K. Hovnanian Homes recently paid $6.4 million for the next phase of its master-planned Winding Bay community in Horizon West.
Orlando Division President Kyle Upper said the acquisition was part of an aggressive growth plan to open six new KHov communities in the next 12 months.
"We're going to do 300 homes this year and 400 next year," Upper told GrowthSpotter on Tuesday.
KHov closed March 30 on the 78-acre parcel on Avalon Road that abuts property the homebuilder purchased last September. It already has a notice to commence construction on Winding Bay Preserve, an 88-unit townhouse community on the northern 25 acres.
"It's all going to be one master-planned community at the end of the day," Upper said. "There will be inter-connectivity and shared amenities."
The southern parcel was the first of three take-downs planned for Winding Bay, which will add another 327 homesites. It's also the first KHov community to introduce a new "Carriage House" product specifically designed for 32x125 foot lots.
KHov will offer three carriage house floor plans ranging from 2,000 to 2,800 square feet. Each will have a detached rear garage with an oversized courtyard connection to the house.
"There's plenty of outdoor living space," Upper said. "The courtyards are large enough for a pool."
Buyers will have the option to add a second floor with a finished rec room or one-bedroom apartment over the garage.
Phase 1 of Winding Bay is approved for 60 carriage house lots and 75 standard 50-foot lots. Upper said KHov will offer many of the same floor plans that are currently available in other locations.
The community pool and clubhouse will also be built in the first phase along with a trail connection to The Preserve. The townhome community will have a dog park and beach volleyball courts, and residents will have access to the community pool in Winding Bay. Other amenities will include tot lots, exercise facilities and a multipurpose field.
"The opening of Western Way should coincide with the opening of The Preserve in October," Upper said. "That's a big reason why we bought it. The whole Avalon Road corridor is getting ready to blow up."
He said Winding Bay should open by March 2019. The goal is to move seamlessly as KHov nears final buildout of Highlands at Summerlake Groves, also in Horizon West.
Upper said KHov will open two communities in May: Magnolia at Westside and Lake Florence Preserve in Winter Park.
"And we're closing next week on 120 lots in St. Cloud," he said. "It's called Solivista, and it replaces Turtle Creek."
KHov is also buying a fully-permitted, 50-lot subdivision called Ocoee Landings and a 120-lot subdivision in Apopka called San Sebastian. Both are slated for grand openings in First Quarter 2019.
"We close on San Sebastian in two weeks," Upper said. "It's going to be gated, maintenance-free with 40-foot lots. We'll be introducing new product for that community. The homes will have front entries."