And four additional stories published in 2016 and 2017 that tell a more comprehensive story of the ongoing New Errol project.
Editor’s Note: This is the article chosen by The Apopka Voice readers as the biggest story of 2017.
The City Council votes 4-1 to move the New Errol project to the state level
First published August 24th, 2017
- A redesigned championship golf course
- A 15,000 square foot clubhouse with restaurant
- A boutique lodge hotel
- A two-acre water park
- Outdoor parks and trails
- 264 new residences
- A resort-like Adult Living Facility
It was also learned that the project would cost $150-million to construct in total and that the 10-year projection for the project is expected to net $121 million.
The City Council was cautiously optimistic and voted 4-1 to approve the Ordinance (2581) on first reading. This moves the project to a state review, but before the voting, there was significant skepticism and hard questions asked of Signature H.
“For us the responsibility here is… I kind of feel like I’m the father whose daughter’s heart has been won and now we have to have “the talk”,” said Commissioner Doug Bankson. “It is our responsibility to be skeptical. Are there any holes? Because this is a big issue… this is tremendous. Anyone who sees this would want this to come to Apopka. We would love to work together on this. But the big question is can you produce?”
Bankson asked about Signature H’s experience in golf course development or projects similar to this.
“Personally none,” said Helmut Wyzisk III, President, and COO of Signature H Property Group. “That’s why you bring somebody in like Steve Smyers. He’s done courses all over the world. And then you’ve got a great superintendent who has built courses with Steve Smyers. They’ve done this before. They have a track record. No one is looking at us saying ‘Are we going to draw a design? Are we going to engineer it? Are we going to shovel the dirt?’ That’s not our expertise. You get the right guys in the room for that.”
Steve Smyers is a world-renowned golf course architect based out of Lakeland that is contracted to oversee the redesign and redevelopment of the Errol golf course, according to Signature H.
Bankson also asked about the funding for the project.
“As soon as this is re-zoned, the value of this property goes up a lot,” said Wyzisk III. “So we’re able to subordinate the project with the value of the property. So the property itself goes into the deal, so that provides us equity funds initially to start building out the amenities, building the clubhouse, building the water park… starting with the amenities first so we can get the high dollar value that we want for our residentials.The rest of it is debt financing. As this started to go public, we started getting calls from a hand full of people that were interested in this project, and we’ve been vetting them the last few months, and it’s only picked up. We’ll be coming out next week with an announcement as far as who we selected as a financing partner who will go forward with us.”
Bankson remained troubled by the lack of experience Signature H brought to the project.
“If you come in saying we’ve already done this type of project and here is the proof it’s much easier to make that leap. Not to cast aspersions on you, but it’s not unreasonable to say you don’t come with credentials of having done this before, although you come with a great team in place.”
Wyzisk III pointed out the unique nature of this project as reasoning for a lack of experience.
“To your point as far as having done this and experience… the reality is … no one has. No one comes to you and says ‘I’m in the business of re-developing golf courses. I’m going to corner that market. This is brand new. To think that two or three people are going to steer this is a joke. This requires a team and I think that is one of our strongest assets… we’re business-minded entrepreneurs … we’re problem solvers. We’re not golf course developers. Team building is within our skill set, and that’s what we’ve done. But this is truly the last opportunity for this golf course to ever operate again. It will close on September 4th, and if this project doesn’t go through, I can confidently say it will never open again. It just won’t.”
Wyzisk’s father Helmut Wyzisk Jr., the Chairman and CEO of Signature H Property Group, explained further.
“This is like a wheel with spokes. It only works if all the elements are together. If you pull the ALF, if you pull the water park, and you pull the revenue stream, it doesn’t work. If any of that stuff was modified, then we wouldn’t even be here today. When we take the model and the refinement the City has done, it’s just gotten better and better. I can assure you there is not a doubt in my mind, or in Signature H Property that this project will be funded before we get this rezoning done. So there’s your assurance. This plan has come together so well and with so much support, and it’s a good business model. Because the reality is from our perspective, we could just build 800 homes…forget the golf course. There’s no risk to us. We’d do exactly what you said. We’d go to Pulte or KB Homes. We’d plot-out a plan and that’s it. We’ve got no risk. We make $40-million and leave the city.”
“That’s what we don’t want,” said Bankson.
“But that’s what I’m saying,” said Wyzisk Jr. “This is going to happen either way. The property is not going to sit there. On September 4th it closes… it’s done. But this plan has not even thought of that process. That’s not even on our radar. That shows you we have confidence in this business model.”
Commissioner Kyle Becker also displayed a significant amount of doubts toward Signature H. He was also the lone dissenting vote.
“Conceptually I love the idea. I’m a golfer myself. I think for the community this is a value-add. But what the presentation lacks is who you are at Signature H. As a company, you haven’t done a project like this or scale…so can you shed light on what you have done? In terms of a company.”
