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1. Project Coral Falls Condominiums Resort - Naples, FL, USA: Project description: The 64 condominium of “Coral Falls Resort” located in Lely Country Club at US41 in Naples, Fl distributed over three buildings, of which the largest building in the center (II) consists of four floors, eight condominiums per floor. Buildings I and II at either end contains 16 units each. The buildings are separate and accessible by elevators and/or protected staircases. By situating the buildings in a half-moon configuration, the oversize tropical pool with waterfall, and spa, surrounded by an abundance of flowers and shrubs, will be like a gem in a precious setting. Other amenities include: •3-Championship golf courses with 18 holes (1 private, 2 public), •A planned sports and activity center, •Flamingo-Mustang Clubhouse (no membership or minimum required), •37 lakes available for fishing (residents only), •More than 15 miles of foot and bike paths, •Lely Freedom Square shopping center featuring banks, supermarkets, drugstore, restaurants, and a variety of other stores. Each condominium in “Coral Falls Resort” features: •Two bedrooms, •Two baths, •Living-Dining room combination, •Fully equipped kitchen, •Houskeeping area, •Screened-in lanai The air conditioned space is about 1,077 sq. ft., excluding lanai. Total 1,177 sq. ft. The proximity of “Coral Falls Resort” to all types of recreational activities and other attractions makes this a most desirable location: Living area: approx. 1,177 sq. ft. Lanai: approx. 100 sq. ft. Date 2004 – 2005 Status Completed - SOLD Construction Costs and Gross Sales Construction costs including land $ 8,700,000 Gross Sales $10,000,000
Marketing and Sales Preconstruction price $120,000 per unit Sales price final $180,000 per unit Resale price up to 2006 $310,000 per unit; current $240,000 Marketing status SOLD 100% ********************************************************************************************************************** 2. Project Sans Souci Bay - Cape Coral, FL, USA: Project description IAK Florida Builders, LLC (IAK) has a contract to purchase 47.0+ acres of land which is located in the Northwest Cape Coral on Old Burnt Store Road as the PDP process is approved. IAK is requesting a rezoning of the 47.0+ acre site from its current zoning classification of Agricultural (A) and Residential District (r-1A) to an updated classification of Residential District (RD). It is the intent to request approval of the stating rezoning through the Planned Development Project (PDP) approval process for the multi-family residential project known as Sans Souci Bay in 2008. The property is located in the northwestern area of Cape Coral and is very unique in that it abuts the Charlotte Harbor Aquatic Preserve on both the north and west property lines. The site is comprised of eight (8) parcels (ranging in size from + .75 acres to + 10 acres for a total of 47.0+ acres). The project fronts on Old Burnt Store Road and is located approximately 660-feet from intersection of Old Burnt Store Road and NW 40th Lane, in GAC Unit UP13. The subject is located in a future land use category designation of Single-Family/Multi-Family by PDP and is located in the Urban Service Reserve Area. These eight (8) parcels will be consolidated into one strap number for the master condominium and will not require subdivision by plat. The legal description of each individual condominium unit will occur simultaneous with State approval of the final condominium documents. IAK is requesting approval of the proposed development which consists of high-rise tower (18 habitable floors over 2 levels of parking), mid-rise towers (4 habitable floors over 1 level parking), villas (2-story) and town homes (2-story) with garages, tennis courts, a children’s pool, and a hot tub/spa. The units will be conveyed by fee simple ownership and the project will not be considered as a resort rental community. The project includes: 48 Townhomes, 32 Villas, 420 High-Rise units, 8 Penthouse units, 1 Clubhouse, 1,444 Parking Spaces. 120 Mid-Rise units, mixed use. IAK will provide an on-site wastewater treatment facility and potentially reverse osmosis water treatment facility and potable water storage tank in the event that connections to a public water system are not feasible. These facilities will be owned, operated and maintained by the Master condominium Owners Association (COA) and would be removed from service and dismantled when connection to public utilities become available. Based on the projected construction date for the North Cape Wastewater Treatment Facility of (2012) and the proposed project phasing schedule, it is anticipated that Village I will be the only project phase to utilize an on-site wastewater treatment facility. We would extend a forcemain from the project to the new plant prior to occupancy of any units in Village II. If we were to choose to utilize the city water for Village I occupancy, we would extend the waterline to the project from the closest city facility prior to occupancy of Village I. All proposed roads and driveways within the property will be privately owned. The project will have an internal storm water collection and management system for the treatment and detention of storm water runoff that will be designated in compliance with the City of Cape Coral and SFWMD criteria. Both the streets and storm water management will be maintained by the Master Condominium Association. A protected species assessment has been conducted by W. Dexter Bender & Associates, Inc. and is included with this submittal. There are gopher tortoises on site and we are exploring options as to how to deal with them. They are free from URTD, we plan to relocate them to Lee County Public Park where they want to reintroduce the species. No other protected species are present or in proximity to the site. This project was designed to enhance the existing community by incorporating a concept of classical Mediterranean style residential villages as opposed to the typical conventional single family project that dominated Cape Coral. Each of the three (3) independent villages consist of two (2) 20-story (18 habitable stories over 2 floors of parking) high-rise buildings (both towers in each village sharing the 2-level parking garage) with 2-story townhomes lining the parking garage this shielding it from pedestrian view at street level. In addition, each village has a series of 2-story villas that are oriented across the street from and facing the townhomes to provide a continuation of the pedestrian scale design concept which was the goal of this project. This unique compact design of villages provides for vertical development that will allow for more than half of the project site to remain as open space. The five-story building which lines the entry road and Old Burnt Store Road will act as exterior liner building to provide a buffer between the towers and any