gated entrance to the community off Kinney Harmon.
Project civil engineer Joe Kolb with VHB told GrowthSpotter the apartment complex is permitted, but his firm is tweaking the site plan at the request of the buyer. ABD will build the new entry road and infrastructure for the complex.
ABD, which had previously developed the successful Vizcaya community in Dr. Phillips, launched Providence in 2005. The company builds estate and executive custom homes in the community starting at $500,000. Park Square Homes, Lennar, D.R. Horton (Emerald) and Richmond American are also active in the community. Meritage Homes has sold out of its lots.
"We're selling about 20 homes a month across all villages," Botansky said.
Marketing and Sales Director Matt Brown said ABD's executive and estate home sales have doubled each year since 2012. The company recently introduced a cottage-style product it builds on the community's 40-foot lots. Those detached homes are less than 2,000 square feet and typically start in the mid $300,000s.
ABD has mass grading permits for Phase 2, and Botansky said construction on a 1.9-mile extension of Providence Boulevard would start in December, along with installation of utilities and stormwater.
"It will take about five or six months to pave the road," he said. "Then we can start to open up new villages."
Phase 2 is approved for 2,813 residential units, but that included more than 1,000 townhomes.
"We're not going to do townhomes in Phase 2," Botansky said. "That will lower the density."
He said ABD will be adding amenities in Phase 2, including a second community pool, a wellness center and a dog park. He's also hoping to introduce a new product line -- active adult -- to Providence.
"I hope in the end of Providence Boulevard, we'll find someone to do a small 55-plus village," he said. "If I can't, I'll do it myself."
Phase 2 also includes three commercial parcels, and ABD is awaiting final approval from the U.S. Army Corps of Engineers for a permit to develop the first retail site: a 25-acre parcel at the southeast quadrant of Kinney Harmon and Highway 17-92. Botansky said the property is under contract to a third-party developer.
A site plan filed with Polk County and the South Florida Water Management District shows a retail center anchored by a 54,350-square-foot grocery store, flanked by about 70,000 square feet of attached retail space. The plan also shows a bank and two fast food restaurants.