Cedar Creek Lake Opportunity Zone Fund | Symfonia Ventures LLC

The phased development affords the benefit of generating a significant value increase on the equity invested over the entire 10 year term of the federal Opportunity Zone program. The projects require $30M to $40M of development equity from an investor focused on the tax benefits afforded through investing in a federally approved Opportunity Zone.

Phase 1 ~ Carson’s Lakeside Villages ~ Florida-style lakeside beach community with 1,000 feet of beach
• Homes, condominiums, cottages, and a marina will be developed and constructed
• Homes, cottages, marina slips, and three of the five condominium buildings sold to users
• The remaining condominium units (two buildings) will be rented until the 10th year
• After year 10, the remaining three condominium units will be sold in preparation for the Opportunity Zone tax-free distribution to the equity investor and GP partner.

Phase 2 ~ Island Towers ~ Florida-style high-rise towers with 360 degree lake views
• The Island Towers will consist of three towers housing 400 total units, each constructed above four floors of parking with 10 floors of double-loaded units, as the site affords a complete lake view in all directions.
• Units will be a mixture of both for-sale and for-rent units. Additionally, purchasers of units will have the option to rent their units on a short-term basis. The Island Towers will collect a management fee for this, comparable to units in Florida and the Gulf Coast.
• After year 10, the complex will be sold in preparation for the Opportunity Zone tax-free distribution for the equity investor and GP partner.

LP / GP Structure

Total Project Costs:
• Phase 1 – Carson’s Lakeside Village – $80,000,000
• Phase 2 – Island Towers – $167,000,000

Projected Returns:
• If operating under a Non-Opportunity Zone Structure – 22% IRR
• If operating under an Opportunity Zone Structure and Tax Benefits – 30% IRR

Contact the QOZ fund for further information.