Richmond American Homes has shelled out $28.5 million for a 111.4-acre stretch of Lake Apopka shoreline in Montverde, locking up 137 entitled single-family lots that are slated to become The Point at Montebella. The property hugs the western edge of Lake Apopka and comes with roughly 3,000 feet of waterfront, which could allow private docks on some homesites. The transaction ranks among the largest recent lakefront land sales in Lake County and plants a national homebuilder squarely in Montverde’s tight market for premium lots.
Details of the purchase
According to GrowthSpotter, Richmond American closed on the land with Paramount Development, which was operating as Montverde Landco LLC, for the site located east of Kirk Island Lane and north of Oscgood Road. GrowthSpotter reports that the community is planned for 137 lots, with widths of roughly 60 to 80 feet, and home footprints anticipated between about 2,400 and 4,000 square feet. Planned neighborhood amenities include a cabana and resort-style pool, playground, event lawn, shaded pocket parks, and a landscaped linear park.
The report also notes that some lakefront parcels will come with the option to build private docks, and that the builder is weighing ultra-garage options sized for RVs and boats, a nod to the waterfront and outdoor-focused lifestyle the site is expected to attract.
Builder's pitch
The community presented a rare opportunity to acquire entitled lakefront lots within a highly constrained A+ submarket," Kelli Tolocka, president of Sekisui House’s U.S. division, told GrowthSpotter. The outlet also notes that Richmond American has been active in Lake County lately, including a 2025 deal for 90 lots in Seaport Village in Tavares for roughly $10 million.
Where this fits for Sekisui
As outlined in a press release on NASDAQ, Sekisui House agreed in January 2024 to acquire M.D.C. Holdings, Richmond American's parent company, in a transaction valued at about $4.9 billion. The combination has given Sekisui a broader scale in the United States and, according to company materials, a mandate to chase premium land positions and move-up product in growth markets.
Montverde market
Montverde is an established, upscale enclave in Lake County that is known for equestrian estates and lakefront living. Local market data shows tight inventory and firm pricing, with average list prices near $1.5 million and a median sold price around $910,000 over the past 12 months. MaxLife Realty notes that limited lot supply and the town’s premium character make lakefront sites especially coveted.
What to watch next
Richmond American's move adds higher-end lakefront inventory to a market where such parcels are scarce, and the rollout strategy will be closely watched. Key questions include how the builder sequences lot releases and whether dock permits are pursued for the shoreline lots. Local brokers and buyers are likely to track The Point at Montebella as it moves through permitting and into vertical construction.
