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U.K. buyers pay $2 million to take over stalled Callista Cay project

Tarpon's Callista Cay condo project comes back to life

TARPON SPRINGS — Developers from the United Kingdom have paid $2 million to take over the long-stalled Callista Cay project, a 5-acre townhome community planned for a canal off Whitcomb Bayou, representatives said Monday.

Global Real Estate Trading and SPV1 LP bought the project from WD Development LLC, which has built only a tenth of its 62 planned units, according to Commercial Asset Partners Realty, which represented the buyer.

The buyers plan to finish the Meres Boulevard project, which features 58 waterfront docks, within nine months, agents said. Townhomes will be marketed internationally for about $150,000 to $200,000 per unit. The project's original developers were fined $92,000 in 2007 by Tarpon Springs for chopping down dozens of trees without a permit.

Times staff

U.K. buyers pay $2 million to take over stalled Callista Cay project 01/14/13 [Last modified: Monday, January 14, 2013 8:00pm]
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