The price equates to $19,728 per acre or 45 cents psf. Orlando'sHeidrich family has owned Magnolia Creek since 1952.
The tract is approved for 1.2 million sf of business/flex park;500,000 sf office; 400,000 sf of retail; 1,152 multi-family units;2,500 single-family residential units; and three 18-hole golfcourses.
The residential first phase of 300 acres fronting on Interstate4 and County Road 545 is scheduled to break ground by yearend. Ginnis acquiring the tract in three phases over 2 1/2 years. Thefirst-phase takedown is 630 acres.
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