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Tavistock Development pays $64M for 3 Orlando, Fla., land parcels

An affiliate of Tavistock Development Co. LLC, TDCP LLC, acquired about 1,147 acres south of Orlando International Airport in Orlando, Fla., for $63.9 million, the Orlando Business Journal reported, citing the company.

The transaction, which is valued at roughly $55,700 per acre, was carried out with the Greater Orlando Aviation Authority and the city of Orlando, according to Orange County records.

In total, Tavistock purchased three land parcels, two in Orange County and one in Osceola County, which will be used to build a part of the Poitras planned development, located west of Narcoossee Road in Orlando.

Tavistock spokeswoman Jessi Blakley told the paper that the project will offer 2,973 homes, 100,000 square feet of commercial use and a school on 25 acres. The company earlier requested the city's approval for rezoning the property as a planned development with aircraft noise, the May 17 report noted.