Chapel Creek / Stonebridge – SOLD

Pasco County - 350 Acres

Phase 1 (Platted Lots and Undeveloped Land)

Overview

Located in the unincorporated portion of east Pasco County within the Wesley Chapel submarket. The property is located one mile north of SR 54 and one mile west of US 301.

This partially developed mixed-use residential community was originally approved for 906 units. Phase 1A of the master infrastructure is complete including spine road and water and sewer along with 222 developed and partially developed lots. Below is a summary of the finished and partially developed lot inventory.

DEVELOPED LOT MIX	# OF LOTS
52.5' x 110'	71
62.5' x 110'	40
65' x 110'	53

PARTIALLY DEVELOPED	# OF LOTS
62.5' x 110'	46

Major approvals are in place, including project zoning, stormwater permits and environmental permits. Final settlement of mineral rights are expected by year-end 2015. The phase I entry feature and landscaping have been completed. The property is part of the Chapel Creek CDD; bond assessments remain in place and may require restructuring to reflect market conditions.