Karen Arbutine & Associates

New Ownership for Bella Collina Community

Mon, Mar 07, 2011 at 2:59PM

The luxury neighborhood of Bella Collina in Lake County is likely to be resurrected by a Palm Beach Gardens based developer, Kitson & Partners LLC.

In 2004 the 800-home lot golf resort community sold lots for more than $1 million.  The luxury neighborhood includes and 18 hole Nick Faldo designed golf course and a 50,00 sq. ft. Tuscan style clubhouse, featuring a spa, restaurant and golf pro shop.  

Between 2004 and 2007, Lake County records show that the development saw more than 700 lot and home transactions.  As of now, 41 homes have been built with 30 of thoem being occupied.

Bella Collina was hit with lawsuits from buyers after the housing bubble burst.  Buyers claimed the sales agents  promised they would be able to flip the lots for double the price and it never happened.  Today, with discounted prices, most of the lots are not appraising high enough to sell.

The new developer has a proven track record and will help kickstart this  1,900 acre Lake County development. 

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