In June 2014, BBX Capital Real Estate entered into a joint venture agreement with an affiliate of Procacci Development Corporation. The joint venture acquired three acres of real estate located at Bayview Drive and Sunrise Boulevard in Fort Lauderdale, Florida. The new joint venture entity, Sunrise and Bayview Partners, LLC, is a 50% – 50% joint venture between BBX Capital Real Estate and an affiliate of Procacci Development.
Beacon Lake, located in northern St. Johns County, Florida is comprised of approximately 630 acres. Beacon Lake offers a backdrop of natural beauty, outdoor lifestyle amenities and is planned to comprise of 1,280 single-family homes and 196 townhomes. Construction of the Beacon Lake amenity center and model homes is anticipated to begin in 2017.
Bonterra is a new master-planned community located in Hialeah, in Miami-Dade County, Florida. Bonterra community will be built on approximately 128 acres. Once completed, the Bonterra community is planned to have approximately 1,171 highly stylized single-family homes, villas, town homes, and apartments, along with amenities including a clubhouse, fitness center, resort pool, parks, and a 15 acre lake.
Gardens on Millenia consists of 37 acres of land located near the Mall at Millenia in a commercial center of Orlando. This site is currently in the planning process and the final size and density of the project is subject to governmental approvals and other conditions. The proposed plans for 26 acres of this site include a 300,000 square foot retail shopping center with multiple big-box and in-line tenants as well as four outparcel retail pads.
In December 2013, BBX Capital Real Estate purchased a commercial property in Palm Beach Gardens, Florida, with three existing buildings consisting of 145,000 square feet of mainly furniture retail space. The property, which is located in a larger mixed use property now known as PGA Station, was substantially vacant at the date of acquisition. Subsequent to the acquisition of the property, BBX Capital Real Estate entered into a joint venture with Stiles Development which acquired a 60% interest in the joint venture. BBX Capital Real Estate also owns an office building and land located in the newly named PGA Station. The joint venture described above is adjacent to PGA Station.
RoboVault is a state-of-the-art self-storage facility located at 3340 SE 6th Avenue in Fort Lauderdale, minutes from the airport and downtown. RoboVault offers exceptional storage at everyday rates; its one-of-a-kind automated retrieval system and air-conditioned, private loading bays represents the ultimate in convenient storage; no hallways, carts, tight doorways, and bumps in the floor to avoid any hassle and to make storage easy.
The Village at Victoria Park, located near downtown Fort Lauderdale, Florida, in the highly desirable Victoria Park neighborhood, will be built on a 2.3 acre parcel previously a part of the original BankAtlantic headquarters site. The community will consist of 30 highly amenitized two story cluster homes with private courtyards.