Egret Landing is an assemblage project that was headed by principals of the Midgard Group, who also assembled the complete development team. By working with adjacent landowners in Palm Beach County, a limited partnership was created for a new residential development. All owners were promised 3 new platted improved lots for each previously owned 1.5 acres.
The land was annexed into the Town of Jupiter and outfit with newly paved roads, storm water drainage, central water, sewer cable and natural gas. The partnership accomplished all improvements by obtaining State legislation to expand the powers of the drainage district to include paving roads, installing water and sewer and other utilities. Bonds were floated by the district to pay for these improvements and paid back with annual real estate taxes over 20 years.
The partnership created a marketing program, brought in several national and regional builders and pre-sold the lots necessary to construct the amenity package which included clubhouse, swimming pool, tennis courts, and a prestigious entry with signage and landscaping.
Not only did each original 1.5 acre lot yield the new lots, but each new lot was ultimately sold for more than the original lot’s value, yielding substantial returns for the partners. The land was brought up to current standards, improving environment, health and safety and quality of life. Egret Landing is an outstanding example of a cooperative revisioning with a winning result for all.