Notes

SC Advisors Real Estate - Storey Park

DEVELOPMENT ADVISORY SERVICES FOR MASTER PLANNED COMMUNITY

In March of 2013, Lennar Homes purchased 366 acres of land in the City’s southeast sector for a new master-planned community. The community, which was named Storey Park, is strategically located within a 3-mile radius of the area’s fast-growing medical employment centers including the new regional Veterans’ Administration Hospital, Nemours regional hospital, the University of Central Florida’s School of Medicine, the Burnham Institute, the University of Florida’s Dental School and numerous other support services and facilities.

SCA represented the owner of the parcel, Moss Park Properties, LLLP, in the transaction after successfully navigating the vastly complicated process of obtaining zoning and entitlements for the land. Upon completion of the $50 million transaction, Lennar Homes immediately asked SC Advisors to guide them through the next steps of developing a master plan and securing approvals and entitlements for Storey Park. SCA facilitated the annexation into the City of Orlando and the engineering of $30 million in road and utility improvements. Once all agreements and approvals were secured, SCA was further engaged to manage the oversight of these improvements including engineering, permitting, procurement, and construction oversight.

Phase I of the improvement plan was completed in early 2015 allowing Lennar to launch pre-sales. Planning for future phases of Storey Park is now underway with scheduled completions coming in late 2016 and 2017.