With plans to turn the site of a horse farm into a luxury gated subdivision, Orlando-based developer Elevation Development and Waad Capital LLC recently purchased 152 acres for its proposed Horse Club at Tavares community.
Operating as Tavares Land LLC, Elevation and Waad Capital bought the land from De Pasquale Real Estate LLC for $12.9 million earlier this month.
The Horse Club at Tavares is planned as a 198-lot estate subdivision located west of Lake Rooster along Shirley Shores Road in Tavares.
The site of the proposed subdivision is currently home to De Pasquale Equestrian, a full-service equestrian training and boarding facility that serves riders and horse owners from all over Central Florida. The company is planning to relocate in order to make way for the transition to residential development.
Jawaad Khanani, Managing Partner at Waad Capital, said the project is currently in the planning development process with the City of Tavares.
“The city has set a high bar for this corridor — half the site preserved, larger homesites,” Khanani said. “We designed to it instead of negotiating against it.”
With minimum 100-foot-wide lots and development requirements stipulating that at least 50% of the site must remain as open space, the density of the proposed community has dropped significantly from the original plans.
Initial plans for the site included over 400 homes, consistent with the estimated density of 3-4 units per usable acre. But the city’s planning staff showed a clear preference for larger lots and more open space, so the developer redesigned the project as a low-density, gated subdivision in response to that feedback.
“It’s no secret entry-level [homes] are taking the discounts these days, while move-up product has held up a bit better,” Khanani said. “That’s largely supply-driven. Fewer groups pursue low-density development, under two units an acre.”
Amenities within the development will include pocket parks, passive green space, a community dock on Lake Rooster, and a trail network.
“At this density, the park gets to be the main character,” Khanani said. “About 30-plus acres at the center of it.”
Site work for the project, according to Khanani, is expected to start next year in Q1 of 2027.
Horse Club at Tavares sits about a 10-minute drive from The Vias at Round Lake in Apopka, another gated community by Elevation Development planned for 244 homes across a mix of 70-foot and 80-foot homesites.
The Vias at Round Lake would cover 115 acres and feature executive and estate-style homes.
About two and a half miles west of the Horse Club at Tavares site, Lake County Commissioners recently selected a Maryland company to build a cottage community in Tavares as part of a federally funded housing initiative.
Originally planned as transitional housing exclusively for veterans, the Lake County Sheriff’s Office recommended expanding the potential clientele due to the proximity to the Lake Technical College firing range. It will now also serve individuals and families seeking stable housing.
Set to rise on a 3.11-acre parcel at the northwest corner of County Road 561 and Frankies Road, the project is adjacent to the Lake Area Radio Kontrol Squadron, or L.A.R.K.S, flying field and is planned to contain 21 detached, cottage-style homes. Of the 21 homes, 18 will contain one bedroom and three will serve as ADA-compliant two-bedroom units.
Funds provided by the federal American Rescue Plan Act, or ARPA, will support full construction and land development services for the proposed project, estimated at just under $5 million.
Have a tip about Central Florida development? Contact me at jwilkins@orlandosentinel.com or 407-754-4980. Follow GrowthSpotter on Facebook and LinkedIn.
