"It's a great start to what we believe is going to be one of our most successful development to date," Tom Liebrecht, vice president/general manager for Terrabrook's Orlando division, tells GlobeSt.com.

Vista Lakes is between State Road 417 and Narcoosee Road (County Road 15), northeast of the airport in southeast Orlando.

Leading the sales pack is Ryland Homes with 10 sales for $1.56 million. Engle Homes is next with six sales for $1.2 million. Park Square Homes did five sales for $780,000.

"We wanted to head into the new year with momentum and we believe we have done just that, registering better than $3 million in pre-sales," Liebrecht says.

Fueling Liebrecht's optimism is the completion of the community's $2 million, water-themed Resident's Club; the opening of two new gated neighborhoods (Carlisle and Waverly); the addition of Morrison Homes and David Weekly Homes to the construction roster; and the association with three-time Olympic Gold Medal swimming champion Brooke Bennett as a corporate ambassador of several community programs.

But the developer is counting on a key element shortly that is expected to trigger a sales avalanche--the opening of four major roadways linking Vista Lakes to the rest of metro Orlando.

Those arteries are Lee Vista Boulevard, Chickasaw and Econlockhatchee trails and the State Road 417 Greeneway Exit at Lee Vista Boulevard, a half mile east of the community.

Vista Lakes is the developer's first new venture in Central Florida. Terrabrook acquired the almost sold-out 4,000-acre Hunter's Creek mixed-use community three years ago. A target ground-breaking date for the commercial component hinges on the pace of the residential sector, the company says.

Terrabrook is developing or managing the development of 49 communities in 13 states and Puerto Rico. Besides Orlando, the firm is in major markets such as Atlanta, Charlotte, Dallas, Denver, Houston, Phoenix, South Florida, Tampa, Southern California and Washington, DC.

Instant Insights /

Dallas-based Terrabrook Racks Up $3.4 Mil in Pre-Sales at New Project

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