Emerson Pays 46 Cents per SF for 20 More Acres

ORLANDO-Now that the word is out, Eagle Creek Development Corp. is finding out quickly how land prices shoot up when tract owners learn of a proposed project.

Still two years away from ground-breaking, the subsidiary of locally based Emerson International Inc. paid Orlando owners Edward and Alyce Hansen $400,000 or $20,000 per acre (46 cents per sf) for 20 acres adjacent to the planned 1,209-acre project off Narcoosee Road (State Road 15) in southeast Orlando.

Two years ago, Emerson paid $10.1 million or $8,354 per acre (19 cents) per sf for its initial 1,209-acre spread. Eagle Creek is planned for 2,850 homes, 200,000 sf of retail/office, a 150-room hotel and an 18-hole championship-caliber golf course.