Dream Finders Homes is under contract to buy 49 acres from Brightleaf Properties for a subdivision on Poe Street in Leesburg.
The latest deal adds to the Jacksonville-based homebuilder’s Lake County portfolio, which includes communities such as Bella Collina, Hills of Minneola and Seaport Village. Dream Finders is also taking a large position in Panther Run, the master-planned community from GT USA in Wellness Way.
The Poe Street subdivision project was approved by the Leesburg City Commission last summer. The commission also approved annexation for the land, which sat just outside of northeast Leesburg. Plans, done by LevelUp Consulting, call for 135 single-family homes — 78 on 50-foot lots and 57 on 60-foot lots as well as a .6-acre recreation area and a trail system around a retention pond.
First Capital Property Group is representing Brightleaf Properties in the sale, and closing is set for early May. Dream Finders is expected to begin construction immediately after closing, Jesse King, Sales & Leasing Associate with First Capital Property Group, told GrowthSpotter. The purchase price is not yet publicly available.
Another Brightleaf community that was approved last summer is moving along as well. This townhome subdivision is planned along County Road 48, near County Road 470 and the Florida Turnpike. Plans for the 38-acre subdivision, done by GAI consultants, call for 253 townhomes.
Currently, Brightleaf has multiple offers on that property, Managing Director Sean Myers told GrowthSpotter.
“We’re also evaluating two joint venture proposals to build the vertical improvements as either a build-to-rent community or as 50% BTR and 50% for-sale housing,” he said. “The location is attracting a lot of interest because of its proximity to The Villages’ new town center at CR 470 and the Turnpike.”
In other Lake County growth news:
- Dix Developments has purchased the 74-acre Blake Ridge property in Leesburg from retired motocross professional Blake Baggett for $4.875 million. Plans for Blake Ridge call for 216 single-family lots.
- A White Castle is coming to Clermont’s Plaza Collina. Groundbreaking is set for April 9.
- The Eustis City Commission has approved a Highlands Homes plan for a new 275-home subdivision on State Road 19.
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