Project Description
Shortly after the sale of Foster’s Groves in 2015, the owner of the largest tract, Maitland Fruit Company, approached Axel Real Estate to analyze an old orange grove that was leased as a cattle pasture in Osceola County. Axel Real Estate determined that the 88.46 acres property would be marketable as a single-family subdivision and was engaged to facilitate governmental approvals and marketing.
Axel Real Estate obtained a zoning map amendment in November of 2015 from Rural Development-one acre to Low Density Residential and immediately proceeded with conceptual planning. Pulte Homes came on board in September of 2016 and worked with Axel Real Estate to obtain Preliminary Subdivision Plan Approval, which was achieved January 4, 2017. Pulte purchased the property January 24, 2017 for $4.15 million and proceeded with final approvals of East Lake Preserve which was sold under its Centex Homes brand.