“In terms of the company, this is a new venture for us, so we are a collaboration of the individuals you see in the front row and more,” said Wyzisk III. “What I said before about team-building…so we are entrepreneurs first. But if you look at this, it isn’t just a real estate project. This is a business model, so we came at this as businessmen… as entrepreneurs.”
“And that sounds nice,” Becker responded. “But when you’re seeking finances to do a project, the first thing they ask is ‘What do you do for work? How do you make money? How are you going to repay the debt you’re asking me to give you?…How do you answer that?”
It’s real simple,” said Wyzisk Jr. “We’re subordinating the property into the deal. You’re taking 400 acres of property that will be rezoned with no debt on it – zero debt – and you’re subordinating it to an equity player.”
“So how much is the land worth currently?” Becker asked.
“We will be able to make that public to you…,” said Wyzisk Jr.
“It’s on the property appraiser website,” said Becker before Wyzisk Jr. finished his answer.
“We’re doing a pre and post-appraisal of the property,” Wyzisk Jr. said.”
“So you don’t know how much it’s worth?”
“It doesn’t really matter what it’s worth right now,” said Wyzisk Jr. “We know the value today as it sits (zoned) Parks and Recreation is not very much.”
“$1.8 million, which represents a 58% decrease from the last time it sold for $4.5 million,” said Becker. “How much do you anticipate the total cost to construct the golf course, water park, lodge, clubhouse and the assisted living facility? The total operation?”
“The entire project is about $150-million when you add the residential and everything over four years in the market study,” said Wyzisk II. “But I think what you’re getting at is how will you fund the amenities. Is that what you’re trying to get to?”
“Absolutely,” Becker answered. “If you’re saying the basic economics of the deal is going to cost $150-million to construct all of these capital assets, the land value you’re saying you’re using for equity and subordinate positioning is not anywhere near that value, I’m wondering how you are selling the value to those who are investing in the project?”
“Obviously you have a business model and an operation,” said Wyzisk Jr. “Basically you’re doing an economic analysis. You’re looking at a 10-year model revenue stream. So there will be a combination of equity financing and debt financing, so quite simply we believe that the property will put off enough revenue stream to justify that. We project $121 million in net profits over the next 10 years. That’s why we’re doing it. So if you’re looking at it from a developer’s perspective, you either take $40-million and run or you operate it and make $121-million over 10 years.”
“Who will be operating it?” Becker asked.
“There will be multiple operators,” said Wyzisk Jr.
“Do you have those online?”
“They are under consideration,” said Wyzisk Jr. “We haven’t made decisions like on the ALF. I think we answered that question earlier.”
After the difficult questioning process, the meeting took public comments from the audience, which was largely positive towards Signature H judging from its applause, and the majority of public comments that expressed support for the project.
Before returning to the Council’s final comments before voting. Wyzisk Jr. explained that he appreciated the hard questions, and vowed to address them before the next stage.
“All of these concerns and questions are valid, but all of them will be dealt with at the next level before the development plan is submitted. We are very aware of all these issues that have been brought up tonight.”
Apopka Mayor Joe Kilsheimer was pleased by the research done by the commissioners and expressed an interest to move forward.
“I think all of the elected officials on this Council have done their homework, and I think all of the questions asked are valid questions. I think the process that we’re going through is about finding safeguards and we’ve got three more cracks at this to get it right before they are allowed to proceed. Tonight has not been entirely pleasant for the applicant, but probably necessary in terms of putting questions on the table that the community needs to address before we proceed. So at this point, I’m willing to accept the staff recommendation to move forward.”
Becker was still not convinced Signature H could overcome their lack of experience.
“If this were an emotional response, I would be in favor of it. The idea, the concept, the plan… I say great. My challenge is there is no history of performance and no history of facilitating talented teams like they say they need for this project to succeed. They’re entering a business that in their own language is a dying business. So you add risk on top of the fact they have no history with these projects. There is no disclosure of who the investors are or how much the property is worth. They have no plan for who will run these assets when they are actually in play, and the value of the property is speculative based on future land use. With all that said I just don’t have a level of confidence.”
Bankson was also unconvinced but wanted to give Signature H more time to prove their case.
“I think these are all valid points, and where we are at is an opportunity for the applicant to answer all of those concerns. But you’re saying you can’t make those announcements now, but before we’re at a place where it’s absolutely green-lighted, there’s still a safety measure to explore and give you an opportunity. I will say it’s not a personal matter, but if someone came to paint my house and presented me with a beautiful picture of that house, but they’ve never painted a house before, I would be skeptical. As someone stated, that’s not trust, but a leap of faith. So I would ask that you present us with resumes of each party to show they do have that level of expertise. I would want to see more of those proofs that you say are coming between now and the next step.”
