ORLANDO, Fla., July 11, 2011 /PRNewswire/ -- Stratford Land, a Dallas-based land investment firm, and Boyd Development Corporation, an Orlando-based real estate development firm, have closed on approximately 600 acres of property in Horizon West in Orange County, Florida. The property, referred to as "Town Center East," is situated on the northeast and southeast quadrants of the Western Beltway (SR 429) at the New Independence Parkway interchange.
Boyd Development is working with Orange County to secure the road agreements necessary to extend New Independence Parkway and North Porter Road. These additions to the existing road network will provide residents with improved access to the Beltway.
"This project is the culmination of two-and-a-half years of work with this development group to provide much needed connectivity throughout the area and onto SR 429 for thousands of residents in west Orange County," said Orange County District 1 Commissioner S. Scott Boyd. "This will be the first development in the 'Town Center,' and it will provide essential jobs and infrastructure for the west Orange County community."
Once the initial planning phases are complete, Boyd/Stratford plans to position the property as a master-planned, mixed-use project with a strong, unified identity. The land, which is bordered on the east by Lake Hancock, has more than two hundred acres of prime residential land with approximately three miles of lakefront.
"The size and scope of 'Town Center East' will allow us to create a unique blend of high-density commercial uses – which was Orange County's primary intent for the 'Town Center' – with what we believe is some of the most desirable lakefront residential land in all of Orange County," noted Scott Boyd, president of Boyd Development Corporation, (no relation to Commissioner S. Scott Boyd). "Today, nearly 18,000 residents live within the area east of the SR 429 and New Independence interchange. By the time 'Town Center East' is fully developed, the population in the immediate market area is projected to increase three to four times."
"'Town Center East' is an exceptional opportunity with existing land uses already in place for retail, medical, office and other commercial uses, as well as prime residential land all situated at, or close to, a major interchange along SR 429," said Ryland Lucie, director of investments in Florida for Stratford Land. "The property fits perfectly with Stratford Land's strategy of acquiring well-positioned land in areas primed for growth."
About Stratford Land
Stratford Land has 25 years of successful land investment management and financing on behalf of institutional investors. Based in Dallas, Texas, the fund focuses on acquiring properties in high-growth corridors in Texas, Arizona, southern California, Colorado, Tennessee and the eastern seaboard from Virginia to Florida. Regional offices are currently located in Phoenix, Atlanta, Denver, Jacksonville and Raleigh. www.stratfordland.com
About Boyd Development Corporation
Founded in 1991, Boyd Development Corporation is an Orlando-based real estate development company that focuses on creating value by acquiring well located land that can be used for mixed-use development. Depending on the needs of a specific property, Boyd may engage in master planning activities, work to obtain, modify or enhance entitlements, and vertically develop various types of commercial and residential projects on the land. Key principals within the firm have combined expertise that spans 80 years, and collectively have developed dozens of projects in the Central Florida market area.
SOURCE Boyd Development Corporation