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Wheelock Acquires 6,000-acre Tract Near Orlando
January 3, 2022
Wheelock Communities recently completed the purchase of 6,000 acres in south Osceola County, Florida, known as Green Island Ranch, for $150 million. In partnership with Osceola County-based Gentry Land Company, Wheelock plans to develop the land which is entitled for a premier mixed-use development.
Owned by the Partin family for more than 100 years, Green Island Ranch was once part of the largest ranch east of the Mississippi River and now is the county’s largest single land sale in more than a decade. The property is adjacent to the Florida Turnpike and has more than two and a half miles of frontage on Lake Tohopekaliga, the seventh-largest lake in Florida.
In 2008, a Development Regional Impact (DRI) plan for 13,000 residential units with additional commercial and mixed-use projects was approved on the land. Subsequently, the Osceola County Commission added the South Lake Toho Conceptual Master Plan (SLTCMP) to the Osceola County Comprehensive Plan, in an effort to guide future growth and development within the South Lake Toho planning area. The SLTCMP provides a balance of social, environmental and economic sustainability achieved through long-range, large-scale planning. As a result, the Green Island Ranch land will support nearly 17,000 residential units, recreational amenities, more than 5 million square feet of commercial, office, and industrial uses, and 500,000 square feet of civic uses to create a flexible environment to meet the lifestyle needs of future residents.
“I am proud of our development team that worked hard to make this deal happen,” said Dan Green, president of Wheelock Communities. “We will practice good land stewardship as we guide the property through the next phases of development.”
“This is a long-term project with tremendous potential and major regional impacts,” said Reed Berlinsky, president of Gentry Land Company. “Our immediate focus will be on developing the initial neighborhoods where infrastructure is currently available.”
Wheelock Communities and Gentry Land Company have a successful history of working together since 2010 when they developed Randal Park in southeast Orlando, followed by the award-winning master-planned community of Starkey Ranch 30 minutes north of Tampa International Airport.
Rosewood Hotels and Resorts today announced the brand's first stand-along residential project spearheaded by luxury real estate developer The Ronto Group and capital partner Wheelock Street Capital. The 65-unit luxury condominium project is located on Lido Key off the coast of Sarasota, Florida. Rosewood Residences Lido Key will occupy 3.5 prime acres of beachfront real estate. The building is designed by Miami-based Swedroe Architecture, with interiors spearheaded by New York-based Lillian Wu Studio. Combining exquisite Gulf of Mexico views with unmatched amenities and services, each of the property’s 65 residences will be designed in accordance with Rosewood’s guiding A Sense of Place® philosophy, wherein the sensibilities of the locale inspire the distinctive style and programming provided at each respective Rosewood destination. The residences will average approximately 4,200 square feet in size and showcase state-of-the-art finishes and features. The onsite amenities will include a private restaurant and chef services for in-residence dining and catering, world-class fitness center with options for private training and yoga sessions, outdoor pools, massage rooms, private guest suites with housekeeping service, lounge featuring library and game room, and a 24-hour concierge all managed by Rosewood. Pricing has not yet been announced.
For the second year in a row, Starkey Ranch achieved "Top 50" status in the prestigious annual sales ranking of master-planned communities conducted by John Burns Real Estate Consulting, LLC. Starkey Ranch builders sold 450 homes in 2019, placing the community at #30 natonally in the rankings, and #1 in the Tampa Bay metro market. In 2018, Starkey Ranch was ranked #29 with 437 sales. Since home sales began in May of 2015, the community has logged 1,457 new home sales. Current builders include Taylor Morrison, Homes by Westbay, M/I Homes and Pulte Homes. Read the full story HERE .
Wheelock Communities today announced its acquisition of Hidden Creek Country Club, a private golf club in Reston, Virginia, from Fore Golf Services. Fore Golf will continue to manage the property. Hidden Creek includes a 36,000 square-foot clubhouse, an 18-hole course, swimming pool, and indoor and outdoor tennis courts. Over the next few years, Wheelock will work in partnership with the Reston community and Hidden Creek club members to explore potential changes to the property that could provide the Reston community with additional public amenities, environmental benefits and new housing choices. “Hidden Creek Country Club provides us with a unique opportunity to be a part of the nationally recognized and highly respected Reston community,” said Wheelock principal Dan Green. “We look forward to being an engaged member of the community and adding to what makes Reston such a special place to live, work and visit.”
Wheelock Street Capital announced today it has sold the remaining land assets of Devonshire, a 925‐acre Dallas‐area master‐planned community, to Haynes Development Company and Avanti Properties Group. The sale included 119 finished lots, 241 lots under development and 1,350 future lots. Wheelock acquired land assets and partially completed lots at Devonshire in early 2014 from Hunt Properties. At that time about 250 homes had been built and sold by home builders. In the subsequent three years, Wheelock brought in four new builders to expand the range of home plans offered to buyers. Builders have sold 412 homes in the past 36 months at Devonshire, at prices ranging from the low $200,000s to the low $400,000s. Builders currently selling in Devonshire include Highland Homes, Bloomfield Homes, Gehan Homes, Pulte Homes and Beazer Homes. Devonshire is located 20 miles east of Dallas, in the suburb of Forney just of Highway 80 at FM 548. The community was established in 2008 and features a resort‐style clubhouse and pool complex, amphitheater, playgrounds, trails and ponds. Wheelock became a major player in Texas residential development in 2010 when it purchased 3,200 lots in partnership with McGuyer Homebuilders (MHI). Wheelock went on to acquire and develop master‐ planned communities in the Austin, San Antonio, Houston and DFW markets. In 2015, Wheelock sold the Canyon Falls community in Flower Mound and Sweetwater in Austin to Newland Communities. It sold Stillwater Ranch in San Antonio to RSI Communities late last year. Haynes Development Company has been developing residential and mixed‐use projects in the North Texas region for more than 30 years and is currently involved in six residential communities in the DFW metroplex. Avanti is a national land investment firm based in Winter Park, FL, and is currently active in six community developments in Houston and Dallas.