“Our team is very pleased with City Council’s decision to move forward with our plan for New Errol,” said Wyzisk III. “They examined our plan closely, asked questions, and ultimately agreed with the recommendation of their staff to move our project forward for State review. We’re pleased, but we still have a few steps to go. This wasn’t just a win for us, but also for the Errol Estate community and Apopka. The plan for New Errol has enormous support from the community and that was clearly demonstrated to City Council tonight.”
“We heard the types of thoughtful questions you would expect from a City Council,” said Wyzisk Jr. “Sure, a few were a bit premature considering how early we are in this process, but the good thing is that we now have some foresight of what they’ll want to be answered when we come before them next time. This vote gives Errol a chance to save the golf course and revitalize the community. Without this vote, I am confident the failing course would permanently close.”
New Errol to include Adult Living Facility
First published on April 9th, 2017
The intersection of Vick and Welch Roads in Apopka was a fairly quiet place a few years ago. But traffic volume increased when the south end of Vick Road tied directly into State Route 451, and the completion of Lester Road now allows traffic to flow more easily from Vick to Rock Springs Road.
But if two proposed projects happen, Vick and Welch could see heavier traffic.
Last month, AHO Holdings submitted plans to the city to build an entrance to their 4.3-acre parcel. The proposed entrance is approximately 500 feet south of the intersection of Vick and Welch. The concept plan shows 43 apartments in five separate two-story buildings and a clubhouse with a pool.
Early this month the developer of “New Errol,” Signature H Property Group, submitted their plans to the city. Much of the focus has been on the proposed new clubhouse, hotel, water park and 264 new homes to be built. But the proposal also includes an adult living facility that could serve as many as 240 people.
The center would be built on land adjacent to the proposed Meadow View Apartments, as this drawing shows:
The entrance to the facility would be where a golf cart path crosses Vick road, about 750 feet south of the intersection of Vick and Welch, not far from the proposed entrance to the Meadow View Apartments.
The proposed adult living facility would have three buildings. Two assisted living building, each with the capacity for 90 adults and a separate 60-bed post-acute rehabilitation facility.
“Neighborhood G,” as it is called in the New Errol plans, would be located on the 7th and 8th holes of the Grove Golf Course. The Grove Course has been closed for several years.
Here are the Artist’s renderings:
Editors Note: The previous version of this article identified the proposed 60-bed rehabilitation facility as an acute rehabilitation facility. The proposal is to build a post-acute rehabilitation facility.
New development will brand new name for Errol golf course
First published on September 20th, 2016
The Signature H Property Group thinks big. Show them a hill, and they think mountain. Show them a pond, and they think ocean. Show them a quiet golf community in Northwest Orange County, and they see a thriving golf resort, complete with a re-designed golf course, lodge, and water park.
Show them Errol Estate, and they think Staghorn Golf Club and Lodge.
That is the new name Signature H is proposing for its project at Errol Estate. The group presented its conceptual plan last week which focused on the amenities of what would turn a quiet golf community into a Central Florida Golf Resort. They explained that the name, Staghorn, was chosen as a tribute to the agricultural roots of the Apopka community.
Here is a look at the amenities Signature H is proposing:
A 15,000 square foot clubhouse will be the centerpiece of the project. It will house the pro shop, member locker rooms, an underground cart barn, as well as a restaurant, bar, event room, a second level terrace members-only rooftop terrace facing the 18th green.
The clubhouse will be the first construction item on the Signature H schedule.
In order to fulfill the idea of Staghorn being a resort, a small lodge or boutique hotel will be a part of the project, but it will serve several purposes. The design calls for 25-40 spacious suites, which will provide on-site lodging for guests, wedding parties, golf tournaments and corporate events. The lodge will be connected and in coordination with the clubhouse and restaurant.
Along with the suites, the lodge will include a fitness center, spa facility, a daycare center, and corporate offices including space for the Errol Estate Property Owners Association.
Weller Pools, a local builder, will design and build the water park. Weller has also designed and built projects for Sea World, Aquatica, Reunion, YMCA and Windsor Hills. The water park will include a lazy river, a large pool with a lounge area, a splash pad, recreational slides, a pool house featuring a concession, bar, kitchen, and grills. The feature of the water park will be a 4-lane Olympic size pool to be used by the Apopka High School swim team.
According to Signature H, the water park will be built in unison with the clubhouse.
New Vick Road Entrance
There will also be a new entrance on Vick Road directly across from Wekiva Springs Reserve. It will be lined with lighting, parks and landscaped frontage roads. The road will be designed to alleviate traffic on Errol Parkway, and will provide many residents a more efficient route in and out of their communities.
