Crystal Lagoons’ mega lagoon may spur wave of new C. Fla. amenities11 February, 2015 / News
Want to add value to your real estate development without spending big bucks on a water park or lazy river? Think about adding a lagoon. That’s what Lake Nona developer Tavistock Development Co. LLC did when it partnered with Miami-based Crystal Lagoons US Corp., a firm that designs and provides technology for large man-made recreational crystal clear lagoons to resorts, residential developments and even public parks. Tavistock announced plans for a new luxury resort coming to Lake Nona, near the planned U.S. Tennis Association complex on Lake Nona Boulevard, that will feature a $2.2 million-$3.3 million, 11-acre Crystal Lagoons project as the resort’s centerpiece. It’s also an opportunity for Lake Nona to capitalize on the additional real estate value and profit it will gain from having the lagoon on property by attracting more guests, who might spend more time and money at the resort. And it could encourage more developers to take on these types of projects. That’s because amenities like lagoons or water features help add value to new resort developments, and this type of project also might bring even more value to surrounding real estate, said Jeff Forrest, president of general contracting firm Winter Park Construction, who has built many amenities for projects in the area.
“An 11-acre lagoon you can paddleboard on is probably a benefit more to land values than anything else,” Forrest said. “You’re really increasing the value of the land around that substantially more. You could take a Class B or C property and turn into an A because you’re adding this product.” No further details were released on the Lake Nona resort, but the lagoon will be anywhere from 8- to 12-feet deep and won’t have any marine life introduced to it — which will help avoid attracting alligators, said Kevin Morgan, CEO of Crystal Lagoons. Though plans still are being finalized, the lagoon, the largest project to date in the U.S. for Crystal Lagoons, will feature white sandy beaches, palm trees, landscaping around planters and will be in a park-like setting. “Based on the reputation Tavistock and Lake Nona have in the market, it’s an excellent relationship for us,” Morgan said. “To be in an iconic development like Lake Nona is a great fit for Crystal Lagoons. With the relocation of USTA to Lake Nona, it offers a unique development opportunity with the 100 courts. It’s going to be like nothing available in the U.S. from a sports and leisure perspective.” Crystal Lagoons will handle engineering and design, while Tavistock and its as of- yet-unnamed development partner for the resort will name a construction team. A timeline hasn’t been announced for the project, but Morgan said his goal is to get it going “as soon as possible.”
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