About Sanford Waterfront Partners

Sanford Waterfront Partners, LLC (SWP) is a Florida limited liability company formed March 8, 2016 for the purpose of assuming all rights and responsibilities of Torre Construction and Development, LLC under the Memorandum of Understanding between Torre Construction and Development, LLC and the City of Sanford, Florida (the City), dated February 23, 2016, and acquiring and developing the Property referenced as the Waterfront Catalyst Site and /or Heritage Park.

The Manager Members of SWP, each with equal interest, are Richard J. Heisenbottle (RJH) and Venny Torre (VT). The Manager Members intend to develop the Property and reposition portions of the Property for resale to the public.

Background Information and Timeline
In August 2015, the City of Sanford, Florida issued a Request for Qualifications (RFQ) to solicit qualifications from interested parties regarding the potential redevelopment of 5.5 acres of vacant and blighted City-owned parcels within the Lake Monroe Waterfront Downtown Sanford Community Redevelopment Area (the “CRA”).

On September 30, 2015, the team of Torre Construction and Development, LLC (serving as the Prime Developer) and R.J. Heisenbottle Architects, PA (serving as the Design Architect) submitted a qualifications package in accordance with the general requirements outlined in the RFQ. This team of award-winning professionals also included Dover, Kohl & Partners (DKP) serving as the Master Planners for this project.

Following a presentation before the City Commission in December 2015, the team (the “Developer”), was selected as the most qualified submitter.

In February 2016, a final Memorandum of Understanding (MOU) between the City and the Developer was executed to set forth the terms and conditions in connection with drafting the Master Plan for the development of the Catalyst Site / Heritage Park. During the course of this MOU from February 2016 through February 2016, the Developer responsibilities included a Real Estate Market & Financial Analysis, Community Planning Charrettes, Conceptual Master Plan and Development Agreement.

On March 8, 2016, the Developer formed Sanford Waterfront Partners, LLC.

The final Master Plan was approved by the City Commission in September 2016.

As of mid-March 2017, the final Development Agreement has been negotiated and was unanimously approved by the City Commission on May 8, 2017.

The project is estimated for completion in late 2021.