Sold: 21 acres of land in Groveland for future development
Investor purchases 21 acres of land in Groveland
Suburb of Lake County is ripe for development, economic expansion
TAMPA, Fla. (November 2015) — Recognizing the potential for growth in Lake County, Cantero Holdings, LLC, purchased 21.06 acres of land at the intersection of U.S. Highway 27 and O’Brien Road in Groveland for $550,000.
Bill Short, CCIM, of Tampa-based Southeast Land Consultants, Inc. (SLC) represented the seller, Redus Florida Land, LLC, doing business as Wells Fargo in the transaction.
“The city of Groveland has made a number of improvements to the local infrastructure, including upgrades to one of their sewer plants,” said Short. “That, in addition to the proposed residential development, both point to anticipated growth in this area.”
Included in growth plans is the development of Villa City, a 2,500-acre proposed residential development located along the U.S. Highway 27 Corridor. If completed, the neighborhood would add 5,600 homes with a projected population of 12,275 to the city of Groveland, which had just 9,100 residents in 2014.
“This development alone could bring substantial growth to the community,” said Short. “The buyer recognized the potential for this – which is just five minutes from where Villa City could one day be – and plans to develop it when the time is right.”