single family properties surrounding the project, the open spaces within the site were designed to allow for the existing views and vistas of the Charlotte Harbor Aquatic Preserve and the surrounding areas. The on-site man-made lake with littoral plantings and enhanced landscaping exceeding the identified minimum land development code requirement will create nesting habitats for migrating and year round birds and other wildlife. The site plan identifies a centrally located clubhouse with community pool, hot/spa tub, children’s pool, tennis courts, and other recreational amenities together with individual pools at each village to provide on-site amenities for its residents. In addition, the project offers a private gated entrance to provide added security for its residents. These on-site recreational amenities will serve to lessen the demand the project has on public facilities. Finally, because of the projects proximity to the aquatic preserve, we are proposing to enhance and maintain the existing nature trails winding through the preserve from the project to the shore line of the Charlotte Harbor Aquatic Preserve so that it can be enjoyed by not only the residents of the project, but also by the surrounding neighborhood residents, visitors and general public alike. This is an opportunity for the community to have improved access to its local nature, wildlife in its natural habitat, fishing, swimming, and view of natural beauty of sunset over the water. Date 2007 - 2017 Status At this time, IAK is in the PDP (Planned Development Project) process for the Rezoning and site plan approval. City Staff has approved the project, City Council has denied the project. IAK has filed a Master Special appeal at this time to resolve the issues. Construction Costs and Gross Sales Construction costs including land $400,400,000 Gross Sales $588,985,000 Marketing and Sales Preconstruction price Starting at $295/sq. ft to $445/sq. ft Sales price final Market situation Marketing status PDP - Rezoning
3. Project Park Regency (an ALF project) - Fort Myers, FL, USA:
Project description In intent it was planned to develop 162 residential condominium units. Market conditions changed, and the owners have explored other possible uses for the site, including senior housing. Site Summary Site Size (Acres) 10.04 acres Shape Irregular Zoning B-2, Business District Two Zoning Compliance Legal, approved use Utilities All municipal utilities available The subject is a proposed multi-building senior housing campus. When complete, the facility will contain 175 resident units (see Proposed Unit Mix chart below). The campus will support service programs targeted toward the 75+ age group that will provide meal service, unit housekeeping, transportation services, and a scheduled activity program. Personal care services will be provided to the physically frail and dementia populations. The personal care program will require state licensure (see Legal Constraints Analysis). The site plan provided shows a four building campus; two Independent Living (IL) buildings, one Assisted Living (AL) building, and a separate dementia care building. The developer also envisions a second phase of up to 75 additional units in two buildings (one IL and one AL). The site plan also shows a medical office building in the southeast corner of the site. The DC building will be a single-story structure located on the north portion of the site. The floor plan schematics show a central core and three resident wings. The central core will house administrative areas, the dining room, and activity rooms. The kitchen for the DC building is intended to be a prep kitchen only; with meals cooked in the main kitchen that will be housed in the AL building. Each resident will have 10 studio units with a living room and staff area. Each wing will also have a separate, secured courtyard. The AL building will anchor the south portion of the site. It will have three floors. The first floor will contain the main support areas (administration, marketing, and a resident aid station). It will also house the main kitchen for the entire campus. The entry will have a central living room design and lead to the two elevators. The main dining room and a private dining room will also be on the first floor. Eleven resident units are also planned for the first floor. The upper floors will consist of residential units. A living room and other common areas will be adjacent to the elevator lobby on each upper floor. Two IL buildings are planned. They will be located in the central portion of the site overlooking the conservation area. The IL buildings will be similar design with an L-shaped footprint and three stories. All resident units will have full kitchens, three fixture baths and a private porch/balcony. The first floor of each building will house its common areas (fitness center, great room, and dining room). As with the DC building, meals for the IL program will be prepared in the AL building. A small living room will be located adjacent to the elevator lobby on each floor. There will be two elevators serving each IL building. As proposed, the subject will have characteristics of both the independent living communities and assisted living residences based on definitions in the Senior Housing Classification jointly developed by the American Seniors Housing Association (ASHA) and the National Investment Center (NIC). State licensure laws vary considerably, and following the general discussion, we address the Florida laws and regulation that will impact the subject. Independent Living Communities: Age restricted multifamily rental properties with central dining facilities, that provide residents, as a part of their monthly fee, access to meals and other services such as housekeeping, linen service, transportation, and social and recreational activities. Such properties do not provide, in a majority of the units, assistance with activities of daily living (ADLs), such as supervision of medication, bathing, dressing, toileting, etc. There are no licensed skilled nursing beds in the property. Assisted Living Residences: State regulated rental properties that provide the same services as independent living facilities, but also provide, in a majority of the units, supportive care from trained employees to residents who are unable to live independently and require assistance with activities of daily living (ADLs) including management of medications, bathing, dressing, toileting, ambulating and eating. These properties may have some nursing beds, but the majority of units are licensed for assisted living. Many of these properties include wings or floors dedicated to residents with Alzheimer’s disease or other forms of dementia. A property that specializes in the care of residents with Alzheimer’s disease or other forms of dementia that is not a licensed nursing facility should be considered an assisted living property.
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