LUTZ, Fla., Oct. 13, 2020 /PRNewswire/ -- The Ferber Company (Ferber), a privately held real estate development and investment company headquartered in Ponte Vedra Beach, Fl. announces Cypress Ranch, the largest land development project in company history, including single and multi-family residential, retail, and office. This 164-acre mixed-use development in Pasco County on the south side of S.R. 54 intersects with Ballantrae Blvd, just east of the Suncoast Parkway. Pasco is one of the top 40 fastest growing counties in the United States. Cypress Ranch is situated approximately eight (8) miles and equidistant from two major commercial nodes - Tampa Premium Outlets to the east and Mitchell Ranch to the west.
"We realized the growth of this corridor was far outpacing any area in the Tampa Bay market" shares Ryan Plate, Vice President at Ferber and lead developer on this project. With neighboring Hillsborough County nearly built out from a residential perspective, Pasco has become a prime target for further residential development, and as a result generates the need for more commercial uses to complement that growth. Another contributing element to growth is recent job creation. Over 750 jobs have been created in the trade area in the last two years alone, with more to come, including announcements for extensive office space and a distribution facility within 1.5 miles of the project. Plate's strategy has been to put together the right team and residential partners to create a mixed-use project that complements the surrounding communities and satisfies the increasing demand.
In 2012, Cypress Ranch, formerly known as Smith 54, was entitled for almost 1,600 multi-family residential units and commercial, but county planners encouraged a variety of residential options, leading Plate to concentrate on gaining the right balance of residential and retail. "Ferber has been committed to the highest level of professionalism in this collaboration," states, Kurt Kehoe, Florida's VP of Development for The NRP Group, the award-winning developer of the multi-family component. Kehoe says The NRP Group is looking forward to the project's completion and what it will bring to this vibrant community. Ferber has worked closely with NRP Group, as well as Lennar Homes who will close on the final parcels later this year, planning approximately 330 multi-family units, 134 townhomes, and 132 single family homes behind the commercial uses.
The commercial elements of Cypress Ranch include EoS Fitness, Aldi, Burger King, Circle K, Honest-1, and Woodie's Wash Shack, among other national tenants. One outparcel remains along S.R. 54 as well as one larger 6.4-acre tract, which can be subdivided and is suitable for retail, office, medical office, and hotel, among other uses.
Cypress Ranch began construction October 1st and anticipates the first retail openings to occur late 2021 and 2022. For more information regarding leasing and sales, contact Ben Kirk at [email protected], or Ryan Plate at [email protected] for project questions.
For more information, visit The Ferber Company.
SOURCE The Ferber Company