Investment Firm ADËLON Capital and Crystal Lagoon Ink Deal for Complex at Emerald Lakes
By Space Coast Daily // February 10, 2022
SPACE COAST DAILY BUSINESS SPOTLIGHT
WATCH: Public Access Lagoon developments create turquoise waters and white sand beaches, allowing developers to create idyllic beach life just steps away from people’s homes. This innovative concept has been patented as a system and business method by Crystal Lagoons.
BREVARD COUNTY, FLORIDA – Investment firm ADËLON Capital and Crystal Lagoons has announced they will develop a Public Access Lagoon (PAL™) complex in Brevard County.
Public Access Lagoon developments create turquoise waters and white sand beaches, allowing developers to create idyllic beach life just steps away from people’s homes.
This innovative concept has been patented as a system and business method by Crystal Lagoons and is slated for the future Emerald Lakes community in Palm Bay and possibly in Melbourne and Port Canaveral.
The Emerald Lakes Community Development District encompasses an area of approximately 1,561 acres in the City of Palm Bay, Florida. The land within the District is generally located east of Babcock Street (State Road 507), south of Grant Road, west of US Highway 1, and north of Micco Road.
The District is located in all four quadrants of a new I-95 interchange.
ADËLON Capital is a developer and asset management and administration firm, and business partner of Crystal Lagoons and said among the other 51 projects in Florida are Epperson, Evermore, Sole Mia, Southshore Bay, Mirada, Aqua, Emerald Lakes, Ridgewood, Lake Susy, Tamiami and Haines City.
The two companies signed a master agreement for the development of at least five Public Access Lagoons projects, the first of which is to be built next year.
Strong interest in the state of Florida led ADËLON Capital and Crystal Lagoons to recently sign the agreement to develop new PAL complexes in Brevard County, as well as other areas on Florida’s east coast.
“We are very excited about our strategic alliance with Crystal Lagoons, one of the most innovative companies in amenities,” said Jonathan Cohen, founder and co-president of ADËLON Capital.
“With their technology, we will bring beach life to cities in Brevard County and its surrounding communities.”
Since entering the U.S., Florida has been one of the most dynamic markets for the multinational’s crystalline lagoon projects. The first development was Epperson, which from the outset was a commercial success.
Every year it leads the rankings of the best-selling real estate developments in Tampa and the U.S. In fact, when part of the complex’s artificial lagoon opened to the general public, it triggered a wave of ticket sales worth $50,000 daily with up to 1,200 visitors every day. Tickets began selling out weeks in advance.
“Artificial lagoons are the crossways and driving force behind Crystal Lagoons projects in the U.S.,” said says Iván Manzur, Senior VP of Sales, Crystal Lagoons US Corp.
“This is apparent in the different rankings such as that of RCLCO and John Burns Real Estate Consulting. In fact, all of the projects with Crystal Lagoons amenities that are at the sales stages in Florida are among the top 50 best-selling real estate projects annually.”