Canadian homebuilder Mattamy Homes is continuing its buying spree in metro Orlando, spending $4.5 million last week to buy 100 acres on Ream Road, just north of Disney's employee entrance.
The property acquisition involved an assemblage of four separate parcels - each with a different seller. It's located near the Horizon West development area, and just down the street from Mattamy's Windermere Trails townhouse community.
Tom McCarthy, Mattamy Orlando's vice president for land acquisition and development, told GrowthSpotter the builder is planning a mix of single family homes and townhomes starting in the low $200,000s.
"People who work at Disney will be interested in this," McCarthy said. "We're right by the rear gate, that's where the employee entrance is."
The property has a significant amount of wetlands, which will require the builder to develop two separate neighborhoods. Mattamy has already received preliminary approval from the Orange County Development Review Committee to rezone the property for planned development.
The preliminary site plan calls for 114 townhomes on 16.68 acres and and 47 single family homes on the remaining 17 upland acres.
"We go before the (Orange County) Commissioners in January," McCarthy said. "We went ahead and had the closing because we're fairly confident we're going to get our approvals."
He said Mattamy has not selected a name for either community yet. Construction is expected to start in mid-2016 with the first homes available by the end of the year.
HCI Planning is the land planner; Poulos & Bennettis the civil engineer. The sellers were Helen Nguyen, Billy and Bonnie Whitlow, Juan Carlos Quiroga and Swirsky-Warner Revocable Trust.