Author Archives: Kristin Fortier

Documents reveal ‘repurchase triggers’ that would force Disney to sell Lake Nona land back to Tavistock | Orlando Business Journal

By   –  Staff Writer, Orlando Business Journal
 Updated 

Lake Nona’s master developer not only has a say in what happens next with the 60 acres it sold to The Walt Disney Co. (NYSE: DIS) for the theme park titan’s abandoned corporate campus project, but it also has a timetable for when it might get the land back.

A review of legal documents related to the September 2021 land sale between Burbank, California-based Disney and Tavistock Development Co. LLC shed some light on when Disney may have to resell all or part of its Lake Nona property in southeast Orlando to Tavistock as a result of it nixing plans to build a 1.8 million-square-foot office campus there.
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However, a company as well capitalized as Disney should be able to hold the land without much issue, said veteran Orlando land broker Daryl Carter of Maury L. Carter & Associates, who isn’t involved with the project. Executives likely will talk through a number of considerations as to what to do next — and when to do it, Carter told Orlando Business Journal.

Read entire article here: https://www.bizjournals.com/orlando/news/2023/05/24/disney-lake-nona-repurchase-triggers-revealed.html

Fruitland Park P&Z board approves 603-home neighborhood just outside of The Villages | GrowthSpotter

By KATIE SARTORIS | Newsroom@GrowthSpotter.com | GrowthSpotter Contributor | May 11, 2023 at 4:00 p.m.

FRUITLAND PARK — The Fruitland Park Planning and Zoning Board unanimously approved the preliminary plat for a 603-home community on 158 acres located south of Lake Ella Road and east of Rolling Acres Road.

The plan, submitted by ResiBuilt, calls for 413 single-family homes and 190 townhomes with a density of 3.78 units per acre. Based in Atlanta, ResiBuilt specializes in purpose-built rental homes and opened an Orlando office in 2021. On large projects like this one, ResiBuilt often sells lots to other production homebuilders to create a balance of for-sale and for-rent homes. The strategy adds variety to the community and facilitates a faster lease-up on the rental side.

The company is under contract to buy the property from an investment group led by Daryl Carter of Maury L. Carter and Associates.

“The property is located approximately one mile from The Villages, one of the best and fastest growing communities in the United States,” Carter said. “In the City of Fruitland Park with existing land and zoning for single family and commercial use with a high percentage of usable land, the property is prime for development.”

Read entire article here: https://www.growthspotter.com/2023/05/11/fruitland-park-pz-board-approves-603-home-neighborhood-just-outside-of-the-villages/