Boston-based Freehold Capital Management plans to bring an “Agrihood” community called Saratoga Springs with as many as 4,489 homes to Clay County.
Freehold, a property development company, bought 2,445 acres in Green Cove Springs for the development Jan. 10 for $70.02 million.
The property, east of Florida 23, also called the First Coast Expressway, is bisected by Cathedral Oak Parkway, which is under construction.
It is west of the Willow Springs and Magnolia West communities and Spring Park Elementary along Florida 315.
Freehold acquired the property through SRTG Dev Owner LLC. The seller was Orange Park-based Reinhold Corp. through Peters Creek Investments LLP.
Andrew Smith, vice president of operations for Freehold Capital Management, said Jan. 13. the property will be developed as a master-planned community.
According to the Freehold Communities website, the Saratoga Springs “will feature acres of farmland, miles of scenic trails, and robust amenities, all designed to foster a healthy, sustainable lifestyle.
“Residents will enjoy farm-to-table living, with open spaces that encourage outdoor activities and a strong connection to nature. With thoughtfully crafted homes and a vibrant community spirit, Saratoga Springs promises to be a place like no other, where modern living meets the beauty of rural Florida.”
Freehold Communities is part of Freehold Capital Management.
Freehold Communities says “Agrihoods are defined as an organized community that integrates agriculture into a residential setting.”
It has been developing them in Florida.
Freehold’s 2,300-home Arden community in Wellington, 22 miles west of Palm Beach, features a 5-acre farm and event barn. It also has a clubhouse with a pool.
In Orlando, The Grow is a 1,200-acre mixed-use subdivision centered in a 9-acre farm.
Freehold is the developer of Shearwater in St. Johns County. That community along County Road 210 in northern St. Johns is 1,500 acres with plans for 2,000 homes.
Freehold sought to develop a 3,300-home “Agrihood” community along County Road 214 in St. Johns, but those plans were denied in November by the County Commission.
Freehold also has developments in South Carolina, North Carolina, Tennessee, Texas and California.
Plans for development in the area are not new. In 2005, the Daily Record reported that LandMar Group planned to develop a 4,300-home Saratoga Springs as a “grand resort” heritage of the late 1800s.
LandMar and its parent company filed for bankruptcy in 2010.
J. Brooks Terry and Scott Sailer contributed to this report.