Developer Acquires 3,300-Acre Development Site In Southern Clay County For Planned Mixed-Use Community

Fort Lauderdale-based BTI Partners, one of Florida’s largest master-planned community developers, continues to expand its footprint in Florida with the acquisition of approximately 3,300 acres of Governors Park for $85 million in Southern Clay County. The developer acquired the development site from The Davis family and The PARC Group, which closed on Friday, December 16, with plans to build 4,000 single-family homes and 2,000 multi-family units on the newly acquired site in the Green Cove Springs area. Further plans include using 840,000 square feet for commercial/retail space, 700,000 square feet of office space, 400 hotel rooms, 2 million square feet of light industrial, and an 18-hole golf course.

 “This transaction highlights BTI Partners’ strategy of acquiring large tracts of land to develop mixed-use communities in Florida’s high-growth markets,” said BTI Partners CEO Noah Breakstone. “Our next step is to put the infrastructure in place and partner with home builders who will be looking to grow their housing inventory south of Jacksonville in the next two to four years.”

While Florida has an adequate amount of rural land positioned for development to accommodate the continued demographic growth, the lack of infrastructure needed to support new residential communities is a big challenge for homebuilders. It can take two to four years to prepare land for vertical development. BTI Partners buys the land, builds the infrastructure, and gets it ready for home builders, which need to access ready-to-build land. We continue to be bullish on the Florida housing market in the short- and long terms.

BTI Partners already has a large presence in Florida. This project’s development will cater to Florida’s strong demographic growth and demand for land, which has accelerated during the post-pandemic period. The developer is also active in Central Florida, where it is building the infrastructure of 1,400-acre Crossprairie and 1,200-acre Edgewater West. It also owns 1,100 acres in the Lake Wales area of Polk County for future homes and a town center.

Subscribe to YIMBY’s daily e-mail

Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews