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Toll Brothers is eyeing nearly 80 acres of land just north of the Town of Windermere for what will be its third luxury home community in the area.
The homebuilder was listed as the developer in a Preliminary Subdivision Plan that was recently filed in Orange County. The engineer behind the project, GL Summitt Engineering, filed the plans on behalf of the property’s current owner, American Orange County Investments 40 LLC — an entity led by investor Bob Zlatkiss.
Toll Brothers is under contract to purchase the property. The site is located southwest of the Stoneybrook West Parkway and Windermere Road intersection, and consists of several parcels that together add up to around 78.5 acres. The assemblage includes ample frontage on Lake Roberts. The gross developable area is about 36 acres.
The site plan shows a 42-lot detached single-family home subdivision with a minimum lot width of 100 feet.
Andre Vidrine, founder and managing partner of Integrative Development Group, provides asset management services for seller. Without disclosing a price or official closing date, he said the deal would be the result of a long-time effort to set the property up for sale.
The owner has spent several years collaborating with existing landowners to not only prep the site for development, but to enhance utilities and add infrastructure in the area, Vidrine told GrowthSpotter.
The owner recently achieved the ability to submit for approvals to create enough right-of-way for an Orange County cross section that will extend and convert Walker Pond Road into a paved road with enhanced landscaping, Vidrine said.
As part of that effort, the seller is also working to bury above ground power lines, among other utility enhancements.
Toll Brothers declined to comment on the story.
The homebuilder is likely looking to capitalize on the success of other communities it has developed in the Windermere area.
Its Casabella at Windermere community is now almost completely sold out, with only a few of its 79 homes remaining to be complete. Homes in the gated community, which sits northwest of Lake Butler, feature large lots with price tags that begin in the $800,000s.
Professional athletes that have bought homes at Casabella include former NBA and Orlando Magic guard Quentin Richardson and Brazilian soccer player Rivaldo.
To all appearances, the newly proposed residential community along Walker Pond Road will be similar in nature.
“They’re running out of homes for sale in Casabella," Vidrine said. “Million-dollar homes in a gated community are difficult to find in the Winderemere area,”
Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.