5022 Loughman Rd Davenport, FL 33896

This exceptional 15.91-acre residential development opportunity in Davenport, Florida, presents a unique chance to acquire a partially completed project with significant groundwork already in place. Located at the intersection of Ronald Reagan Parkway and Westside Boulevard, across from the Omni Hotel and ChampionsGate, this property boasts prime location advantages. The project, known as Westside Lakes, is zoned RL-4X & RMX, allowing for Residential Low and Medium density development. Phase 1, currently 25% complete, includes 24 townhomes and 7 single-family residences, with horizontal infrastructure and vertical construction underway on 14 of 15 planned buildings. Permits are being renewed to facilitate swift project completion. Phase 2, encompassing 2.10 acres, is in the conceptual stage and envisions 64 condominium units, offering substantial future development potential. Upon completion of Phase 1, the development will feature 31 two-story homes totaling 107,394 square feet of gross building area (including balconies and lanais) and 90,510 square feet of gross living area. The 15.91-acre site includes 7.74 acres of usable area, with Phase 1 occupying 5.64 acres. This distressed sale presents a compelling investment opportunity in a high-growth area, just 45 minutes from Downtown Orlando and minutes from ChampionsGate, Reunion, and Posner Center, benefiting from high commuter and tourism traffic. The property's strategic location and existing infrastructure provide a significant advantage for a buyer seeking to capitalize on the strong demand in the Davenport real estate market.