DR Horton Inc. has purchased 279 acres of land to build a 550 home subdivision off New Berlin Road, according to property and zoning records.
Hobart Joost Jr. and Guy Preston with Colliers International of Northeast Florida represented the seller in the $4.5 million transaction.
First Citizen’s Bank & Trust Co. sold the property.
Joost said DR Horton plans to do two phases on the property. He noted that several other residential projects, mostly apartments, have started construction in North Jacksonville, attributing the increase in interest from residential developers from Amazon deciding to build a more than 2-million-square-foot fulfillment center near the Jacksonville International Airport.
That project is expected to create more than 1,500 jobs.
The 279 acres that DR Horton Inc. purchased was rezoned earlier this year.
Read the full article from bizjournals.com, here.
