ORLANDO-Gearing up for an anticipated economic upturn over the next two years, elected officials in St. Cloud, FL (Pop. 20,777) have contracted to buy the 525-acre Stevens Family Ranch for $8 million or $15,238 per acre (35 cents per sf) where the city plans Stevens Plantation, a speculative 102-acre corporate campus, 400 executive-styled houses and a business park with an undetermined amount of retail/commercial.

St. Cloud is talking with private developers to do the project which has a tentative completion date of early 2005. The site is east of Canoe Creek Road and south of Fertic Road in unincorporated Osceola County, about 20 miles south of Walt Disney World. The project would be 30 minutes from Downtown Orlando.

City council still has to approve the land purchase at a public meeting Nov. 14. The city anticipates a proposed new Florida Turnpike interchange will be built at Kissimmee Park Road that will trigger commercial/retail/industrial/residential development near the Stevens Plantation site and allow motorists to bypass heavily trafficked U.S. 192 while traveling to and from the planned project.

An Osceola County developer, not associated with the city’s spec venture, tells GlobeSt.com on condition of anonymity St. Cloud can always recoup its land purchase investment if the project fails by selling the dirt to a third party.

“The city bought the dirt at a good price so it will have no problem getting its money back or even making a small profit on the sale if it has to go that route,” the broker tells GlobeSt.com.

St. Cloud covers 9.75 square miles in a county that encompasses 1,467 square miles. St. Cloud officials couldn’t be reached at GlobeSt.com publication deadline.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.