Royal Oak Homes had its $3.2 million bid chosen this week by Apopka's City Council for a 103-acre lakefront property, which is zoned for low-density residential.
Located west of S.R. 451, south of Marshall Lake Road with frontage on Marshall Lake and northeast of the Breckenridge subdivision, the vacant city-owned property was declared surplus in early February and marketed for sale.
An affiliate of AV Homes, Royal Oak now has a maximum due diligence period of up to six months to close on the property, from the date of its bidsubmittal. Thehomebuilder has yet to file a Development Plan with the city.
The city had also placed a Commercial-zoned property up for sale that drew no bidders. It will bring back to market the 8.45-acre parcel at 751 N. Park Ave., which is based on the southeast corner with E. Sandpiper Road.
A price floor for bids on that parcel is $1.267 million, with bids now due on July 14. A copy of the property's appraisal report will be provided upon request.
Bids and inquiries can be directed to Community Development Director James Hitt.