Spaulding Point DevelopmentSpaulding Point Development

JS Hovnanian Portfolio

Project: Spaulding Point Development, LLC. was engaged by Westport Capital Partners to assist in the underwriting and coordination with the development partner, K2 Management.  The Due diligence included market research, product pricing and absorption, permit and entitlement research, contract negotiation and financial modeling.

Size: A portfolio of 8 separate highly leveraged properties owned by JS Hovnanian builders.


Cecil Bank Portfolio

Project: Spaulding Point Development, LLC. was engaged by Westport Capital Partners to assist in the underwriting and coordination with the development partner, K2 Management.  Due diligence included market research, product pricing and absorption, permit and entitlement research, contract negotiation and financial modeling.

Size: A portfolio of 9 separate distressed bank owned properties.


Tuscany Reserve


Project: Master planned community in North Naples which includes an 18 hole golf course and clubhouse.

Involvement: Assisted WCI* with the disposition of the asset in 2008.  The asset was sold for $62M.

Size: 461 acres
*Danville Leadbetter was an employee of WCI Communities from 2007-2012.


Parkland Golf & Country Club

Project: Gated master planned community with a 43,000 square foot sports and social club, multiple tennis courts, an 18 hole golf course, and fountains behind every home.  Prices range from the mid $600’s to well over $2M.

Involvement: Managed the asset through bankruptcy and during the period of construction pause post-bankruptcy.    Assisted WCI* in the completion of many of the community’s required subdivision improvements and in the disposition of Parkland Golf and Country Club in 2009 as a part of the strategic plan of reorganization allowing WCI to meet its $300M debt obligations within the first 12 months of emergence.  The asset was sold for more than $36M.

Size: 790 acres

 


The Colony

Project: Gated, master planned community including high rise residences, coach homes, villas, and single family homes.  Amenities include an 18 hole golf course, multiple clubhouses, a canoe launch, and a beach park.

Involvement: Design, permitting, and construction of two separate subdivisions (Cielo and Terzetto) a total of 159 units priced from the $500’s to over $1M.  Worked closely with the City of Bonita to overcome politically charged neighborhood objections.

Size: 809 acres

*Danville Leadbetter was an employee of WCI Communities from 2007-2012.


Heron Bay

Project: This is a large, master planned, gated community which straddles both Coral Springs and Parkland, Florida.  Hero Bay includes two large clubhouse facilities, multiple sport courts, an 18 hole championship golf course, and miles of walk trails and sidewalks.  Homes range from the $300’s to well over $2M.

Involvement: Worked directly with the city mayor, commissioners, and staff to obtain WCI’s* first development approval post-bankruptcy and following the 2006 Chinese Drywall issues.  This was a heavily contested approval.  Designed, permitted, and built more than 300 home sites in three separate subdivisions and began entitlement work on the remaining two subdivisions totaling nearly 150 additional home sites.

Size: 1200 acre residential community
*Danville Leadbetter was an employee of WCI Communities from 2007-2012.


Hammock Bay

Project: This is a gated, master planned community designed with three different multifamily lifestyles, a 26,000 square foot clubhouse, and an 18 hole golf course.

Involvement: Assisted WCI* with completing its final infrastructure obligations and turning over the common elements to the association.  Managed the asset through bankruptcy and during the period of construction pause post-bankruptcy.

Size: 247 acres
*Danville Leadbetter was an employee of WCI Communities from 2007-2012.

 


Old Palm Golf Club

Project: Old Palm Golf Club is known for its 33 acre golf practice facility and for its Raymond Floyd designed championship golf course. Its 43,000 square foot clubhouse offers concierge service, guest accommodations, spa and salon services, dining, and a fitness center. With only 294 homes, this community offers a small town charm and is one of the most exclusive golf clubs in Palm Beach County.

Involvement: Managed the asset through bankruptcy and during the period of construction pause post-bankruptcy.   Successfully managed to complete a contested turnover of the City of Palm Beach Gardens potable water well field that was situated within the master planned community to Seacoast Utility Authority.  Assisted WCI* in the disposition of Old Palm Golf Club in 2009 as a part of the strategic plan of reorganization allowing WCI to meet its $300M debt obligations within the first 12 months of emergence.  The asset was sold for more than $40M.

Size: Master planned community from $1M to over $10M.

*Danville Leadbetter was an employee of WCI Communities from 2007-2012.


Pelican Preserve

 

Project: A large, master planned, age restricted, gated community with a 70,000 square foot town center, 27-Hole championship golf course, and a 24,485 square foot clubhouse.

Involvement: Assisted WCI* in the design, permitting, and construction of five subdivisions totaling more than 500 units.  Completed the final utility turnover of multiple legacy subdivisions to the City of Fort Myers.  Completed legacy wetland and water management obligations in preparation for final SFWMD sign-off.  Assisted WCI with re-positioning this asset and launching post-bankruptcy.

Size: 1,100 acres

*Danville Leadbetter was an employee of WCI Communities from 2007-2012.


Bishop’s Pit

Project: Master planned resort style concept with boating, marina, clubhouse, sport courts, and a beach park.

Involvement: Managed the asset* as an active operating dirt mine collecting more than $1M of royalties from the material sold between the years of 2010 and 2012.  Began and spearheaded the re-entitlement process in 2011 to annex the property into the City of Parkland and to begin to change the underlying zoning.  Made all master planning decisions on this property for WCI* during this period of time.

Size: 400 acre site

*Danville Leadbetter was an employee of WCI Communities from 2007-2012.


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JS Hovnanian Portfolio
Cecil Bank Portfolio
Tuscany Reserve
Parkland Golf & Country Club
The Colony
Heron Bay
Hammock Bay
Old Palm Golf Club
Pelican Preserve
Bishop’s Pit