First GREEN Bank, a local bank with a global mission, today announces its nearly $4 million loan to affiliates of Charles Wayne Properties, a Central Florida based commercial real estate firm, for the refinance and future development of the Debary Town Center. Development of the site is expected to begin in 2018 and be completed by the end of 2019. This approximately 68-acre area of land is located in the Debary Transportation Overlay District (TOD) and is currently the largest undeveloped parcel of land within walking distance of any SunRail Station across the commuter system. Development plans include the addition of more than 258,000 square feet of commercial space and approximately 16 acres is set aside for a multifamily apartment development. There will also be new, easy-access connection points between th e SunRail System and neighboring nature trails. These additions will help serve and grow Debary's population of roughly 20,000 residents by offering new housing, shopping and eco-friendly transportation options.
"We are excited to support this project, which will provide the community with a multi-functional area, built to serve both the urban and ecotourist industries," said Ken LaRoe, founder and chairman of First GREEN Bank. "The area will facilitate more SunRail use, which equates to less carbon emissions, and the area will simultaneously encourage both business development and outdoor recreation. This aligns with our bank's mission, which supports financially, environmentally and socially responsible initiatives."
Project plans envision about 2,200 residential units of all types, mixed with senior-living facilities and stores, from coffee shops to small groceries. The district also plans new man-made lakes and trails for outdoor enthusiasts. Additional improvements include storm water ponds with decorative fountains, greenspace, a clubhouse with a pool area, garages, and maintenance facilities. During one of the first phases of the project, developer Integra Land Company plans the construction of a 289-unit apartment, featuring views of the Gemini Springs Conservation area with an integrated trail system and connections to SunRail.
"We're grateful First GREEN Bank is helping us to refinance the Debary Town Center land, so we can focus our capital on transforming the area into an impressive mixed-use development," said Steve Costa, managing member of Charles Wayne and Debary Town Center LLC. "Once finished, the new Debary Town Center will give consumers access to top businesses, restaurants, apartments, outdoor recreation and urban transportation. We're excited to be working with some of the best local developers and architects to make this vision a reality."
First GREEN Bank's loans department includes 11 dedicated team members and offers a range of customized services and financing options. As part of the bank's mission to promote sustainability, reduced financing is available on commercial real estate loans that use solar panels or that meet environmentally-friendly LEED certification.
For additional information on First GREEN Bank and its loan services, visit www.FirstGREENBank.com.
About First GREEN Bank
Since its opening in 2009, First GREEN Bank has led an impactful and successful charge to prove there is a better way to do business -- one that is financially, environmentally and socially responsible. Committed to incorporating a strong sense of social responsibility into its business, founder Ken LaRoe and CEO Keith Costello are one of the only two leaders and friends in the banking industry to promote environmentally responsible behavior through its own business and employees. Together, LaRoe and Costello plan to promote their global mission. Headquartered in Orlando, with additional locations in Mount Dora, Clermont, Ormond Beach, Winter Park, Fort Lauderdale, and, most recently, Altamonte Springs, First GREEN Bank offers personal and commercial banking services.
To find out more about First GREEN Bank, visit www.firstgreenbank.com.
About Charles Wayne
Charles Wayne is a diversified commercial real estate firm specializing in the ownership, operation, development, management, and brokerage of assets throughout the Southeastern United States with a focus on Central Florida.
For additional information regarding Charles Wayne, visit www.charleswayne.com.