D.R. Horton continues to increase its footprint in fast-growing markets across Central Florida.
The homebuilder just recently bought into Mercury Advisors’ Avian Pointe community in Apopka, all the while making moves to take over a large residential project just minutes from the Disney theme parks in Osceola County.
In Apopka, D.R. Horton paid $3.95 million for a 56-lot build-for-rent subdivision that makes up the first phase of the large Avian Pointe master-planned community, located east of the Western Beltway (S.R. 429). The residential community is located near where companies like e-commerce giant Amazon, Goya Foods, Universal Studios Orlando and Coca-Cola Co. are building or planning to lease distribution centers.
The Texas-based homebuilder is also under contract for the adjacent 118-unit townhome community on Parcel B-1. Both developments will be purpose-built rental communities. Amenities include a resort-style cabana and pool area.
Other phases of the master-planned community include a 480-unit multifamily complex and a 104-unit townhome community.
D.R. Horton is already active in the Apopka submarket. It’s currently selling in Bridle Path, a 152-home community in the Kelly Park Road Overlay, and soon will launch Westridge Park on Ponkan Road just west of S.R. 429.
Plans for the entire Avian Pointe community call for more than 750 residential units across of mix of single-family homes, townhomes and multifamily units, as well as a new K-8 school, community/recreational space and a new roadway called Grand Avian Parkway, which will wind through the development between Lust Road and Peterson Road.
The Osceola County site is located further south on S.R. 429, at the Sinclair Road interchange near Reunion. The 60-acre site was previously under contract to K.B. Homes, but that transaction didn’t close. Last week, Horton’s Land Planner Bennett Ruedas and Senior Development Manager Brett McQuaide had a pre-application meeting with the county’s Development Review Committee to discuss plans for the site, which include a mix of commercial and residential uses.
VHB’s Leah Fitzpatrick said Horton plans to subdivide the parcel into four lots: two commercial outparcels fronting on Sinclair and two lots with entitlements 350 townhomes and 240 multifamily units. Fitzpatrick said D.R. Horton would build the townhomes, but the apartment site could be sold to a third party developer.
The parcel is part of 126 acres that Avanti Property Group bought for $8 million in May 2015. The Avanti assemblage at one time covered all four quadrants of the Sinclair Road-S.R. 429 interchange, but portions have been sold off in recent years for a new convenience store, a church and two apartment complexes.
EDITOR’S NOTE: This article has been updated to include D.R. Horton’s plans to build townhomes in Avian Pointe. A previous version of the story did not identify the build-for-rent communities planned by D.R. Horton at Avian Pointe.