$100,000 Gift to Eustis Opens Door to $100M Residential Project

(To read more on the multifamily market, click here.)

EUSTIS, FL-Cambridge Homes, an Altamonte Springs-based homebuilder, has voluntarily presented a $100,000 check to the City of Eustis. The payment is in exchange for Eustis officials halting their protest of a 118-acre annexation nine miles away near the City of Tavares.

Eustis elected officials had maintained earlier the land should be annexed by Eustis, not Tavares, because a portion of the dirt lies in Eustis and in unincorporated Lake County. Their protest to the Florida Department of Community Affairs could have delayed the Cambridge project, sources tell GlobeSt.com. The state agency is scheduled to review the annexation later this year