Sun Terra snags land in Horizon West Town Center for $42M

Laura Kinsler | GrowthSpotter

Sun Terra Communities has closed another blockbuster land deal, this time in the highly desirable Horizon West submarket. The Oviedo-based developer and land banker paid $41.9 million on Monday for an assemblage of 534 acres in the Horizon West Town Center, just south of the Hamlin property.

“As a submarket, Horizon West is the hottest market in the county. That’s what attracted us,” Jerman said. The land is entitled through the Horizon West Sector Plan for up to 1.5 million square feet of commercial use and about 2,300 dwelling units. “It’s like all the town centers — it’s mixed-use,” Jerman said. “The commercial will probably break down more as office uses, since most of the retail is over at (Hamilin Town Center).”

Sun Terra is also working with Hamlin developer Scott Boyd to donate a school site for an elementary and middle school campus in lieu of school impact fees. The developer also will have to make several offsite road improvements, including widening C.R. 545 to four lanes and building a connection to Wellness Way.

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