A South Florida developer who has sat patiently on 100 acres in Apopka since 2005 is approaching his long-awaited groundbreaking in the next two months, with the benefit of new infrastructure and population growth in Orange County's second largest city.
Land for the Oak Pointe development covers 99.5 acres east of the S.R. 429 and Ocoee Apopka Road intersection, and extends south to McCormick Road. The site is less than a mile from the new Florida Hospital Apopka.
Its owner Thompson Hills Estates LLC is an affiliate of Jupiter-based developer and homebuilder Malcolm F. Jones, and his company Ultimate Communities.
"2005 was the wrong time to buy, so I've been very fortunate to hold on to it this long," he told GrowthSpotter. "Homebuilders weren't coming around until after 2015. I just had to wait for the economy to come back, and finally struck a deal with DR Horton two years ago. It's taken me that long to get through the city (permitting) process."
Jones anticipates having his site work and mass grading permits approved by Apopka within 45 days. The developer filed a modification request last week with the St. Johns River Water Management District for the construction of 118 single-family homes, 106 townhomes, commercial sites and associated stormwater retention.
Jones will lead the site work this summer as general contractor, hiring all subcontractors directly, with a goal of having all infrastructure complete by the end of this year.
He'll sell about 77 acres to DR Horton for what will be a private gated community, and have another 22.31 gross developable acres to sell or lease for commercial.
David Calcanis and Jorge Rodriguez of Colliers International Central Florida are marketing the commercial land, made up of five lots ranging from 1.16 to 10.6 acres that feature frontage at two intersections.
Jones said two 1-acre parcels are now under contract for a fuel station and neighborhood retail service. The larger 10-acre site may best serve an assisted living facility, he estimates, based on proximity to the hospital.
Apopka's population growth between 2010 and 2016 topped 18 percent, outpacing the city of Orlando, Tampa and state of Florida as a whole, according to the U.S. Census Bureau.