WESLEY CHAPEL, FL -- Avalon Park Group completed an exchange of CDD Bonds on the company’s New River development on S.R. 54 in Wesley Chapel. The unique deal took over two years to consummate and will revitalize the project in a quickly growing portion of Pasco County.
Eric Marks (top right photo), senior vice president at Avalon Park Group, said the deal reflects both Avalon Park Group’s and the bondholders’ commitment to this project and excitement about the great opportunities that exist in Pasco County.
The developer is already in talks with local and national homebuilders and lot sales are expected to begin in the first quarter of 2011.
Development of 365 lots and an amenity center is completed and plans to construct a town center containing over 700,000 square feet of retail, civic and commercial space are underway.
At completion the project will include over 4,800 residential units featuring a mix of single and multi-family housing, along with the town center. The plan consists of over 1,800 acres with 600 acres of natural preservation, walking and biking paths and man made lakes, Marks said.
For more information about this press release, contact
Eric Marks, Senior Vice President, Avalon Park Group, ericm@avalonparkgroup.com, 407-658-6565;
Rich Browning, Vice President, Avalon Park Group, richb@avalonparkgroup.com
407-658-6565;
Stephanie Hodson, Marketing Director, Stephanie@avalonparkgroup.com
407-658-6565, ext 116;
Larry Vershel Communications Inc. (Larry or Beth) Lvershelco@aol.com
407-644-4142.
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