The president and CEO of Aragon Development wishes to highlight his involvement in a partnership to further develop the South Florida community.
WELLINGTON, FL / ACCESSWIRE / July 13, 2021 / It is with great enthusiasm and anticipation that entrepreneur and real estate mogul Moti Maximoff announces his attachment to a plan to build additional retail and hospitality space, as well as multifamily residential units on underdeveloped land currently designated as an industrial site in the master-planned community of Harmony, Florida.
Earlier this month, Coastline-Nakash Equity Capital Group (CNE) purchased a 45-acre site next to Harmony High School for $9.5 million USD. As Senior Analyst Joey Lazerowitz told Central Florida business and real estate aggregator GrowthSpotter, the partners believe developing the site is a good strategy because it is already surrounded by existing homes and new construction. 'We saw this as an opportunity to buy land right in the middle of all these high-end homes where there's lots of growth and not enough retail to serve all these residents,' Lazerowitz said. The total land involved in the transactions amounts to about 100 acres, including the industrial site.
CNE approached Moti Maximoff, as well as Transamerican Development Corp as partners in the enterprise. Working together, the partnership plans to build upwards of 950 new residential units and bring a new Publix grocery store and other retailers to Harmony. Multiple closings are scheduled to take place over the course of the next few months, and the partnership will be submitting new development plans throughout the remainder of 2021.
An application for a minor planned development (PD) amendment has already been filed by Civil Engineer Steven Boyd to increase the maximum height of new multifamily units from 50 to 55 feet in order to facilitate the partnership's building design plans. As per the designs, ground-floor apartments will have private gardens, while upper floors will have balconies. The estimated budget for the new residential block is $65 million USD.
The partnership also intends to close on the purchase of the Harmony clubhouse, but will not take over ownership or management of the town's celebrated golf course. Plans are in the works to convert an existing office building across from the clubhouse into a boutique hotel or bed & breakfast to complement the golf club and event garden's business as a wedding venue.
Additionally, the partnership is also under contract to buy roughly 15 acres east of the town center for further residential development.
Beyond that, the partnership also has plans for significant retail expansion in the master-planned community. Although the town presently contains a small market and a handful of restaurants, the nearest fully-fledged grocery store is located 8 miles away. Moti Maximoff, CNE, and Transamerican Development Corp wish to bring a standard-sized Publix store to Harmony, as well as several commercial outparcels fit to house restaurants, medical offices, banks, or charter schools.
Moti Maximoff is excited to invest in and develop this community and encourages anyone interested in living there to learn more about it by visiting Harmony, Florida's informative official website.
Contact Information:
Ironstone Capital/Aragon Development
Email: [email protected]
Phone: 585-469-5370
Website: www.aragondevelopment.com
SOURCE: Aragon Development