Lake Margaretta Estates

Lake Margaretta Estates is an approved community of 661 single-family homes on about 196 acres in Leesburg, south of County Road 48. The city approved the first phase of 586 homes in 2025 and a second phase of 75 more in 2026. Lots run 50, 60 and 70 feet wide, with at least 68 acres kept as green space. Nothing has been built, no builder has been named, and nothing is for sale.

Nobody yet, and that is worth being straight about. No homebuilder is named in any public record or in any of the local coverage. The land has an approval and a developer behind it, and the next step on a project like this is usually that the land is sold on to one or more builders, each of whom brings its own name, its own floor plans and its own pricing. That is a longer runway than a project with a builder already attached, and it is also why nobody is competing for this community's name yet.

Inside the city. Most of the site was annexed into Leesburg, which is a real difference for your tax bill and one that gets missed: as a city resident you pay both city and county millage, not county alone. In exchange you generally get city utilities, city services and a shorter list of things that need a county trip. It is worth asking specifically which services the city provides at this address before you sign anything.

The approved lot mix for the first phase is 50, 60 and 70 feet wide, weighted toward the 50-foot lots, with roughly a hundred and fifteen of the 70-foot homesites. That is a genuine range rather than one repeated product, and on most communities like this the widest lots are the first to go and carry a premium. Home designs, square footages and which plans fit which lots have not been published, because no builder has been assigned.

No date has been announced and no builder has been named, so the honest answer is that it depends on when the land trades. What normally follows an approval like this is engineering, permitting and a land sale to a builder, then a model and a first release. That can take a year or more. The reason to be on a list this early is that when a builder does take it on, the first release tends to be quiet, and the people who hear about it are the people who asked to.

Nothing has been released and no builder has been named, so any number for this community today would be invented. What we can say about the area is that Leesburg and this side of Lake County have been meaningfully cheaper per square foot than the Orlando metro for new construction, which is most of the reason this corridor is being built out at all. The day real pricing is published for Lake Margaretta Estates, it goes out to this list.

South of County Road 48, east of Number Two Road and west of Trimpi Road, on the southern edge of Leesburg. Individual home addresses have not been assigned yet, so we have not published drive times to the door, because any mileage would be invented precision.

Yes, and you would find that out eventually so you may as well hear it now. The city's own planning board recommended against the first phase and the city commission approved it anyway; the second phase went through on a split vote, with the county objecting. The arguments were about traffic and the pace of growth on this corridor, and they are not unreasonable ones: several thousand homes have been approved in the immediate area. None of that stops the community being built, and it does tell you what the neighbors think and what the roads will be dealing with. Worth knowing before you choose a homesite, not after.

Leesburg sits on the Harris Chain of Lakes, which is one of the best largemouth bass fisheries in the country and a genuine draw rather than a brochure line. Venetian Gardens is the city's lakefront park on Lake Harris with boat ramps, a pool and an event lawn, and the historic Main Street downtown has been coming back for several years. The Villages is about twenty minutes northwest, which puts big-box shopping and medical specialists within reach without living inside an age-restricted community. Ocala National Forest is thirty to forty minutes north.

Nothing has been published for Lake Margaretta Estates. It is worth asking about, because many Florida communities are built inside a community development district, which issues bonds for roads and utilities and repays them through an annual assessment on your tax notice, separate from and on top of HOA dues, sometimes for decades. Since this site is inside the city, ask about it alongside the city millage question, because the two together are what your actual annual cost looks like.

No. Joining is free, it does not obligate you to anything, and it does not create any brokerage relationship. When homes get close to release, a real estate professional licensed in Florida will reach out and can make sure you are properly represented before you ever walk into a builder's sales office, which is the single most valuable thing a buyer can line up in advance.