RSI Communities LLC, a California- and Texas-based homebuilder and developer, today announced its purchase of Stillwater Ranch, a master-planned community in San Antonio, from Wheelock Street Capital. Through the agreement, RSI takes on the roles of developer and homebuilder and is expected to build 780 new single-family homes on the remaining undeveloped land in the community. Located on 830 acres in northwest San Antonio, Stillwater Ranch features an amenity center with a 6000 sq. ft. pool, fitness room, lighted tennis and basketball courts, shaded playground, a four-mile trail system, and a top-rated elementary school. Six homebuilders are currently offering new homes from the low $200,000’s to mid $400,000’s. RSI will continue relationships with the community’s existing builders to complete the projected final buildout of 2,300 homes. New home sales began in Stillwater Ranch in 2007. Wheelock Street Capital acquired the community in early 2011 and has since repositioned the community, and developed more than 1,000 lots which have been sold to regional and national production homebuilders. In 2015 the real estate research firm Metrostudy ranked Stillwater Ranch the #1 selling community in San Antonio, and #23 in the nation, based on closings. “Stillwater Ranch has been one of our company’s most successful master-planned communities,” said Mike Rafferty, Wheelock’s regional partner for Texas. “All of our builders have enjoyed excellent sales velocity over the past five years and we expect that trend to continue with RSI until the community is completed.”
ODESSA, Fla. -- The most prestigious competition in the home building industry, The Nationals, has named Starkey Ranch a silver award winner for its top honor - 2016 Master Planned Community of the Year. The Tampa Bay community was one of six contenders in North America for the award. The winners were announced at the International Builders Show, the annual conference of the National Association of Home Builders, in Las Vegas on January 19. This year The Nationals received over 1,300 entries across 57 categories. “The Starkey Ranch team set out to create a place that truly stands out from other new-home communities, and this award validates our efforts,” says project director Matt Call. “We’re honored to be the only Community of the Year finalist east of the Mississippi.” A team of judges selected the Community of the Year based on entries in seven categories—logo design, brochure, website, signage, sales center and landscape design. Starkey Ranch is designed and marketed as a place that connects residents with nature and with each other—honoring its Old Florida ranching roots, but providing the latest new-home designs, amenities and programs for active families of all ages. Starkey Ranch is located on State Road 54, four miles west of the Suncoast Parkway in Pasco County. The community is approved for up to 5,050 residences, and is planned to include a 20-mile trail system, 150 acres of parks, a K-8 school, a public library, community theater, business park and commercial center. Model homes by M/I Homes and Ryland Homes are now open, and additional models by Taylor Morrison and Homes by WestBay will open in the Spring of 2016. Prices begin in the upper $200,000s. The community Welcome Center and builder models are open Monday-Saturday from 10 a.m. to 6 p.m., Sunday from 12 to 6 p.m. For more information go to StarkeyRanch.com or call 813-925-9777.
PulteGroup, Inc has completed the acquistion of the homebuilding assets of John Wieland Homes and Neighborhoods from affiliates of Wheelock Street Capital and the Wieland family. As part of the transaction, PulteGroup acquired approximately 7,400 controlled lots and 280 homes in backlog. Headquartered in Atlanta, Wieland ranks among the country's 100 largest homebuilders and is a leading builder of luxury homes in Atlanta, Charleston, Charlotte, Nashville and Raleigh. In the 12 months ended September 2015, Wieland delivered approximately 565 homes at an average selling price of $495,000 and generated $280 million in revenue. "Having worked for Pulte earlier in my career, I have a strong appreciation for the proud history, reputation for quality and dedicated professionals in each organization," said Gregory Huff, Chief Executive Officer of John Wieland Homes. "We look forward to joining a national homebuilder where we share the same beliefs with regard to delivering superior product quality and outstanding service to our customers." Wheelock acquired John Wieland Homes and Neighborhoods in November 2012.
PGA legend Hal Sutton, the designer of the top-ranked Boot Ranch golf course in Fredericksburg, Texas, met with the community's ownership group in December 2015. From left: Jonathan Paul, Jeff Laliberte, Lawrence Settanni, Sutton, Rick Kleeman, Mark Enderle and Mike Rafferty. Sutton is leading the team designing renovations to the bunkers and greens that will be completed later this year. The Boot Ranch course opened in May 2006. The 2,050-acre private Boot Ranch community was acquired by a partnership between Wheelock Street Capital and the Terra Verde Group in August 2015.
U.S. Amy veteran Sergeant Kyle Snyder received the keys to his new Lennar home in Traditions at a community ceremony on October 27th. Snyder became the eleventh Hero Home recipient through "Operation Coming Home," a program organized by the Home Builders Association of Wake County. Wheelock Communities donated the lot, and Lennar coordinated donations of time and materials from their vendors. Snyder was wounded in service by a suicide bomb explosion in Afghanistan and spent three years in recovery and rehabilitation. His new neighbors gave him a warm welcome to Traditions.
Traditions at Wake Forest was voted the 2015 North Carolina Community of the Year by the North Carolina Home Builders Association. The honor was announced at the recent STARS Awards gala Traditions was also honored with the Best Brochure for a Community award. The community has also won previous STARS Awards that include Best Recreation Center, Best Landscaping and Best Land Plan. Traditions offers homes crafted by the best builders in the Research Triangle region, with homes from the $190s to $800s. Learn more at TraditionsNC.com
