Janice Summers, president and owner of Janice Summers Realty in Winter Haven, tells GlobeSt.com Florida-based Oak Hill Estates Partnership sold the 2,250-acre site to ABD for $31 million, or about $13,778 per acre (32 cents per sf). Summers negotiated the deal for the seller.

The site is at the intersection of US 17-92 and County Road 54 in the Loughman-Davenport submarket of Polk County. ABD plans to build an undetermined amount of homes itself and sell the balance of the dirt to other builders. ABD's townhome segment of the project will be at Gain Lake within the 2,250-acre tract. Prices at the planned gated community are expected to start at $150,000.

ABD, a Central Florida developer for 15 years, is also building homes in Greystone and Whitney Isles at the Reserve at Belmere and at Stoneybrook East, both in Orange County.