Celebration, FL, May 27, 2015:
At its May 2015 Commission meeting The Haines City Planning Commission approved a rezoning and annexation request of Celebration Florida based CBD Real Estate Investment LLC. The new zoning will allow CBD to move forward with plans to develop and construct a new residential rental community.
Pretty Pond Estates will be the location of 168 one, two and three bedroom apartments located on 12 acres at the intersection of Pretty Pond and Wire Roads.
Pretty Pond will be a market rate luxury rental community with rents ranging from $725 to $1425 per month. The apartment site is located just north of Florida Hospital, and east of the new Publix shopping Center on Gall Blvd. Construction is expected to commence in the fourth quarter 2015.
According to David Waronker, President of CBD Real Estate, the project will fill a void created by a strong demand for quality affordable rental apartments in East Pasco County. “Our market study concludes that East Pasco, specifically Zephyrhills, demands over 1000 new rental units per year. Currently there are no new rental projects proposed in the City”.
CBD is no stranger to Zephyrhills. Since 1998 CBD has developed twelve housing communities in the City. In addition to Pretty Pond, CBD plans to develop sites which could provide the City with over 2500 more rental apartments.
Wire Ranch is currently in design phase and will be located on 24 acres just north of Pretty Pond off of Gall Boulevard. Wire Ranch is expected to have 320 apartments. The Oaks at Pasco, adjoining the Silver Oaks Golf Course north of Eiland Blvd on Simons Road, is proposed for 226 apartments all with Golf Course views. The Cottages of Silver Oaks, located on Simons Road near the intersection of Fort King Road, is currently in preliminary planning stages on land currently approved for 420 single family lots. If approved, this 160 acre property could have over 1920 garden style apartments, duplex and townhome lots.
“East Pasco County is ripe for development and is in the immediate path of progress. With the rapid expansion of Florida Hospital, private healthcare services, retail, and an expanding highway infrastructure, Pretty Pond as well as well as our other planned communities will be very well received by this underserved rental market”, continues Waronker.