With only a few homesites remaining at Lake Pickett Reserve, Pulte Homes has paid $8.2 million for another 160 acres of orange groves just west of the gated community.
The property on Old Lake Pickett Road, next to the UCF rowing center, has a county-approved site plan for a 116-lot subdivision to be built in two phases. The first phase includes 69 lots plus a lakefront recreation center.
The property is zoned Rural County Estate Cluster, which requires a minimum lot size of one-half acre and a full acre or more for lakefront lots.
Pulte started construction a year ago on Lake Pickett Reserve, a 52-lot subdivision where homes sell for between $380,000 and $530,000. That community has a private boat ramp on Lake Pickett.