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6,700-acre property going for $8.3-million

A developer with offices in Port Richey and Miami is in the process of buying a 6,700-acre tract of land for $8.3-million from the estate of Otto Pottberg. Sanford "Sandy" Miot, a past president of Arvida Southern, a division of Arvida Corp., said he intends to adhere largely to the plans that already have been drawn up on the property, between State Road 52 and the Starkey Wellfield.

He said he might even keep the name originally suggested for the full-scale development: Serenova.

The property is going through the state process as a development of regional impact (DRI) because of its size. Miot said he thinks the DRI process will be completed during the next few months.

Another developer, David Williams of New Port Richey, had agreed to buy the property for $8-million, but the deal fell through.

"He just decided not to pursue it," said Bill Glover, owner of William A. Glover and Associates, an agent handling the trust.

Serenova's plans outline nearly 9-million square feet of commercial, industrial and office space and about 7,000 homes.

"At a minimum, it certainly is the size of a small city," Miot said.

A past president of the Florida Home Builders Association, Miot calls Serenova's blueprint a good plan for what he considers a rare piece of land.

"About 3,000 acres of it is open area, meaning area that will either be green areas or lakes or wetlands, or something like that," he said. "It will be a very open, low-density kind of community."