Taylor Morrison Homes is the latest national homebuilder to lock in a position in the desirable Village I section on Horizon West.
The nation’s fifth-largest production builder just paid $18.78 million for a subdivision called Harvest at Ovation near Disney. The acquisition includes 285 single-family home lots and 161 townhomes on 90 acres along Hartzog Road, east of Avalon Road.
The site lies within the Withers Planned Development, which is approved for 814 homes and townhomes. It also has a small neighborhood center entitled for up to 10,000 square feet of commercial uses and two school sites. Taylor Morrison will join Toll Brothers, which purchased 368 single-family and townhouse sites in Westhaven at Ovation through a $14.76 million land-banking arrangement in early February. Construction on the Toll Brothers sales center and model homes will start this spring, and sales will launch this summer.
The Taylor Morrison section of the community is just across Hartzog Road from the new Del Webb Oasis community now in development by Pulte.
The seller was a joint venture of Columnar Investments and Oakview Capital Management. Columnar sought and received approval in December for an updated Land Use Plan.
The Arizona-based homebuilder is active in the Hamlin section of Horizon West with two communities: Enclave at Hamlin (nearly sold out) and Overlook at Hamlin. In those communities, TMH offers a variety of floorplans, including 2-story “urban cottage” styles on 32-foot lots and executive homes on 85-foot waterfront lots on Lake Hancock, with prices starting in the high-$600,000s.
Village I is the southernmost and final section within Horizon West. It sits west of State Road 429, with the border of Lake County to its west. At build-out, the approximately 2,130-acre village could accommodate about 2,500 single-family homes, 1,200 townhomes, 1,200 multifamily units and up to 400,000 square feet of commercial space.
While TMH currently has about a dozen active communities in development in Central Florida, none currently offer townhomes now the Woodland Park in southeast Orlando is completely sold out. The company has two new townhouse projects in development in the Poinciana area of Polk County and in St. Cloud.
Taylor Morrison also appears to be gearing up for its largest project in the market with Solivita Grand, a 2,717-acre planned development in the Poinciana area of Osceola County. Solivita Grand is approved for over 6,000 residential units.