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Taylor Morrison, D.R. Horton subsidiary acquire land in east Pasco

The companies buy much of the planned River Landing development

Taylor Morrison and a D.R. Horton subsidiary are new neighbors in east Pasco.

Both companies now own significant portions of land designated as the River Landing development along State Road 56 near Morris Bridge Road between Wesley Chapel and Zephyrhills. Taylor Morrison purchased nearly 700 acres for $23.5 million from the Linville family’s Zephyr Egg Co. in late December. The home builder then flipped 188 acres to Forestar USA Real Estate Group for $10.36 million, according to public records.

Forestar, a wholly owned subsidiary of D.R. Horton, primarily focuses on developing single-family residential communities for entry-level, first-time homebuyers or those moving up to a larger home for the first time, according to the company’s web site. Its River Landing property is on the north side of SR 56. Taylor Morrison, based in Arizona, retained 508 acres on the south side of SR 56. The home builder already has a presence in Pasco County where it is building in Starkey Ranch in Odessa and in Watergrass and Chapel Chase in Wesley Chapel.

River Landing, a more than 800-acre project, was planned originally for 1,999 homes. Last year, Pasco commissioners agreed to amend the entitlements to allow 250,0000 square feet of retail space and 150,000 square feet of offices. Zephyr Egg Co. retained ownership of 113 acres including parcels at the two western corners of SR 56 and Morris Bridge Road.

The 6-mile long extension of State Road 56 from Wesley Chapel to U.S. 301 in Zephyrhills opened in summer 2019. The new four-lane road is expected to help accelerate significant development in southeastern Pasco. A portion of the highway’s construction costs must be borne by the planned development. River Landing, one of four developments along the route, is responsible for nearly $6.9 million, or 10.5 percent of the road’s cost.