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Orlando

Bradford Kline entity pays $62M for entitled site near Orlando

Meritage Homes attached to 3,000-acre Ormond Crossing project in Volusia County

Bradford Kline Entity Buys Volusia County Development Site
Ormond Crossing site (Google Maps, Getty)

The Volusia County site of a planned development valued at more than $1.5 million has sold.

An LLC connected to Maryland-based developer Bradford Kline & Associates paid $62 million to buy the 3,000-acre assemblage from an LLC tied to the Ford family of DeLand, the Orlando Business Journal reported. 

The deal closed for almost $20,700 per square foot on Dec. 5. Michael and Robert McEwan of CBRE marketed the property.

The development, Ormond Crossing, is a fully entitled master-planned community in Ormond Beach. Plans for the development date back to at least 2002, and the property has changed hands more than once since then. The Ford family bought it in 2016.

It is near Interstate 95 and U.S. 1, and a $340 million upgrade of that interchange is planned.

Kline tapped Scottsdale-based Meritage Homes to develop Ormond Crossing’s single-family homes, and Kline will develop the multifamily portion. About 3,000 residences are planned.

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The development is also entitled for 200,000 square feet of retail and 2.5 million square feet of commercial space, including office and industrial.

Included in the sale were several hundred acres reserved for greenspace and wetlands that will not be developed.

Grading and utility construction is expected to start within the next year, Kline told the outlet. About 450,000 square feet of the commercial space is in design.  

Kline’s firm has a 40-year history of developing mixed-use projects in Maryland, Virginia and Delaware. Kline bought an oceanfront mansion in Highland Beach in 2021, the outlet reported.

“That area is really the next frontier of growth for Central Florida,” said Brad Parker a broker with Southern Realty Enterprises, who was not involved with the deal. “You’re seeing Volusia County come into its own, and it has tremendous potential.”

—Rachel Stone

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Master Planned CommunityMultifamilyResidentialSingle-family
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