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John Kurtz407.864.9488 • [email protected]
Marisol Soderstrom407.284.5004 • [email protected]
HUNTER’S RIDGEDEVELOPMENT OF REGIONAL IMPACT
Ormond Beach, FLEXCLUSIVE DEVELOPMENT OPPORTUNITY
HUNTER’S RIDGE PROPERTY SUMMARY
Development of Regional Impact – Volusia and Flagler Counties, Florida
• Original Development Order – 1988• Third Amended Order (current) - 2010
Location:• Ormond Beach, Florida• 3 Miles West of I-95 on Granada Blvd. (State
Highway 40)• 12 Minutes to the Beach – Atlantic Ocean• 15 Minutes to Daytona Beach & Regional Airport• 10 minutes to major interchange of Interstate
Highways I-95 & I-4• 45 Minutes to Orlando• 70 Minutes to Jacksonville• 45 Minutes to Cape Canaveral
Property and Approvals:• Phase I includes approximately 1000 constructed
homes, lots, an elementary school, community ammenities and emergency service vacant building.
• Property for Sale in Flagler County includes 1450 Acres
• In Flagler County, 1,978 acres have been deeded to the county as Regional Recreation Park.
• Remaining single and multi-family residential density includes 1,881+/- units.
• 600,000 +/- Square feet of Commercial space including Retail, Office and Industrial
• Note: There may be potential to recover approximately 20-50 acres presently
designated as public service lands as well as increase residential density.
Nearby Area• Atlantic Ocean Beaches and Intracoastal
waterway recreational areas• Minutes from newly constructed 396 bed,
Florida Memorial - Ormond MemorialComplex• Minutes from major retail• Excellent schools, local colleges and Embry-
Riddle Aeronautical University• Nearby NASCAR – Daytona International
Speedway• Major retail, commercial, lodging site –
International Speedway - Daytona Beach, Florida
Notice of Confidentiality & Disclosure
This presentation is the confidential work product of Premier Sotheby’s International Realty, 115 International Parkway, Heathrow, Florida, 32746. Any other use or distribution to non-authorized parties, including outside real estate consultants or brokers, without the written consent of Premier Sotheby’s International Realty is prohibited The information and statements describing the property included in these exhibits is for general purposes only and are believed to have been obtained from reliable sources. It is not intended to be all inclusive or to represent the state of the property or the affairs of the property owner or the status of prior, existing or future entitlements. No representation or warranties are made by Premier Sotheby’s International Realty as to the accuracy, completeness or implied future performance of the information provided. References to current and prospective market and economic trends and conditions are based on assumptions. All prospective Buyers are expected to conduct independent due diligence to verify information and data utilized in evaluating the prospective acquisition of the subject property. Buyers are encouraged to seek the counsel of engineering, financial, tax and legal advisors to assess the suitability of a prospective purchase. For prospect registration and property information materials, contact listing representatives.
115 International Parkway | Heathrow, FL 32746407.333.1900 | www.PremierSothebys.com
John [email protected]
407.864.9488
Marisol Soderstrom407.284.5004 • MSoderstrom@RSSe-
lectFL.com
Hunter’s Ridge
• Remaining property includes approximately 1450 Acres with entitlements for 1881 residential units, 600,000 Sq. Ft. of commercial space, community amenities and public facilities.
• Hunters Ridge is on Hwy 40, the primary access to Ormond Beach – 3 Miles West of I-95
• Hunter’s Ridge currently has approximately 1000 finished homes with over 2000 more to come.
• Several homebuilders are actively building and several more have submitted Letters of Intent to purchase additional home sites.
• Directly West of Breakaway Trails a containing approximately 1000 finished homes.
• Directly North (across Hwy 40) of future phases of Latitudes Margaretville a 6,900+ home Jimmy Buffett themed active adult community.
• CDD approved to complete spine roads and spur residential development.
• Airport Road is complete. Hunter’s Ridge Blvd currently ends north of roundabout on South East corner of Town Center.
• Developed section of Hunters Ridge is well established with a healthy and active Home Owners Association.
• Hunter’s Ridge includes a variety of residence types from attached villas to estate homes, with prices from the low $200’s to nearly one million dollars.
• Hunter’s Ridge Regional Park has been deeded to Flagler County. This 2300+ Acre park will include traditional park amenities in addition to trail heads and miles of hiking and equestrian trails.
• Hunter’s Ridge concept includes multiple walking trails between amenities, communities, town center and into the Hunter’s Ridge regional park, promoting a healthy and active family lifestyle.
