August 4, 2015
CBD Real Estate Investment LLC announced today the acquisition of 23.5 acres off of Pearce Road in the unincorporated area of Auburndale. The Seller was W @ F Central Florida Citrus LLC of Winter Haven. A September 15, 2015 is set. The buyer will be a division of CBD, a company known as “Berkley Ranch Investors LLC.” Price of the cash sale was not disclosed.
The acreage was a former citrus grove and currently zoned for single family homes. CBD also acquired a half-acre of land giving the company access directly to Berkley Road, just south of the new four lane Highway 559A. Here CBD will a wonderful entrance to the property and also will gain economic access to Auburndale Utilities. The site is expected to be developed for 94 single family lots.
The land is located within the boundaries of the I-4 Parkway DRI plan, and, is currently zoned Rm 4X. CBD may seek to request an increase of density to density compatible to its neighboring properties to the north. There densities of 8-9 units per acre are allowed. Conceivably this could double the density of the 23.5 acre vacant parcel.
The entire area is being redeveloped from Interstate 4 to the Polk Parkway. Currently there are major road improvement projects on Berkley Road, Highway 559 to downtown Auburndale, and on 559A directly to the subject property. CBD will call this new development “Berkley Ranch.” No start date for the new project has been announced.