Wampold buys more land for Longwood Village

Developer Mike Wampold has exercised an option for an additional 606 acres by his Longwood Village mixed-use community. Wampold bought the land for $908,700 from the Gianelloni heirs in a deal that was filed Friday. He bought the initial 520 acres between Nicholson Drive and Spring Lake from the family in 2005, paying $11.8 million for the land. The lower price reflects that much of the land in the new tract is low, Wampold says. “This will be the recreational component,” he says, with lakes, stables and jogging trails. Longwood Village will be a “community of the future” with single-family homes, office space, retail and schools, Wampold says. The project had its conceptual use plan approved by the Planning Commission in 2006, but Wampold is waiting for the market to rebound before he starts developing the 1,506-acre site, which includes 350 acres he bought in June for $5 million. “We’ve got some engineering going on out there,” he says. “But we’re not in any big hurry.” For the rest of Real Estate Weekly, click here.—Timothy Boone