PROPERTY DESCRIPTION The opportunity is to acquire 450 acres of vacant land known as Spring Center Planned Development District in the heart of Spring Hill, Florida. The site had an application approved for residential development, for as much as 1,500 single family residential units, 700 multi-family units, along with a town center in the already rapidly growing area of Spring Hill.
LOCATION DESCRIPTION The property is located in a prime area formed by Mariner Blvd., Spring Hill Drive, Deltona Blvd. and Northcliffe Blvd. in Hernando County Spring Hill, Florida. Located between US 19 on the west, Suncoast Parkway on the east, and Cortez Blvd. (SR 50) to the north. Adjacent to the property is a substantial amount of retail and healthcare. According to the Tampa Bay Reporter, with the rapid growth in Hernando, three manufacturers will receive incentives worth up to $500,000. In exchange, the companies will invest millions in expansion and bring at least 92 jobs to Hernando County.
PROPERTY SIZE 450 Acres
FUTURE LAND USE / ZONING Residential / Mixed Use / Condominiums and Apartments / Transit Hub
ZONING The property was recently rezoned for 3,000 residential units with 1,500 single family and 1,500 multi-family for sale or for rent, plus 750,000 square feet commercial and 250,000 square feet office/professional. Its likely planning will yield about 1,500 single family units and 700 multi-family units for 2,200 units total.
PARCEL ID R13-423-17-0000-0010-0000
1,500 Single Family units at $12,000/unit= $18,000,000
700 Multifamily units: (Two) 200 unit apartments at $10,000/unit= $2,000,000
Three hundred attached units at 6,000/unit= $1,800,000