A development firm is adding to its holdings in the Florida Keys, spelling the imminent end of the Fiesta Key KOA, according to a report in the Florida Keys Keynoter.
Cortex Resort Living, formed last year by Cortex Companies, said it bought the 28-acre property from Billings, Mont.-baseed Kampgrounds of America to build “high-end vacation homes.” The price was not disclosed.
It will continue to operate as a KOA through the 2007 season, then will close, spokeswoman Amanda Brotherton said.
“It won’t be a KOA,” she said. “It’s going to be in the same vein as what we’re doing, (but) we don’t – at this point haven’t done – too much in planning what the development is going to be.”
According to the Keynoter, Cortex has several other properties and projects in the Keys, including:
• The company is looking for approval to revamp the Oceanside Marina, to be called Kings Pointe, on Stock Island and add 32 market-rate residential condos to the marina.
• Cortex wants to obtain the permits needed from the former Jabour’s Trailer Court in Key West. Jabour’s is the site of the proposed Watermark condo development, also owned by the Cortex group.
• Create 45 affordable housing units at the Lazy Lake RV Park, also owned by Cortex, in Sugar Loaf Key. There are 100 units on the Lazy Lakes site. The developer wants to be able to transfer the remaining 55 market-rate units from Lazy Lakes to another unspecified site in the future.
• Cortex recently bought the 154-unit America Outdoors RV Park in Key Largo to transform it into the 90-unit Playa Cristal Resort. It’s being marketed as “reminiscent of the glory days of Cuba” and prices range from $850,000 to $3 million.
• Cortex owns the 53-home Angler’s Reef in Islamorada, the high-end Coral Hammock development on Stock Island, and the Roosevelt Suites business plaza in New Town Key West. It also has holdings in Boca Grande, located on Florida’s Gulf Coast.