Jacksonville-based Dream Finders Homes is under contract to buy and develop more land in Horizon West.
The company is planning to build a 151-lot residential community on land south of New Independence Parkway and west of S.R. 429. Lots range between 40 feet and 60 feet.
Boyd Development sold the property to a joint partnership between Sun Terra Communities and JEN Partners for about $11.9 million. The partners intend to sell the lots to Dream Finders Homes in phases, Sun Terra principal Denver Marlow said.
The property is part of a larger 35.5-acre assemblage prepared by Boyd Development to feature the planned residential subdivision and a new roughly 20-acre medical office campus along Avalon Road (CR 545).
Submitted plans in Orange County show, Boyd is seeking to build up 177,800 square feet of commercial space across about a dozen buildings.
Boyd partner Ken Kupp told GrowthSpotter the first phase of medical office development is just getting underway and will consist of about 100,000 square feet of office space.
“We have sold a pad for a 14,000-square-foot plastic surgery center and there is a 10,000-square-foot building and 12,000-square-foot building in the planning phase now,” he said. “A number of doctor groups are looking to take space in those buildings.”
The properties lies across the Orlando Health Horizon West hospital campus.
The residential portion Boyd sold sits nearby another Dream Finders Homes community currently under construction, called Wincey Groves at Hamlin. The approved plans for that residential subdivision call for 177 homes on 53.6 acres of land on the northwest corner of New Independence Parkway and Avalon Road.
The homebuilder is offering nine floor plans at Wincey Groves starting in the upper $300,000′s, according to its website.
On the west side of Avalon Road, Sun Terra is planning a large mixed-use development called Silverleaf that will contain about 1,200 single-family lots, 1,100 multi-family units and 980,000 square feet of non-residential use.
Sun Terra is scheduled to have its rezoning application go in front of Orange County commissioners next month. Marlow said Meritage Homes is under contract for approximately 300 lots.