Crystal Lagoons and ADËLON Will Develop New PAL™ Projects in Florida02/04/2022
One of the most iconic tourist areas is Orlando which, in 2021, was tapped into by Crystal Lagoons, in partnership with ADËLON Capital, a renowned developer and asset management and administration firm.
The city showcases every type of entertainment offering and infrastructure imaginable, except it lacks beach life. The two companies signed a master agreement for the development of at least five Public Access Lagoons™ projects, also known as PAL™ 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 a second exclusivity 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. With their technology, we will bring beach life to cities in Brevard County and its surrounding communities,” says Jonathan Cohen, founder and co-president of ADËLON Capital.
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 US$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. 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,” says Iván Manzur, Senior VP of Sales, Crystal Lagoons US Corp.
The United States is the main market for Crystal Lagoons worldwide. Currently, there are 222 projects in different stages of development and negotiations and Florida is one of the U.S. states where the company first began its meteoric rise. Among the 51 projects in Florida are Epperson, Evermore, Sole Mia, Southshore Bay, Mirada, Aqua, Emerald Lakes, Ridgewood, Lake Susy, Tamiamiami and Haines City, among others.
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