July 9, 2014
CBD Real Estate Investment LLC announces plan to develop four new housing projects to Haines City.
David Waronker, President of CBD, announced today that its Celebration based real estate investment and development company has purchased four properties in the City where is plans to construct over 3000 housing units and over 70,000 feet of retail and office space.
Bonnies Landing, 78 acres located at the intersection of 30th Street and Robinson Road, currently is approved for 248 single family home sites. CBD is making application for a large scale rental community of 1128 apartment units in three story building. The community with have walking trails, two community centers, two pools, tennis and bocce ball courts, dog park, car cleaning center and both an adult and family club house. CBD estimates that the $101 million project could start construction as early as the first quarter of 2015.
Liberty Bluff, 19 acres and located off of Hinson Road, near the intersection of Power Line Road, is proposed to be a gated medium density market rate rental housing community of 248 units. The three story buildings will have one to four three bedrooms, covered parking, and be developed in a traditional neighborhood setting. The complex will have common area features including a pool, clubhouse, kiddie park, dog park, car cleaning center, laundry facility, along with other active onsite recreational communities. CBD expects this project to be ready for $22.9 million project to be ready for construction by the fourth quarter 2014.
Bella Dane Estates, 39 acres located one mile west of Power Line Road on the south side of Johnson Road, will eventually be known as the “Gateway to Haines City.” This location shows on the County and City master plans as being the future main entrance into the City. State and County officials propose a super highway extension of the Polk County Parkway, eventually connecting the Parkway to Interstate 4. Johnson Road will have a major interchange on Johnson Road, and, Bella Dane will be built within 900 feet of this interchange. Along with over 70,000 feet or retail and office space, Bella Dane proposes to have 428 total for sale and rental housing, a mixture of single, town homes and condominium garden apartments. The community is being designed for single active adults, young urban professionals with middle to upper incomes. CBD has not announced any estimated project costs, and does not expect to construct this site until 2016.
CBD is also in discussion with its partners to develop yet a fourth rental community located on 68 acres it already owns near Grace Road and 30th Street. Here, CBD proposes another high density rental community geared towards a more affluent, upscale market. CBD is preparing a market study to determine the highest and best use for the land.
“We see a tremendous increase demand nationally, regionally, and most specifically locally for affordable market rate for sale and rental housing. We recognize that although unemployment is slowly decreasing, so have the pocket books for the vast majority of those looking for new housing. There is no secret that those looking for housing have less to spend, but want now more than ever the best value for their hard earned dollars”, says Waronker. He further states that the housing market is different than it was at the bottom of the
recession. “Before, the demand for housing was based on need. You just had to have a place to live, you needed shelter. Today, it is need accompanied by desire. And that creates a market which scrutinizes product, location and most importantly price.”
When asked about the large number of units proposed by his company for this Polk County City, Waronker first explains that CBD must still receive all local, county and state zoning planning approvals for each of the projects but once approved all projects will be highly desirable communities with tremendous demand for quality of life
each community shall provide its future residents. He says “For nine months CBD has been in informal discussions with Haines City officials about its various proposed projects and will continue to work closely with the City to make sure that each project is properly planned and developed for not just the future residents, but most importantly for the current residents of the City and the County. I can tell by my meetings with the City that they care a great deal about its current residents, stresses on the city infrastructure including schools and roads. The City demands and deserves a strong say in how each project eventually will be developed and constructed. We respect, appreciate and will follow the direction of all City officials.”
CBD Real Estate Investment is a real estate investment and development company with offices in Celebration Florida, Mount Laurel New Jersey and Scottsdale Arizona.
CBD REAL ESTATE INVESTMENT LLC