Developer Bobby Ginn is paying meat products manufacturer Lykes Brothers Inc. and Hyponex Corp., both of Tampa, FL, $10.6 million or $8,908 per acre (20 cents per sf) for 1,190 acres at Montverde, FL. Ginn plans to develop a 500-home, two-golf course community with a buildout value of at least $75 million, local brokers following the project tell GlobeSt.com on condition of anonymity.

Ginn is paying more per sf for its rural dirt than the Pritzker family of Chicago, owners of the Hyatt hotel chain, is paying the city of Orlando for 1,093 prime acres at the closed Orlando Naval Training Center in one of the most desirable commercial/residential locations in Orlando.

Pritzker's development division, headed by Penny Pritzker, is paying Orlando $7.54 million or $6,898 per acre (16 cents per sf), as GlobeSt.com previously reported. The city, in turn, is giving Pritzker a total economic incentives package valued at $122 million over 20 years. Pritzker's Baldwin Park project broke ground last month.