Convergence Investments


Current: 70 Acre Master Planned Resort Community

Project Details:

Property Location:
Sussex County, DE
Property Type:
Residential Resort
Acquisition Date:
2005
Project Cost:
N/A
IRR:
N/A
Return Multiple:
N/A
Size:
300 Mixed-Use
Status:
Current Project

Project Summary:

The 71.6 acre community tucked into the quiet southeast corner of Ocean View, Delaware designed to attract a variety of residents including vacationers, second home buyers, and retirees. The common preference at the community is to be located near the beach. Residents also desire a sense of community and a place that is away from the intense business activity located along the public beach areas. The community is ideally located just west of Bethany Beach and an approximate  8-10 minute bike ride from the Atlantic Ocean. Although the excitement of the beach is nearby, the community is a quiet neighborhood characterized by the charm of small shore towns such as Georgetown, Milton and Lewes, on the Delmarva Peninsula, as well as Berlin and Snow Hill in Maryland. This design combined with its proposed wellness-based amenities creates a unique master planned community offering residents proximity to the beach and a comforting highly-amenitized neighborhood to call home.

Community Design:

The tranquility of these shore towns, as well as the community’s location to the “Quiet Resort” area of Bethany Beach, South Bethany, Fenwick Island, and Ocean View, are the inspirations behind the community design. The older neighborhoods in these towns feature many elements of traditional neighborhood design, the planning principle behind this community. Single-family detached and attached houses organized along neighborhood streets and greens characterize this concept. Other features include narrow front yards, porches, gardens and detached garages in the back yard. Tree-lined streets, sidewalks and an internal trail system are also featured elements which establish a pedestrian friendly environment and help create the quiet charm associated with traditional coastal towns. These same design elements are used throughout the community, thereby ensuring that the neighborhood fits perfectly into the fabric of the “Quiet Resort” region.

Community Website: www.LiveWellOceanView.com

Significant Milestones to Date:

  • Annexation into the Town of Ocean View, Delaware
  • Secured Preliminary Approvals and secured 300 unit by right density
  • Annexation into the Sussex County Sewer District
  • Secured lot purchase agreement with K. Hovnanian® Homes®
  • Horizontal construction well underway with majority of Phase 1 complete
  • K. Hovnanian® Homes® model court to be complete late Fall 2015

 

Progress Photos

 

 

Proposed Amenity Overview

  • Clubhouse with full time staff to coordinate community programming
  • Welcoming entrance with lounge area featuring billiards, card table, library and fireplace
  • Luxurious spa and locker rooms with wellness amenities such as sauna, steam and massage rooms
  • 1,800 sq/ft state-of-the-art indoor fitness center, outdoor sport court and outdoor pool with lounge area
  • Indoor Pool
  • Multipurpose rooms for class led instruction, such as yoga, spin and cardio classes, and banquets
  • Community walkways with green open space and gardens

 

*All drawings and plans are conceptual by nature and subject to change and need not be built