SCOTTSDALE, Ariz. – Walton, a leading land asset management and global real estate investment company, has completed a 39-acre sale with the largest homebuilder by volume in the U.S., D.R. Horton, in Central Florida’s desirable Ridgewood Lakes, a master-planned community in the city of Davenport.
This transaction, intended for residential home development, complements an earlier closing with D.R. Horton, and represents the kick-off of close to 2,000 acres of future land closings and development that are expected to occur in phases under a series of option agreements between Walton and D.R. Horton over the coming months and years. Land development and vertical construction is expected to begin in the summer of 2022 on several phases, following behind the adjacent Atria at Ridgewood Lakes, which D.R. Horton is building in as well.
Located in the heart of Central Florida’s Polk County, Ridgewood Lakes is near US 27, just 2.5 miles south of Interstate 4, and is a 35-minute commute from Orlando International Airport. Additionally, the property is within reach of many Central Florida’s major attractions – 18 minutes to Walt Disney World, 30 minutes from Universal Studios, and Busch Gardens is just an hour away. Residents of this community can also enjoy world-class dining and shopping with the nearby Posner Park and the Mall at Millenia.
“We are excited to see what the next evolution of the Ridgewood Lakes community will look like with an outstanding homebuilder like D.R. Horton taking the lead,” said David Peter, Executive Vice President for Walton. “The Lakeland-Winter Haven metropolitan area continues to grow at an expediential rate which brings both the Orlando and Tampa markets even closer together.”
Ridgewood Lakes is a privately-gated neighborhood with great local schools. The community plans include a variety of homes from apartments to townhomes to single family detached, all built on all-concrete block construction and equipped with connected smart home technology and stainless-steel appliances.
“We appreciate our great relationship with the Walton team and are looking forward to the growth of this master-planned community which plans to offer a “home for every stage in life®”, said Tim Hultgren, Division President of D.R. Horton’s Orlando West division.
Davenport and Polk County have seen a population renaissance over the past decade as the population has increased by 20%, with over 725,000 residents in the area. Conveniently situated between Tampa and Orlando, this region has become a leading contributor to the state’s economy in citrus, agriculture, and phosphate industries. With stunning natural landscapes, it considered the true heart of Central Florida.