Tavistock Snags Nearly 200 Vacant Acres Near Lake Nona

Feb 05, 2018 No Comments by

An affiliate of Lake Nona’s developer spent cash to buy nearly 200 acres of cow pastures on the border of Orange and Osceola counties.

Springhead North LLC, an entity related to Tavistock Development Co. LLC, on Jan. 31 spent $15 million — or nearly $77,000 per acre — to buy three parcels of land from Carter-Lake Away North Land Trust, Orange County records showed.

The land isn’t contiguous to Lake Nona, but rather is on the east side of Narcoossee Road along Clapp Simms Duda Road in Orange County and along Cyrils Drive in St. Cloud, southeast of Medical City. Two parcels are in Osceola and the third is in Orange, property records showed.

It’s unknown what’s planned for the property and representatives from Tavistock were immediately unavailable for comment.

Daryl Carter of Maury L. Carter & Associates Inc. declined to discuss details of the sale, saying only that his family has been representing that land through trusts for about 40 years.

However, Carter did say proximity to Tavistock’s 17-square-mile booming community of Lake Nona is what made that land valuable.

 

“If you get in a helicopter only about 100 feet above ground, you can see Lake Nona and what Tavistock has done there with Medical City and everything else,” Carter told Orlando Business Journal. “It’s all very innovative, transformative, generational, impactful things. And this land is in that core of influence.”

Lake Nona is one of Central Florida’s hottest communities. It notched the No. 15 spot among the nation’s top-selling master-planned communities with 523 home sales in 2017, John Burns Real Estate Consulting reported.

Additionally, the community already boasts more than 11,000 residents, 5,000 employees in its 650-acre Medical City life sciences hub, plenty of new activity in the 300-acre Sports & Performance District, and more than 11,000 students at its schools.

 

Source:  OBJ

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