Homebuilder Taylor Morrison is set to bring another construction company into the fold to help build up a planned mixed-used development in Mascotte.
Orlando Division President Brian Brunhofer told GrowthSpotter that Taylor Morrison is partnering with Lennar on Waterstone, a mixed-use development between Bluff Lake Road 33 and Villa City Road in Lake County. The two homebuilders are also co-developing Westview, a master-planned community in Poinciana.
“This community will feature 212 20-foot-wide townhomes and 841 single-family detached homes,” Brunhofer said. “Taylor Morrison is the sole builder of townhomes in the community, and the rest of the homesites are shared between the two builders. Taylor Morrison models have been completed and we are open for sales.”
Taylor Morrison just released pricing for the townhomes, which start at $270,000. The builder is offering nine single-family home designs priced between $320,000 and $430,000.
Last month, Taylor Morrison announced it would incorporate one of its Esplanade neighborhoods to Waterstone. The gated resort neighborhood, containing a proposed 900 lots, will be the largest of the builder’s four branded communities. Brunhofer said it will be constructed in a future phase.
Local developer Chuck Piper secured the zoning and entitlements for Waterstone, formerly known as Langley Estates. The development has been approved for 2,500 homes and 250,000 square feet of non-residential uses. Lennar recently closed its first two takedowns, comprising 77 lots for $6.5 million, as part of the joint venture.
“I think 2,500 [homes] is a good number out there,” Piper said of the project. “Taylor Morrison and Lennar, they’re purchasing the property through me and they’re halfway done buying it and then they buy the remaining property over the next two years.”
Piper secured the development agreement to build Waterstone in 2022 and said he’s impressed by the speed that builders have begun work on the project.
“If you’ve been out there, they’ve already started developing the first phase of just under 300 lots and it’s near completion,” he said. “They’ve already started building homes out there, it’s going to be a beautiful community.”
Work on construction plans for the second phase of the project is currently underway, Piper said.
Waterstone is set to be complete across four phases, according to Piper, with work in later phases concentrated within the northern edges of the project area, near the intersection of Simon Brown and Villa City Road.
As part of the development agreement, Mascotte city officials also require the developer to provide a minimum five-acre regional park space for residents.
Piper said additions like the proposed park space, designed to connect developments to their surrounding community, are what he enjoys most about projects like Waterstone.
“I’ve done about 80,000 lots throughout my career in the Central Florida area,” he said. “What I’m most proud of is going back to these communities when you see kids playing in the yard and families moving in, that’s what’s exciting.”
Taylor Morrison has several other communities underway in Lake County, including Lochside in Mount Dora, which will consist of 150 single-family homes, Yardly-branded rental homes and condo townhomes. The community is located on U.S. 441, next to the Country Club of Mount Dora.
Another is the 358-acre McKinnon Groves in the Wellness Way area on the Lake-Orange County line, which be a 658-home Esplanade resort community.
The builder is also planning a new subdivision in Groveland called Hazel Park, which will have 217 homes.
Have a tip about Central Florida development? Contact me at jwilkins@orlandosentinel.com or 407-754-4980. Follow GrowthSpotter on Facebook and LinkedIn.
