Real estate investment and land asset management company Walton Global purchased 171 acres of land in Webster, Florida, for a planned residential development. The property, called Hamilton, is located off Highway 48 and is an approximate 15-minute drive from adult retirement community The Villages. After the purchase, Walton’s existing portfolio in Florida totals more than 6,500 acres.

“The Hamilton property is located in an emerging area that is expecting substantial residential and retail growth in the coming years,” says Mike Doherty, senior vice president of land at Walton Global. “The population outside of The Villages skews toward a younger demographic, indicating a large presence of family formation that is fueling strong demand for housing.”

The Hamilton property has the potential of delivering approximately 800 single-family homes, according to Walton. The company says Hamilton is an ideal location for commuters to the cities of Tampa and Orlando looking for “attractively priced single-family homes” and access to employment hubs.

“Our builder partners have a high interest in this area mainly due to its appeal to first-time home buyers,” says David Peter, executive president of special projects at Walton Global. “As Walton continues to scale our land holdings in Florida, this is the property we look for along with the builders we work with who are looking to develop appealing communities.”