The owners of 242 acres located south of Ronald Reagan Boulevard are exploring options to sell the nine parcels to a developer for a single-family subdivision.
AVID/McAdams held a pre-application meeting with Polk County on June 17 to gather feedback from county planners regarding a proposed 525-lot planned development on the site. The proposed single-family subdivision is expected to feature a mix of 362 40-foot lots and 163 50-foot lots.
The request for 40-foot-wide lots will require Planned Development (PD) approval by the Planning Commission, which is a Level 3 review, according to the county comments.
Connection to potable water, reclaimed water and wastewater will be a challenge as the mains are located under pavement. The mains are located adjacent to the site within the Ronald Reagan Parkway right-of-way. An MOT (maintenance of traffic) plan will be required for planned road closures to perform the work.
The site is off County Road 54 W, about one-half mile west of Lee Jackson Highway.
Sean Fullerton, a commercial real estate broker, has represented the three families who own the land for several years.
“It took some time to get this assemblage put together, that is why I have been working on this for so long,” Fullerton said. “These are old-time Davenport families.”
They are:
- The Redgraves – 180 acres
- The Loebers – 20 acres
- The Dudneys – 43 acres
The Redgrave property was used as grazing land for cattle, while the Loeber family owned a mobile home park for many years. The Dudney family operates a business called Dudney Ornamental Iron on their property and homestead, which is the only parcel with frontage on Ronald Reagan Parkway.
To the west of this site are Solterra Resort homes, to the south is Aldea Reserve subdivision, and to the east is Providence Golf and Country Club community.
Fullerton noticed that since Pulte announced its $51M purchase for the site of the next resort community in Davenport, many other national builders have been interested in the area.
“We wanted to make sure we had a strategy in place first, because we know it is going to take some time to work with the county on this large of a project,” Fullerton said. “We want it to be beneficial for the owners and the community since it is already a busy area and high density. It takes time, skill and compromise.”
Fullerton will begin accepting letters of interest for the property after completing the pre-application process. The current asking price is $32.5 million. Fullerton is open to all national and local builders and developers for this project. The project would likely be permitted for development in several phases.
“The frontage along Ronald Reagan Parkway is the linchpin to this development; without access to the parkway, it would make things much more difficult,” he added.
The owners wish for the project to harmonize with the surrounding area and nature, as this land has been an open space for generations. The Redgrave family would like their name to be associated with the project, possibly as a park, amenity, or wetland preserve, according to Fullerton.
Fullerton is selling a 24-acre property just north of Ernie Caldwell Boulevard in Davenport. They are currently exploring entitlement options after a sale fell through.
They are looking to build a 240-unit apartment community on the site.
The property is located on CR 547 and LaRoche Road, just west of the company’s industrial site, Loughman Yard, which is leased to Martin Marietta Materials. It was rezoned from Employment Center to Residential Medium (RMX), which allows multi-family, townhomes and single-family homes.
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