For the last several months, Dora Parc, the 38-lot subdivision on Mount Dora's southern border, has been up for sale.
Best known for the oversized plastic penguins at its entrance, the hillside development on Clayton Street broke ground in 2015. After purchasing the land for $1.6 million in 2014, the property’s owner is reportedly asking $3.5 million.
After two years, the gated 22-acre subdivision features a wall, two unsold model homes, 36 unsold vacant lots, a paved street, a walking path and street lights. The community had planned for boat houses with access to Lake Dora via a narrow canal. According to the development's marketing information, the slips have been approved by St. John’s Water Management.
In July of 2015, five home models were advertised ranging from 2,574 to 3,365 square feet and priced from $429,000 to $526,000. Later the development advertised homes with boathouses from the low $500,000s. No sales were recorded. Custom estate homes on 1-acre lots in nearby subdivisions have been selling for less cost per square foot.
Recently, Dora Parc's tall overgrown grass was mowed and the colorful penguins were removed.
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BUSINESS & REAL ESTATE