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GROVELAND, FL-Tuscanooga Lakes LLC of nearby Clermont has added a 1,928-acre tract for pennies-per-sf to its existing 372-acre parcel on Highway 33 north of State Road 50 in South Lake County. The developer plans to create a 2,300-acre equestrian-oriented community at the former citrus grove. The developer previously bought the 372-acre parcel from Hart Citrus Nurseries.

Tuscanooga Lakes paid Mt. Dora landowner Chris Rogers $7.6 million, or $3,941 per acre which equates to nine cents per sf. Lake County industrial brokers tell GlobeSt.com they have not heard of dirt selling for that low price in years. Principals at Tuscanooga Lakes, a division of GreenStyle Communities, couldn’t be reached by GlobeSt.com’s publication deadline to learn additional details of the transaction.

The planned development, Tuscanooga Lakes, will comprise five-acre ranch-styled homes surrounding a full-service equine boarding and training facility, and a series of equestrian trails. NAI Realvest of Maitland and Brandeburg Development of Leesburg handled the transaction for buyer and seller.

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