Taylor Morrison buys land in Hacienda Lakes of Naples

BUYER: Taylor Morrison of Florida Inc., Sarasota
SELLER: Hacienda Lakes of Naples LLC
PROPERTY: a portion of land east of Collier Boulevard surrounding Florida Sports Park and to the north and south of the Physicians Regional Medical Center, Naples also known as tract A, Hacienda Lakes of Naples
PRICE: $19.94 million
PREVIOUS PRICE: $63.72 million, December 2012 (includes multiple parcels)
LAW FIRM ON DEED: Coleman Yovanovich & Koester PA, Naples
PLANS, DESCRIPTION: Taylor Morrison of Florida purchased 152 acres in the proposed master-planned community of Hacienda Lakes of Naples for $19.94 million.

The price equated to $131,151 per acre.

Taylor Morrison plans to create a neighborhood of Mediterranean-style homes on the property it is calling Esplanade at Hacienda Lakes. The property, which features nearly 30 acres of lakes, will contain more than 400 villas and single-family homes. Homes will range in size from 1,500 to more than 3,000 square feet.

The community will have a clubhouse, swimming pool, sport courts, a pet park, playground and bocce ball courts.

Development of phase one is scheduled to begin this summer, with the first model homes opening by 2014.

Hacienda Lakes of Naples is a 2,262-acre planned development with 1,760 homes. It is also proposed to house 327,000 square feet of retail space, 70,000 square feet of professional and medical office space, 135 hotel rooms, a 140,000-square-foot business park or educational facility, and a public school. More than 1,500 acres will be left as preserve land.