More than 400 acres of grove land in Horizon West owned by a multi-generational real estate family is being marketed for expansive development, with value-add potential if a new public road can be extended westward into Lake County.
Bounded by S.R. 429 and Avalon Road (S.R. 545) to the east,Schofield Road to the south and the Orange-Lake county border on the west, roughly 403 acres are now zoned Agricultural, but offer broad potential when rezoned as part of the Horizon West Land Use Plan, either for residential or commercial uses in a neighborhood town center.
The land is owned primarily by members of the Ford family out of Deland. Family patriarch Frank A. Ford is a veteran real estate attorney, and the family acquired mineral rights to tens of thousands of acres across Central Florida in the 1930s through 1950s that were sold to developers in later decades at great profit.
The Ford family still owns thousands of acres across Seminole County, Deland and Ormond Beach. The Horizon West-area land has been marketed for the past seven months by Robert McEwan, first vice president with CBRE Orlando's Land Services team. A call for offers is scheduled for May 4.
The Ford family's preference is to sell the entire property as a package, but offers on segments will be considered, McEwan told GrowthSpotter. A triangular 43-acre parcel that runs along S.R. 429 down to Schofield Road is one that lends itself to be developed separately.
Horizon West is among the three hottest zones in Orange County for new residential construction, according to annual data from the Orange County Property Appraiser.
Slightly more than 25 percent of the master-planned community's 23,000 acres have been built out thus far. The Winter Garden zip code had 40 percent more sales last year than any other zip in Greater Orlando because of Horizon West communities, the Orlando Sentinel reported in February.
New Independence Parkway, which dead-ends northeast of the Ford property, runs eastward to the new 150-acre Hamlin Town Center and the 640-acre planned community of Hamlin in Horizon West.
Negotiations are progressing to extend New Independence Parkway westward through farm land all the way to U.S. 27 in Lake County, said Boyd Development partner Ken Kupp, which is developing Hamlin Town Center and owns approximately 300 acres west of S.R. 429, north and south of the parkway.
"We're working with Orange and Lake counties to wrap up the Right-of-Way for the project," he said. "Both have been helpful in working through that, and we hope to have that wrapped up in the next three to six months."