Parkland Preserve will have 360 home sites on 275 acres.
More age-restricted residential homes are planned for St. Johns County, as D.R. Horton will bring its Freedom Homes active adult brand to the World Golf Village area in a partnership with Chase Properties Inc.
Chase Properties, in conjunction with NGMB Properties LLC, last week announced Parkland Preserve, a gated community northeast of the Interstate 95 and International Golf Parkway interchange.
The 275-acre development will comprise 360 single-family and 109 multifamily homes for ages 55 and older. Most will have a lake or preserve view.
Homes will be priced from the high $200,000s and will be 1,600 to 2,000 square feet.
“Chase Properties is excited to be working with D.R. Horton on this development opportunity,” said Chase Properties CEO Michael Balanky. “Parkland Preserve’s proximity to the World Golf Hall of Fame and its world-class golf courses, beaches, dining, health care and shopping make it one of the best locations for an active adult community in the country.”
The number of Americans 65 and older is expected to increase from 47.8 million in 2015 to 79.2 million by 2035. Households headed by the 55-plus population will comprise 45 percent of all households by 2019.
The property was purchased from the Fletcher Davis Company and was brokered by CRES Commercial Real Estate Inc. and CBRE. Project engineering is being performed by Kimley-Horn Engineering. Groundbreaking is expected in the second quarter of 2018.
Other age-restricted communities in St. Johns County include Del Webb Ponte Vedra, Cascades at World Golf Village and Bridge Bay at Bannon Lakes.