News

As principal of Sun Terra Communities, Richard Jerman has pulled off some of Central Florida's biggest land deals, including the $70 million Hills of Minneola.(Handout) Richard Jerman describes himself and his partners as “opportunity seekers.”

Oviedo-based developer Sun Terra Communities paid nearly $42 million this week for 534 acres in the Horizon West Town Center.(Handout) Sun Terra Communities has closed another blockbuster land deal, this time in the highly desirable Horizon West submarket.

Sun Terra Communities will be seeking modifications to the Hills of Minneola PUD. The revised concept shifts all of the industrial and research park uses (pink) to the northwest quadrant of the Florida Turnpike interchange. The proposed medical campus and K-8 school sites have also be relocated.(Sun Terra Communities)

The Mormon Church's land company paid $9.9 million last week to buy more than 4,300 acres (in white) adjacent to Deseret Ranch in Osceola County. The land was slated to be the final phase of the Harmony master-planned community and was entitled for more than 3,500 homes.(Osceola County Property Appraiser)

Harmony encompasses 11,000 acres, including two private lakes, an established network of parks and trails, and a golf course.(handout) Oviedo-based Sun Terra Communities will take over as master developer of Harmony -- a neo-traditional golf course community spanning 11,000 acres on Osceola County's E192 corridor -- after buying all of the remaining assets from Starwood Land Ventures.

These two parcels totaling nearly 270 acres north of Howell Branch Road are to be developed with 695 homes by Meritage Homes, along with 6.82 acres of commercial space.(provided) Meritage Homes will begin work later this year on a 695-home subdivision in South Seminole County, with an initial phase of homes hitting the market in mid-2018.

CalAtlantic Group paid $11.2 million this week for the 216 lots in Phase 2 of Whaley's Creek, outlined in red.(Sun Terra Communities) As CalAtlantic Group nears the final buildout of its popular Esprit community in St. Cloud, the homebuilder paid $11.2 million on Tuesday to remain in the neighborhood.

The shaded area, including Lake Howell, encompasses the land the Diocese of Orlando sold to a new York investment group. (Seminole County Property Appraiser) Oviedo-based developer Sun Terra Communities has paid $26.7 million to the Diocese of Orlando for 269 acres on Seminole County's Lake Howell, to be proposed for single-family homes.