Reston, Va.-based Ryan Homes is planning to build a new residential subdivision, tentatively called Riverside Reserve, just east of the Sanford city limits.
The 76-lot subdivision would be located on 19.77 acres in the southwest quadrant of North Beardall Avenue and Hughey Street, according to a final plat submitted to Seminole County. New single-family homes will be priced starting in the mid-$200,000s, according to a Ryan on-line advertisement.
The property is vacant and carries a Planned Development Future Land Use designation and PD (Planned Development) zoning classification. The county approved final engineering plans last February.
The land is owned by Riverside Reserve Dev. LLC, a company headquartered in Winter Garden, and whose officers are listed in state incorporation documents as Gary Webster and Jose L. Domingues. The company bought the land in December 2018 for $1.25 million, according to deed filed in Seminole County.
Company officials declined to comment.
Lots in Riverside Reserve would be a minimum of 6,000 square feet with a maximum density of 3.87 dwellings per buildable acre. Allen & Company of Winter Garden handled the mapping and surveying for the plat.
The Riverside Reserve property is directly south of a 108-lot residential community now being developed on the north side of Hughey Street. Sadique Jaffer and Bobby Luthra of Ivanhoe Holding Group LLC are the developers. Ivanhoe purchased the 28.61-acre project site from Seminole County Public Schools in August for $1.28 million.