• The scenic drive through developed sections of Hunter’s Ridge shows a mature landscaping, towering oak trees, ponds, fountains and pergolas.
• Short distance to major restaurants, entertainment and retailors including Walgreens, Publix, Wal-Mart, Race Track, Regal Cinema, Cracker Barrel, Chick-Fil-A, Denny’s, McDonald’s, Chill’s, Steak and Shake, Starbucks and much more.
BULK SALE PRICE: $30,000,000
CONSERVATION AND REGIONAL PARK
HUNTER’S RIDGEORMOND BEACH, FLORIDA JUNE 2016 • CONTACT: SCOTT MINGONET PLA, AICP (407) 427-1622
N
PRIMROSE - CONCEPTUAL PLAN0 50 100 200
Pond6.56 ac
Pond2.56 ac Publix
Publix: 65,300 s.f. Retail A: 18,200 s.f.
Retail B: 16,720 s.f.
Apartments: 420 units
Retail a
Retail b
• Sale includes Primrose 27 acres on North West corner of Airport Road and Hunters Ridge Blvd and Laurel 7.7 Acres on the South West Corner of Hunter’s Ridge Blvd and Airport Rd.
• Offering includes the only two direct corners on this Hunter’s Ridge’s Main and Main Intersection
• Properties Zoned for Retail/Commercial within Hunt-er’s Ridge DRI and designed to handle 200,000+ Sq. Ft. of commercial space.
• Only property currently slated for retail use on the 6+ mile stretch of Airport Rd from Hwy 40 to US 1 which is sprawling with established communities and new resi-dential subdivisions.
• Concept uses include, grocery, drug store, bank, strip center, restaurants, fast food, shopping center, assisted living, medical and professional office
Grocery
L
O
HUNTER’S RIDGE TOWN CENTER
Town Center Retail Site: $5,000,000Note: Included with Bulk Sale
Bank
SIGNIFICANT AREA PROJECTS
• Hunter’s Ridge has 1000+ homes and is slated for 2200+ more and 600K Sq. Ft of Commercial
• Halifax Plantation currently has 1100+ homes and is Slated for 600+ more
• Plantation Bay currently has 1600+ homes and is slated for 1500+ more
• Plantation Oaks slated for 1577 home 55+ Community Now under construction
• Ormond Crossings slated for 3000 Homes and 4.5M Sq. Ft. of Commercial – Future Development
• Florida Hospital Memorial Center 293 bed hospital built in 2009 44 bed expansion to be completed summer 2017
• Latitude Margaretville – 6900 home 55+ Jimmy Buffet themed community
• Bayberry Lakes PH 2 Future Development Up to 1200 homes
• Tanger Outlets 350,000 Sq. Ft. with over 75 designer retailers completed 2016. Future development of “Big Box Power Center”
• Daytona Rising - $400MM reimagining of iconic Daytona International Speedway completed in 2016
• Trader Joes 631,000 Sq. Ft. Distribution center opened June 2015
• ONE DAYTONA is Daytona Beach’s epicenter for shopping, dining and entertainment. Come discover what makes ONE DAYTONA the place to be 350,000 Sq. Ft. Mixed Use Development.
TIGER BAY STATE FOREST
CONSERVATION AND REGIONAL PARK
HUNTERS RIDGE ESSENTIAL INFORMATION
CDD – Community Development District:On March 28th 2017 the Hunter’s Ridge Oaks Community Development District No. 1 was adopted by the Flagler County Commission, allowing the Developer of Hunter’s Ridge to sell up to $53,000,000 in bonds to fund the development of infrastructure in Hunter’s Ridge. All rights and obligations under this CDD will be passed to the buyer of the project. At this time no bonds have been sold and no fees have been levied against the property. It will be up to the buyer to decide how much, if any, CDD money to use.
Property Approvals:The remaining entitlements controlled by the seller include 1881 residential units and approximately 600,000 Sq. Ft. of commercial space. In 2017 the project’s entitlements where reinstated after the developer finalized some outstanding obligations that had the remainder of the project on hold. Section A on the Map slated for 99 lots has engineering complete and can be shovel ready in just a couple months. Other pods have conceptual site plans prepared but will need to have site plans finalized prior to development.
Mitigation Credits:Under the current plan Hunter’s Ridge will yield approximately 108 wetland mitigation credits through the conservation land on the west of the property and scattered throughout it. These credits can be used to offset any impacted wetlands within Hunter’s Ridge during development. Additional wetland mitigation credits can be attained by doing additional wetland enhancement work on the site if required. Current market price on wetland
mitigation credits is approximately $120,000 each. Credits yielded by Hunters Ridge are limited to be used within the development and may not be sold to provide credits for other developments.
