On October 1, 2015, CBD Real Estate Investment LLC entered into an agreement of sale with TCM Florida XI LLC to acquire the asset known as “The Links at Silver Oaks.”
Currently, the overgrown and abandoned “Links at Silver Oaks” is approximately 21 acres of developed land located on the Silver Oaks Golf Course off of Simons Road and Fort King Road in Zephyrhills, Pasco County, Florida. The site is approved and significantly improved for 122 duplex lots. Outstanding approvals and improvements to the site include the Simons Road improvement plan and road opening permits from Fort King Road to the northern entrance of the development site, relocation of Duke Energy Utility Tower, completion of on-site improvements including paving, utilities, and lighting, as well as final site grading and landscaping. Also to be completed are Department of Community Affairs’ approval for a homeowners association and plat recording.
CBD is acquiring the site for an alternative plan. It is the goal of CBD to amend the existing approval from 122 duplex units to 92 single family lots. Of course, to perfect this change CBD will have to redesign and amend the engineering to the site, make significant changes to on-site improvements, as well as complete offsite improvements including completion of Simons Road’s permitting and approvals, installing part of the Simons Road improvements, permitting with the City and County, and completing amended on site improvements including utilities, landscaping, and community features (signage, common area improvements.)
From the time CBD takes title to the property it expects all approvals and work to be completed within 7-9 months
CBD has been trying to negotiate with Trax for three years for the acquisition of the site. On October 1, 2015, CBD finally received a signed contract with TCM Florida XI LLC and the land is being purchased from TCM Florida XI LLC for $1,175,000. Closing is set for the fourth quarter of 2015.
CBD Real Estate Investment LLC is a Celebration based real estate investment, development and building company with additional offices in Arizona and New Jersey.