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Jacksonville developer inks Black Diamond deal

LandMar Group LLC has a purchase agreement but has yet to become the project developer.

By CATHERINE SHOICHET
Published November 22, 2005

A Jacksonville developer known for designing luxury golf course communities is considering buying lots within Black Diamond and about 600 acres surrounding the exclusive Lecanto community.

According to an e-mail sent by Black Diamond administration director Marina Taylor to property owners last week, LandMar Group LLC has entered into a purchase agreement with Black Diamond Properties Inc.

Jim Doyle, LandMar's vice president for marketing and sales, said Monday that representatives from the company are meeting with Black Diamond residents and conducting a feasibility study to evaluate whether it will become the developer of Black Diamond Ranch.

"LandMar would be very excited to become the successor developer of such a premier community," he said.

Doyle declined to discuss details of the company's plans. Information will be provided to residents in the community before it is provided to the public, he said.

But Taylor's e-mail included a fact sheet stating LandMar's goals for the property, including:

--Adding surrounding properties and expanding amenities

--Adding shopping and work spaces on neighboring highway land

--Creating a larger, master-planned community with mixed-use aspects

--Expanding marketing efforts

The fact sheet said LandMar is not buying Black Diamond Properties Inc., the company that owns and operates all the golf club facilities. But LandMar has agreed to buy 100 of the remaining equity memberships in the club.

Equity club memberships are $70,000 for all residents, according to the Black Diamond Web site.

"There is no intent to change the current private club status or invite public daily fee play," the fact sheet said.

Developer Stan Olsen currently owns Black Diamond Properties and built the 795-home and four golf-course subdivision.

Inverness attorney Clark Stillwell, who represents Olsen, declined to comment on the purchase agreement and directed questions to Black Diamond Real Estate vice president Joe Cappuccilli.

Cappuccilli did not return calls requesting comment Monday.

LandMar, founded in 1987, typically builds high-end homes and anchors them with golf courses. The company's projects include Grand Haven, a 1,600-unit development in Flagler County that features a golf course designed by Jack Nicklaus and Southern Hills, a 999-lot subdivision under construction on U.S. 41 south of downtown Brooksville.

Black Diamond resident Bob Dion said he was concerned Black Diamond would lose its exclusive, small community feel if LandMar becomes its developer.

"There's no question LandMar is a very fine company, but they will run it like a large business," said Dion, who also sent an e-mail to more than 200 residents last week expressing his concerns.

--Catherine E. Shoichet can be reached at cshoichet@sptimes.com or 860-7309.

[Last modified November 22, 2005, 02:15:27]