New Master Planned Community Coming to Zephyrhills
Celebration, FL May 10, 2016:
CBD Real Estate Investment LLC announces the approval for a new master planned community to be built on 167 acres to be known as “The District at Abbott’s Square.” The District at Abbott’s Square will be a traditional neighborhood development of 124 single family, 44 duplex, 152 townhome and 768 multifamily garden style home sites. There will also be approximately 21000 feet of retail space, all designed with active and passive recreation.
The project name was taken from the original name of Zephyrhills from the 1890s when the community was known as “Abbott’s Station.” The development site is on the north end of Dean Dairy Road and west of Simons Road between the Silverado residential home site and the Silver Oaks Golf Course. Plans for the development were approved at first reading by Zephyrhills City Council after the conclusion of the public comment period.
According to CBD President David Waronker, “we will have a lot of engineering and permit work to do before this project breaks ground. But we do hope to begin construction by the fourth quarter 2016.” Per the terms of the approval, CBD shall be obligated to permit and improve Simons Road from Fort King Road to Eiland Boulevard. In addition, Dean Dairy Road will be improved from Eiland to the southern entrance to the development site. CBD has also agreed to dedicate 4.77 acres of the property to the City, which this City plans to use for the development of a public tennis center with multiple courts, snack bar, pro shop, and restroom facilities. It is hoped that eventually the tennis facility will be able to host various tennis competitions. The developer also will make a voluntary contribution to the city planned “Reimagine Gall Boulevard” effort to revitalize Gall Boulevard and its commercial district.
“We have been developing land in Zephyrhills since 1998. This is our eleventh project and we are committed to the betterment of the City and its residents. Whatever we can do to help the City grow and improve the quality of life of its current and future residents will be done”, continued Waronker.
CBD Real Estate is a regional developer with offices in Mount Laurel New Jersey and Celebration Florida. For more information on CBD please visit its website at www.gocbd.com.
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.
October 25, 2015
CBD Real Estate Investment LLC announces that it has entered into an agreement of sale to purchase an 82 acre orange grove located off of Campbell Drive and Dr Welch Road in Dundee, Polk County, Florida. This property is currently approved for 272 single family detached home sites, and is known as “The Estates at Vista Ridge.”
CBD will rename the property “The Groves at Lake Annie.” There are no immediate plans to change the existing approvals, and, construction is not anticipated to start on site until the fourth quarter 2016. The property is being purchased from an affiliate of Saunders Realty of Lakeland Florida for an all cash price of $1,210,000. Closing is anticipated to occur in the first quarter of 2016.
The Groves at Lake Annie LLC will be the new owner of the land and will make a significant investment in the existing grove to increase productivity while it waits for the local land values to rise. Currently the grove is at less than 50% productivity and CBD will investment roghly $100,000 to replenish trees, fertilize and insecticide the land in hopes to increase the quantity and value of the citrus.
“This is a beautiful property with easy access to HIghway 27 and all of Central Florida. The views of Lake Annie are spectacular. Eventually this property will be the home for 272 families”, said David Waronker, President of CBD. Dundee is known as the “Orange Growing Capital of World and offers some of the most beautiful land in all of Florida.
October 25, 2015
CBD Real Estate Investment LLC of Celebration Florida has entered into an agreement of sale to purchase a former 30 acre orange grove located off of Scenic Highway and Race Road in Dundee, Polk County, Florida. Here CBD plans to develop 105 single family detached home sites in a community to be named “Valencia Ranch at Dundee.”
The property was approved back in 2005 for a planned extension of the fist two phases of the existing “Vista Del Largo” project. The thirty acres is currently approved for 70 townhomes and 57 single family lots. CBD plans to amend the existing townhome approval for an additional 48 single lots.
The land is being purchased from AG Investments of Lakeland Florida for $298,000 in an all cash transaction. Closing is set for late December 2015.
October 12, 2015
CBD Real Estate Investment LLC as General Partner for its two investment companies Washington Station Investment Limited Partnership and Washington Venture Investment Limited Partnership has intervened in the proposed affordable housing plan of Washington Boro, Warren County New Jersey.
CBD seeks to include its 110 acre property off of Main Street (Highway 57) Nunn Road, and Mill Pond Road for the development of 540 three story garden style apartments, along with roughly 18 acres set aside for an expansion of the existing Washington Cemetery. For the housing, 20% of the rental units shall be set aside for affordable low and moderate income residents. This will help the Boro satisfy part of its estimated 225 affordable housing unit obligation. The housing development would be named “Washington Station.”
CBD and its affiliates have owned the land in the Boro for 20 years, and, the land is currently used for forest management. It is also leased seasonally to a local hunting club.
The company recently filed an intervention action to the Boro’s current affordable housing plan. CBD is represented by Carl Bisgaier, Esq along with planner Art Bernard and engineer Adams Rehman and Heggan. If approved the site could be under construction as soon as local, county and state permits are obtained.