The “grand park” is currently proposed to be built between Linkside Court and Orange Grove Lane. It will be the starting area for the community walking trail which will provide residents a safe path to walk and enjoy the unique terrain of the Errol landscape.
Redeveloped Errol golf course to be modern, sustainable
Classic Joe Lee design to undergo significant changes
First published on September 22nd, 2016
In 1971, Joe Lee designed a golf course nestled in the northwest corner of Orange County called Errol Estate Country Club. It was soon heralded as a gem, and Lee emerged as one of the top golf course architects in the business.
Two years later, the club was doing so well they had Lee build another nine holes. The 27 holes were described as elegant, contemporary and modern for its time. The land itself looks as if it belongs in North Carolina rather than Central Florida. Lee took full advantage of its hilly terrain, large lakes, occasional forests and even wetlands to design what at the time was considered one of the best courses in the area. In short, it was a classic.
But that was over 40 years ago.
Today The Apopka Golf and Tennis Club at Errol is a struggling golf course in transition. The Signature H Property Group has entered into a joint venture to redevelop the course into a more modern and profitable venture.
Signature H announced it would redesign and relocate the 6th through 9th holes, and redevelop the entire course to some extent. They plan to have Lakeland-based golf course architect Steve Smyers make those changes.
Like Lee, Smyers has a great reputation with diverse designs like Bella Collina Country Club in Lake County, Isleworth CC in Orlando, Southern Dunes Golf and CC in Haines City, and his masterpiece design – the Old Memorial Golf Club in Tampa.
Smyers is excited to begin the redesign of holes 6-9 and the redevelopment of the entire course.
“The property with its unique combination of nicely flowing topography, pleasant mix of forested, open areas, watercourses and lakes, make for the creation of a truly world class golf experience,” Smyers said in an email statement. “The site lends itself for the development of a visually stimulating, environmentally and economically sustainable golf course. One that will be able to provide a thorough examination of one’s golfing talents while at the same time providing an excellent place for the everyday golfer to enjoy the game, the environment and the people. Staghorn Golf Club has the potential to develop into one of the best golf courses in the state of Florida. I am honored to serve as the golf course architect for this most exciting project.”
According to Signature H, the redevelopment will include new tees, fairways, bunkers and greens. It will add new eco-friendly grasses and modern equipment that will lower maintenance costs and create a more sustainable golf operation. The goal is to develop the course into a championship caliber course to promote tournaments and destination golf.
Even Lee, the iconic architect of Errol, understood the need for change.
“Golf course design is never finished, he once said. “It’s always in a state of transition.”
New Errol to build 264 new homes
First published on April 5th, 2017
Back in September the Signature H Property Group revealed their concept plan to build a new clubhouse, hotel, water park and more than 250 new homes on Errol Estate. Last week their proposed Planned Unit Development Master Plan was filed with the City of Apopka. The PUD Master Plan is similar to the original concept plan, but there are some changes and additions.
Homes will be built on the current driving range,as well as the 6th , 7th, 8th and 9th holes. Here are their plans and the tentative names for each area:
Driving Range – Garden Homes
Signature H plans on building 66 townhomes that will be 1,500-2,000 square feet in size on the current driving range. This has been designated as “Neighborhood A” in the PUD Master Plan.
6th Hole – Park Homes
The 6th hole is where “Neighborhood F” will be located. A mix of 76 single family homes and townhomes ranging from 1,500-3,000 square feet will be built. The homes would be accessed by a new road connecting to Lexington Parkway.
7th Hole – Summit Homes
26 single family homes ranging from 2,000-3,000 square feet in size are planned for the 7th hole which is designated as “Neighborhood E.”. The proposed new entrance to Errol will result in a new road down the south side of the 7th fairway from Vick Road to Lexington Drive. The new entrance road is proposed to be named Staghorn Drive.
8th Hole – Lake Homes
Staghorn Drive will cross Lexington Parkway and continue up the 8th fairway. 25 cottage homes overlooking the golf course will be be 2,000-3,000 square feet in size will be built on either side of the roadway in “Neighborhood D.”
9th Hole – Carriage Homes
Staghorn Drive would continue up the left (west) side of the 9th fairway. This is a change from the Conceptual Plan which showed the road on the right (east) side of the 9th fairway. Signature H plans plans to build 44 carriage homes on the fairway near Linkside Village in “Neighborhood C.” These houses will range in size from 1,600-2,000 square feet.
Amenity Area – Club Homes
Staghorn Drive would cross the top of the hill about where the current clubhouse is located and then connect with Errol Parkway near the current entrance to the golf course. To the north of Staghorn Drive would be the new clubhouse, hotel and waterpark (Amenity Area). On the south side would be “Neighborhood B,”- 24 club homes ranging from 2000-3000 square feet in size.