American Servicing Corp. announced it will be developing eight 1.5-acre lots at 2415 NW Catawba Rd., Port Clinton as Peach Tree Estates. (Photo by D’Arcy Patrick Egan)

American Servicing Corp. of Findlay, Ohio has acquired the 21-acre peach orchard of the late Robert Gustav Schraidt and his family and will break ground in mid-July on eight 1.5-acre lots to be known as Peach Tree Estates at 2415 NW Catawba Rd., Port Clinton.

Lots will sell for $499,000.

Tim Runion of American Servicing Corp. said roads in the 21-acre development will be named by the Schraidt family. American Servicing Corp. will design the development with a pristine agricultural feel on land that once supported 1,500 peach trees, said Pat Schraidt.

“There will be a 160-foot by 150-foot pond within the development,” said Runion. “We will be keeping the original house and barn with updates.”