Luxury homebuilder Toll Brothers will build an estate community with $1-2 million homes in Lake Nona in the first of what could be several upcoming deals with master developer, Tavistock Development Co.
“We’re excited to announce the development of Laurel Pointe — Lake Nona’s newest neighborhood built exclusively by Toll Brothers,” said Tavistock Development Company Vice President of Residential Development Rob Adams. “Recognized for superior quality and distinctive architecture, the homes in Laurel Pointe will attract new families to Lake Nona where they can experience the unmatched amenities, events, and camaraderie that continue to make our community one of the fastest-growing in the country.”
The two companies closed a $15.7 million deal Friday the 124-lot subdivision, previously known as N-4 in the Poitras East master plan. Situated on the north side of Luminary Boulevard, across from the Laureate Park expansion and Pulte’s Isles of Lake Nona, Laurel Pointe will consist of 70-foot and 90-foot lots. It will be one of Lake Nona’s only gated communities with its own separate HOA.
Toll Brothers also filed final engineering plans this week with South Florida Water Management District for all three phases of the community. Phase 1 will have 58 homesites. Company officials told GrowthSpotter Toll Brothers would offer its Estate Collection series on the 70-foot lots and its Signature series on the 90-foot lots.
The Estate Collection is currently available in Toll Brothers’ Lakeshore community in Winter Garden, where base prices start at $937,995.
Casabella at Windermere was the last Toll Brothers community in Orlando’s market to offer the builder’s Signature product, which comes standard with swimming pools, three and four-car garages, Sub-Zero and Wolf appliances, 24″ tiles in living area and optional elevator. Signature homes are highly customizable and typically sell for $1.5 million and up.
Toll Brothers has a few other projects in the pipeline, including Riverside Oaks, a 125-lot subdivision along the St. Johns River, just outside Sanford. The homebuilder also is scheduled to close in February on the Packing District townhouse site. Plans there call for 134 townhomes across from the planned YMCA on the southeast corner lot on N. John Young Parkway and Princeton Street.
The company is also in discussions with Tavistock to be one of the first builders in its Sunbridge community and is hunting for available land, according to land acquisition manager Dustin Bowersett.