Yahoo Finance C.K. McWhorter, Chairman and CEO of CTRL USA, set to invest $400 million + in the acquisition & development of mixed use properties within Wellington, Florida.
not an official rendering
The development iis seen as a long-term venture by CTRL USA with a 2025 release.
PALM BEACH, Fla., Nov. 23, 2020 (GLOBE NEWSWIRE) -- A new mixed-use development; retail, fine dining and luxury condominium location is coming to the Wellington/Palm Beach area.
Phase I of the project, which will include a $250 million allocation of capital dedicated to new acquisition/construction, will include much of the luxury retail/condominium development and a variety of fine dining.
“We are delighted to announce our commitment of capital to such a beautiful area. With equestrian sporting events in the U.S. destined for growth within the heart of the world’s current and coming generations, Wellington is adept to continue meeting the beauty and luxury demand of the equestrian sporting arena. CTRL USA has a long and successful presence within extraordinary investment opportunities. I look forward to expanding our role in the City of Wellington with these exceptional new destinations,” said McWhorter, chairman and chief executive officer of CTRL USA. “CTRL USA pledges to design a magnificent location that will offer unrivaled hospitality, as well as fine dining and luxury retail locations, and enhance Wellington’s reputation as an unparalleled luxury destination.”
It will be looking to contest with other high-end locations within the Palm Beach area by providing more convenience to the Wellington, Florida community. Luxury retail location possibilities include; Hermes, Louis Vuitton, Gucci, Christian Louboutin, Tiffany & Co., Alexander McQueen & More.
The condominium is set to have oversized suites, a private club, as well as two swimming pools — one of which will be for the penthouse. Price Range 2M-10M.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/40c0b2aa-321a-4fd1-9266-d498ca6e1f38
CONTACT: Contact: Mackenzie Bledsole Relations@ctrlusa.com Mackenzie.Bledsole@ctrlusa.com
