5,700-Acre Community Planned for Central Florida August 06, 2007By Michael Fickes, Contributing Correspondent
A 5,700-acre former ranch near Arcadia in Central Florida’s DeSoto County will provide the land for a nine-square-mile master-planned community to be developed by Cameratta Properties L.P. along with The Carlyle Group, a global private equity firm headquartered in Washington, D.C.Located near Arcadia, along major east-west and north-south highways, the new community will include more than 10,000 homes, a town center, government offices, retail stores, commercial office space, schools, houses of worship, a golf course, recreation facilities, athletic fields and walking trails. Financial details of the project were not disclosed.
According to a spokesperson for Cameratta, coastal Florida residents have begun to move to the interior of the state in search of more affordable lifestyles. Cameratta’s new master-planned community will support that trend.Cameratta and The Carlyle Group also worked together in 2003 to develop Southwest Florida’s tallest building: High Point Place, a 32 story luxury high rise condominium project on the waterfront in Fort Myers.Cameratta specializes in the acquisition, development, construction and management of residential and commercial real estate projects.With $71.4 billion under management, Carlyle invests in buyouts, venture and growth capital, real estate and leveraged finance in Asia, Europe and North America.
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