Homebuilder D.R. Hortonpaid $3 million on June 20 for 33 acres in Ocoee, and plans to start construction next month on a 140-lot subdivision.
Horton bought the land from an affiliate of IBI Group, which led the project through the city's permitting process. The subdivision, called Oak Trail Reserve, will have direct access to the 22-mile West Orange Trail. It includes a mix of 40-foot and 50-foot lots with a neighborhood pool, cabana and playground. The plans call for a two-phased construction period.
The project is located at the northeast corner of Hobson and Clarcona Ocoee roads, next to CalAtlantic's Arden Park North. The developer will extend Clarke Road north within the current city right-of-way and merge it with Hobson Road. The entrance to the community will be from Hobson.
While the builder has dozens of projects in the region now, Oak Trail Reserve will be its only community in active construction in the city of Ocoee.
D.R. Horton, which trades on the New York Stock Exchange, has been the nation's largest homebuilder consistently since 2002. Headquartered in Fort Worth, the company operates four regional offices throughout the U.S.