Private Equity Group Multi-Use Development: On August 12, 2019 the Murdock Village CRA and the Charlotte County Board of County Commissioners completed the sale of 452 acres of property in the Murdock Village Community Redevelopment Area to Private Equity Group, LLC (PEG). The agreement puts in motion a development that is projected to create up to 2,400 residential units, 200,000 square feet of retail area, along with commercial space and a 150-room hotel. Studies conducted by the County’s consultant and PEG projected nearly $92 million in annual economic impacts from jobs created and economic activity. Over a 20-year period, construction activity is projected to be $400 million and 400 permanent jobs will be created. Also during that period, the tax revenue to all County taxing districts is projected to be $151 million over 20 years. Conceptual Plan
Below are links to the fiscal impact analyses for the project.
The agreement commits the developer to making road and infrastructure improvements to O’Donnell Boulevard, which will connect U.S. 41 to State Road 776. The agreement also requires the developer to construct multiuse paths throughout the property, which will connect to North County Regional Park, and demolish and remove degraded roadways within the parcel.
Arredondo Pointe: Lost Lagoon Development, LLLP continues to work with the County's Community Development Department to finalize the details of their Planned Development (PD) Guidelines. It is anticipated that a Developer's Agreement will be signed with the County by September 24, 2019.
More project information can be found here:
On July 11, 2017 the Board of County Commissioners adopted the third amendment to the Murdock Village Community Redevelopment Plan. The amendment provides for increased flexibility for developers with an updated vision statement and an updated mixed-use development plan.
Also in January 2017, the Board of County Commissioners and the Florida Department of Economic Opportunity entered into an agreement to outline the terms and conditions for the $40,000 planning grant the County received to evaluate and make recommendations on revisions to the Murdock Village Community Redevelopment Plan and associated goals, objectives and policies in the Charlotte County 2050 Plan. The first task was to conduct a Highest and Best Use Study with a distinct focus on developing a business and technology park in Murdock Village. This task was completed April 25, 2017. The Highest and Best Use Study analyzes the existing conditions from a demographic and real estate market perspective, providing baseline market statistics to inform potential development opportunities. The market assessment considers both local and regional market forces impacting Charlotte County. Ultimately, the findings presented in this document will be leveraged in the creation of an updated conceptual master plan for the site, blending a vision for the future with the market realities of Charlotte County. Murdock Village Highest and Best Use Study April 2017
Gateway Properties: The Gateway District is located between US41 and the local streets of Franklin, Buena Vista, and Seymour. There is a specific process that must be followed regarding the disposal of these properties since they are located in the CRA. If you are interested in any of these properties or would like to discuss this opportunity in greater detail please the Economic Development Office at 941.764.4943.
US41 Widening: The Florida Department of Transportation’s (FDOT) contractor, Guymann Construction Inc., has completed the widening, resurfacing and utility replacement project on US 41 from Enterprise Drive to the Sarasota/Charlotte County line (Salford Boulevard). This 3.6 mile project includes expanding the road from four to six lanes, making roadway drainage improvements, installing water and sewer lines, and replacing signals at Enterprise Drive, Toledo Blade Boulevard, and S. Cranberry/Cornelius Boulevards. The project includes new bike lanes and sidewalk on both sides of the road.
Development Opportunity: The Murdock Village CRA is seeking developers interested in public/private partnership to create a new destination in Charlotte County. Development opportunities include both commercial and residential offerings. The Murdock Village site is located within one mile of the spring training complex of the Tampa Bay Rays baseball team. Charlotte Harbor, offering world class fishing and sailing, is less than five miles away, and the Gulf of Mexico’s beautiful beaches are only a thirty minute drive from Murdock Village.
Charlotte County is seeking one or more developers to create a public/private partnership to redevelop this prime real estate into a mixed use designation. Please call the Charlotte County Economic Development Office at 941.743.4943 to discuss this opportunity.
Murdock Village Community Redevelopment Agency Advisory Committee, is appointed by the Board of County Commissioners to provide citizen input into the redevelopment of this area.
Aerial View of Subject Property