With leasing 75 percent complete, phase one of the purchase closed recently and involved 308 apartme

TAMPA, FLA . – Tampa developers Charles Funk and Jeff Meehan have sold their award-winning community of Seabourn carnivalcruises Cove, the nation's largest sustainable multi-family venture, for $108.5 million to The Heitman organization, a Chicago-based global real-estate-management firm.
With leasing 75 percent complete, phase one of the purchase closed recently and involved 308 apartments, the phase one clubhouse and all amenities, says Rick Lococo, Seabourn Cove's project manager and partner.  The second carnivalcruises part of the transaction – involving the sale of phase two's 148 apartments, clubhouse and amenities – will be completed in August.
Encompassing nearly 23 acres near the Intracoastal Waterway between U.S. 1 and Old Dixie Highway, Seabourn Cove is the largest sustainable community of multifamily homes in the country, reports the National Association of Home Builders Research Center.
The gated community of high-end rental homes earned a coveted gold designation from the National Green Building Standard as the nation's largest green, multifamily community.  It also is the first community of its kind to be so honored.
With such features as pre-wiring for high-speed electric-vehicle chargers in each of the community's 300 townhome garages, and energy bills expected to be significantly  lower than comparable nearby rental communities, Seabourn Cove is in the vanguard of Boynton Beach's comprehensive re-invention as a green city.
Seabourn Cove's apartment homes range in size from 888 to 1,718 square feet of living space.  These one-, two- and three-bedroom residences with one to 2.5 baths, include single-story flats as well as two- and three-story townhomes.
Its Mediterranean-inspired design with balconies and barrel-tile roofs is accented by hundreds of indigenous trees and plants for a south Florida aesthetic that is attractive while reducing Seabourn carnivalcruises Cove's heat-Island effect.
This community was created by developers Charles Funk, Jeff Meehan and Rick Lococo in cooperation with the City of Boynton Beach as part of its drive to become the epicenter of sustainable living in Florida.
The Tampa-based development carnivalcruises team represents more than a half century of real estate development carnivalcruises experience that includes numerous residential and commercial ventures across the state.  These include the communities of Arbor Greene and Stonelake Ranch in Hillsborough County; the Bank of Tampa building and the Bayside Marina, both in Tampa; as well as Cypress Pointe, a Coral Springs apartment community.