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Homes in Palms at Windermere will be comparable to Dream Finders' Lakeside at Hamlin residential community in Horizon West.
Homes in Palms at Windermere will be comparable to Dream Finders' Lakeside at Hamlin residential community in Horizon West. (Dream Finders Homes)

Dream Finders Homes just bought a large piece of property in Horizon West with plans for a new single-family home community.

According to a recently recorded deed in Orange County, the homebuilder’s DFC Reams Road LLC paid $5.87 million for about 305 acres at 7721 Ficquette Road.

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The property is less than six miles (driving distance) away from Disney’s Magic Kingdom theme park.

Though the property is large in size, much of the land is considered wetlands or conservation area. Of the total gross acres, only 15.95 acres are developable. The property is known as Parcel 25 of the Lake Reams Neighborhood Planned Development, which spans 1,202 acres around Lake Reams.

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The subdivision is part of the Lake Reams Neighborhood PD, which spans 1,202 acres around Lake Reams.
The subdivision is part of the Lake Reams Neighborhood PD, which spans 1,202 acres around Lake Reams. (Orange County)

A previously approved Preliminary Subdivision Plan gives DFH the capability to build up to 57 single-family homes. A Master Utility Plan submitted in Orange County states the homebuilder intends to create a new residential community called The Palms at Windermere. Amenities include a 1.4-acre park tract.

Dan Edwards, DFHs’ vice president of land, said the new residential community will consist of 60-foot and 65-foot lots that will accommodate homes ranging in size between 2,500 square feet and 4,000 square feet.

“We’re anticipating it being a bit of a higher-end product especially given its location,” Edwards said. “It’s located in Horizon West with a Winderemere address.”

Horizontal construction is slated to begin in the next couple of months, he said. DFH will then launch sales and model home construction sometime within the fourth quarter of this year.

Pricing is not yet finalized, Edwards said, but he compares the floor plans to those at its Lakeside at Hamlin residential community, where homes on 60-foot lots are currently selling between $565,990 and $657,990, according to its website.

The deal includes entire Century Homes Florida portfolio, including active Craft and Century Homes projects in Lake Nona’s Laureate Park.

The Jacksonville-based homebuilder has been growing rapidly over the last 12 months.

Following its IPO last year in January, the builder acquired Orlando-based Century Homes/Craft Homes and all its assets, giving it a foothold in communities like Lake Nona and Sunbridge. DFH also acquired two homebuilders in North Carolina and Texas, expanding the company’s footprint throughout the Sunbelt.

Homebuilding revenues for the third quarter increased 27.9% to $361 million, compared to $283 million the same quarter a year ago, according to the company’s most recently released financial report.

“We’ve been growing both as a company and a division here in the Orlando market,” Edwards said. “We’ve had great success in Horizon West with communities like Sanctuary at Hamlin and Wincey Groves at Hamlin.” He adds the company’s Lakeside at Hamlin neighborhood, a 151-lot residential community near Orlando Health’s Horizon West campus, is almost fully sold out after launching sales last summer.

The homebuilder is also active in Lake County. Last year, it entered the Clermont market with plans to build 321 homes within the 116-acre Hartwood Marsh subdivision, located on Hartwood Marsh Road.

GrowthSpotter first reported that DFH was acquiring the final three phases of the Hills of Minneola master-planned community by the Hancock Road and Florida’s Turnpike interchange. The homebuilder paid $27 million for 510 lots in September. In total, DFH will accumulate 967 between two takes.

DFH was founded by Patrick Zalupski in 2008 and specializes in homebuilding, title and mortgage services. It’s active in markets throughout Central Florida, as well as Georgia, South Carolina, Colorado and the Washington DC Metro area.

Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 491-3357, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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