Fill Dirt: Permits are pending to allow the developers of Hunter’s Ridge to dig a “Fire Lake” in the Hunter’s Ridge Regional Park. This lake will give fire fighters ready access to large amounts of water should there be a forest fire in the area as well as serves as a great amenity for the Park and community. An additional benefit of this is it will provide approximately 800,000 cubic yards of fill dirt to be used for development. Additional fill dirt may be obtained by placing borrow pits in strategic locations throughout the property if needed.
Builder Offers:Hunter’s Ridge currently has numerous local and national builders who have submitted offers to purchase developed lots in Hunter’s Ridge. This
allows a developer to begin realizing a return immediately upon developing the site. Specifics may be obtained during a due diligence period with appropriate Non-Circumvent Non-Disclosure (NCND) forms signed.
Development Costs: The seller has obtained bids showing approximate construction costs of $26,000 per 50’ lot to develop in sections of Hunter’s Ridge. This number should be lowered substantially by the use of onsite fill dirt. The bulk of development costs can be covered by CDD monies should the developer choose to use them.
Amenities:Hunter’s Ridge currently has a Club House, Pool, Tennis Courts, and Playground in addition to various parks, open spaces, walkways and docks that are available to all residence. There 4
additional amenity sites slated for development on site, one of which includes another clubhouse and pool. Some developers of pods within Hunter’s Ridge choose to provide additional amenities for their residences within their respective sites.
Home Owner’s Association:Hunter’s Ridge has a Master Home Owner’s Association which maintains the common areas and amenities. Current HOA fees are approximately $170 per quarter. Communities within Hunter’s Ridge have the option of creating sub associations to fund additional amenities within their communities. The Master Developer still controls the HOA.
Schools:Hunter’s Ridge has given a 50 acre site to Flagler County to build a School. This school was originally contemplated as an Elementary and Middle, but the site is large enough to accommodate a small K-12. Flagler County has not yet determined precisely what type of school to build, however are considering a school that specializes in equestrian and veterinary services to utilize the miles of trails that sits beside it. Flagler will be required to build the school when there are 360 students in the Flagler portion of Hunter’s Ridge, but have indicated they intend to move quickly once they see a projected need. Volusia County will not guarantee Flagler County Students positions in any particular school, however beginning in the 2017-2018 School year they will participate in the statewide open enrollment program that will require them to accept any student that applies so long as there is capacity.
The Pathways Elementary school where children from the Volusia County portion of Hunter’s Ridge go is close to capacity, and likely won’t take students from Flagler, however several other elementary schools, particularly A Rated Pine Trail Elementary,
which is just another mile down airport road has plenty of capacity to accommodate the development at least until Flagler builds a new school. The Schools that the Flagler portions of Hunter’s Ridge are currently zoned for are Bunnell Elementary, Buddy Taylor Middle and Palm Coast High. Should any resident decide to go to any of those schools Flagler County will send a bus for them. Thus far the majority of students in Hunters Ridge attend Volusia County Schools by participating in the open enrollment program.
Current Active Builders:Hunter’s Ridge currently has multiple active builders who are stake holders in Hunter’s Ridge. These include: Gallery Homes of Deland, KB Homes, Vanacore Homes, Landon Homes, Vintage Homes, Grenanda Homes and Fretwell Homes. Many more builders have expressed an interest in setting up shop at Hunter’s Ridge.
Sotheby’s International Realty® and the Sotheby’s International Realty logo are registered service marks used with permission. Each office is independently owned and operated. Equal Housing Opportunity. Home and community information, including pricing, included features, terms, availability and amenities, are subject to change, prior sale or withdrawal at any time without notice or obligation. Drawings, photographs, renderings, video, scale models, square footages, floor plans, elevations, features, colors and sizes are approximate for presentation purposes only and may vary from the homes as built. Home prices refer to the base price of the house and do not include options or premiums, unless otherwise indicated for a specific home. Nothing on our website should be construed as legal, accounting or tax advice.
John Kurtz407.864.9488 • [email protected]
Marisol Soderstrom407.284.5004 • [email protected]
LPGA Blvd
US 92
US 1
Williamson BlvdGranada Blvd
Tymber Creek Rd
Airport Rd
SR 40
I 95
I 95
LPGA Blvd
