Fort Lauderdale-based BTI Partners bought 3,200 acres in Clay County for $93 million Aug. 15 with plans to create neighboring master-planned communities totaling 6,500 acres.
The property BTI bought is south of its Laurelton community in Green Cove Springs, west of U.S. 17 and north of property owned by Florida Power & Light.
Laurelton, formerly known as Governors Park, is a 3,300-acre master-planned community now in development.
BTI advanced plans for phase one of Laurelton in June 2024 when it applied for a permit. It acquired the land for the community in 2022 for $85 million.
On Aug. 15, BTI bought six parcels through Bellamy Property Holdings LLC. The seller was Fernandina Beach-based Shield Properties, through Sandricourt Farms LLC.
The parcels will be developed as housing, parks and trails, schools and other amenities. More than 51% of the property will remain open space, BTI said in an Aug. 18 news release.
“Clay County is currently experiencing significant growth, but new development needs to be consistent with the long-term vision of its stakeholders,” BTI Chief Information Officer Justin Onorato said in the news release.
“By preserving more than half of this special property as open space and planning homes, trails, schools and neighborhood necessities together with nature, we’re creating a compelling, daily human experience and lifestyle for future residents and the surrounding area.”
By comparison, the Nocatee community in St. Johns County is 14,000 acres. The Wildlight community in Nassau County is 24,000 acres.
Jacksonville-based England-Thims & Miller is the civil engineer for Laurelton.