Lennar has paid $6 million for a parcel in Horizon West that will contain 850 residences and wrap up a theme the homebuilder has been weaving into recent developments.
"Storey" has been a buzzword for Lennar projects for the last couple of years and Storey Grove in southwest Orange County's mega-development will be the homebuilder's latest use of the word and last, said a person familiar with Lennar's plans.
Storey Grove will lie west of CR 545 and south of Seidel Road.
The project will join Storey Lake in Kissimmee and Storey Park near Lake Nona, each of which has, or will have, its own style. There is no major reason Lennar stuck with Storey three times; the company just liked its cadence.
Lennar closed on the last piece of Storey Grove Thursday. The land was one of three parcels bought from Avalon Properties, starting in 2013, to create the new community.
Storey Grove will be a mix of single family residences and town homes. The houses will start in the mid $200,000s and the town homes in the low $200,000s.
In part, the residences are being designed for people who work in Disney and want to live nearby.
The first residences are expected to be ready for sale in the middle of next year.
Selling began earlier this year in Storey Park, at 10281 Dowden Rd. Planned are 1,200 residences in Orlando, just north of Lake Nona.
Storey Park Cottages run $260,000 to $281,000 while the executives style tops out at $396,000. Manors, with multiple floor plan options, are also going to be built. Pricing has not yet been set.
Lennar began selling homes at Storey Lake, at 4600 W. Osceola Pkwy., in late 2014. Planned are 2,000 residences with estate homes running $263,000 to $373,000 while Cove Vacation Villas are $394,000 to $415,000.