The former WholeLife project across County Road 466A from Pinellas Plaza has been reborn as the Beaumont Community Development District.
A proposed ordinance to establish the district was introduced Monday night at a meeting of the Wildwood City Commission and will be voted on in two weeks.
Similar to CDDs in The Villages, the district would provide a means to build infrastructure on the 153-acre property east of County Road 462, next to Trailwinds Village.
The project now is expected to include 1,298 dwelling units, 174,240 square feet of institutional space and 544,500 square feet of commercial space, according to the proposed ordinance.
The CDD would complete about $16.7 million of improvements over the next three years. Major costs include $2.2 million for roadways, $2.8 million for utilities and $4.5 million for storm water management.
Beaumont CDD board members would be Greg Meath, David Langhout, Bradley Walker, Candice Smith and Carol Duchsher, all of Deland.
Meath, Langhout and Walker also are board members of the Avalon Lakes CDD, established two years ago in Lake County. A delay of that project to build 1,659 homes on 985 acres expires in April.
Earlier this year, Wildwood commissioners approved a year extension of the Beaumont project’s planned development ordinance, which expired Jan. 11.
In a letter to Wildwood Development Services Director Melanie Peavy requesting the extension, Sarasota engineer Matthew Morris said construction could begin this summer.
The former owner, WholeLife Properties, first announced the project in December 2015. The first phase was to include 400 luxury bungalows expected to rent to adults age 55 and older on three-year leases for $3,000 to $4,000 a month. An apartment building of up to six stories was planned.
But WholeLife Properties filed for Chapter 11 bankruptcy in June 2016 after a lender’s letter threatened foreclosure on property the company owned in McKinney, Texas.