Another record Lake County deal: $165M for Wellness Way land minutes from Disney
A Canadian homebuilder paid a staggering $165 million Friday for 2,300 acres of undeveloped land in Lake County’s Wellness Way area, breaking the county’s previous sale record set just three months ago.
GT USA, the American division of GT Homes, bought the swath of land stretching from U.S. 27 to the Orange County line just minutes from Disney World, GrowthSpotter reported. It includes the Arnold Groves & Ranch at 1,769 acres and the adjacent Roper property at 552 acres, which the company plans to combine into a single master-planned community called Panther Run.
The sale nearly doubles the $90 million price Pulte paid to GT USA in July for the 518-acre Schofield property just up the road. It underscores the tremendous demand for housing in fast-growing Central Florida, as the lure of jobs and relative scarcity of land in Orange County have pushed homebuyers and homebuilders to focus increasingly on surrounding counties.
Doug Bruk, Chief Operating Officer of GT USA, said the company was first drawn to the Lake County area because “Wellness Way is a great location to either raise a family or retire.”