NAI Realvest/Charles Wayne Commercial recently closed on the $10.5 million sale of just under 300 acres on Fort Florida and Barwick roads in DeBary. A new 700-unit community called Rivington is planned by the buyer, Reader Communities of Orlando and Raleigh, N.C.
Rivington is the new name for Fort Florida Commons, a residential planned-unit development approved by the DeBary City Council in 2016.
Steve Costa, principal at NAI Realvest/Charles Wayne Commercial, represented the seller, Empire Cattle Ltd. The company is a third-generation, family-owned, ranching and citrus operator with landholdings in Putnam and Volusia counties, including development parcels in DeBary and Lake Helen.
Costa said this new-home community will be unique to DeBary and is across the highway from The Junction, the 68-acre Charles Wayne mixed-use development that includes bungalow homes and apartments currently under construction, plus 104,000 square feet of retail space with a major grocery store.
Reader Communities is developing a residential community on the property with traditional elements such a walkability, shared green spaces, and alleys to accommodate rear-entry garages.
Homes will range from 1,500-square-foot and larger townhomes to single-family homes that will top out at around 3,000 square feet, according to Jeff Reader, vice president at Reader Communities.
The master-planned-community developer markets and sells developed homesites to national homebuilders. Rivington will be developed in several phases of 100 to 200 lots at a time, and Reader expects homes will be priced from the low $200s to the high $300s.
“This parcel is ideally situated for a new neighborhood development located just over the St. Johns River from the Lake Mary/Sanford employment centers via easy access to 17-92 and Interstate 4,” said Costa.
Rivington is a walkable transit-oriented development (TOD), immediately adjacent to DeBary’s TOD and less than a quarter-mile west of the DeBary SunRail station. The convenience to major arterial highways provides its residents with easy access to everything Orlando and Central Florida offer.