The owners of prime lakefront property east of Lake Nona are trying to prepare it for development as increasingly rare estate lots, but face a Land Use Plan challenge ahead.
Located three miles southeast of the North Shore Golf Club and six miles from Lake Nona Golf & Country Club, the 61.39-acre parcel features about 41 developable acres on the southern end of Moss Park Road, in its 13000 block with frontage on Lake Hart.
The land is owned by Compass Trading Company LLC, an investment affiliate of Palm Coast-based Charles and Benjamin Vogel, who paid $1.8 million in November 2015 to buy it from Lennar Homes.
This "Tract M" within the Moss Park Planned Development is entitled for 26 single-family estate lots, but the Land Use Plan designates those lot widths at 150 feet or more.
The parcel won't accommodate all 26 lots at that width, so the applicant may be asked to file for a substantial change to the LUP to reduce lot widths to 100 feet.
Civil engineer Jean Abi-Aoun of Florida Engineering Group met with Orange County staff on Wednesday to discuss the land owner's options. Joining him was Steve Fusilier of Fusilier Realty Group, serving as broker-partner and developer on behalf of the Vogels.
The owners have completed their habitat plan and conservation area easement dedications for the property, and are ready for a Preliminary Subdivision Plan if the lot width minimum can be reduced, Abi-Aoun said.
Decreasing linear frontage width will still allow these to be estate lots of 1 to 3 acres, Fusilier told GrowthSpotter.
His expectation for 2018 is to move through the county approvals for an LUP change and PSP submittal, and be ready to break ground by this time next year.
"We will self-develop and bring in homebuilders of our choosing. There are three to four that we are considering now," Fusilier said.
"They would take down a few lots at first for spec homes, and we'd then make those builders available" for custom and semi-custom homes to individual lot buyers, he added.