Business - August 23, 2018

Tavistock buys property south of Laureate Park

The 11,000-acre Lake Nona community already has billions of dollars of construction underway, and there’s even more growth ahead. Lake Nona is “growing,” and it now owns more land next to billion-dollar buildings in the middle of nowhere.

Tavistock Development Co.’s related Lake Nona entity TDCP LLC spent $63.9 million ($55,700 per acre) for 1,147 acres near the Orlando International Airport. The seller was the Greater Orlando Aviation Authority.

The three different parcels, two in Orange County and one in Osceola County along Narcoossee and Boggy Creek roads, will be used by Tavistock to develop a portion of a mixed-use project west of Narcoossee Road, north and east of Boggy Creek Road near the Orlando VA Medical Center, Tavistock spokeswoman Jessi Blakley told Orlando Business Journal.

Located on the north side of Boggy Creek Road in southeast Orlando, the Greater Orlando Aviation Authority bought the land in 1989 for soil borrow material in anticipation of its construction of a third and fourth runway at the airport and for related wetlands mitigation.

The property will connect to Tavistock’s Laureate Park development and will lie west of Tavistock’s 4,787-acre Sunbridge project. Also, extensions are proposed for Medical City Drive southward into the property, as well as Hartwell Court.

 

Here’s a breakdown of what’s coming in the Planned Development:

  • 2,734 residential units
  • 30 acres for a school site
  • 285.9 acres of conservation land
  • 100,000 square feet of commercial space
  • 15 acres for a neighborhood center
  • 12.3 acres for a community park

Lake Nona Golf & Country Club

Arturo Barcellona Homes