anyone seen this from the 12th?
CWFG -- Commonwealth American Financial Group, Inc.
Com (20 Cents)(New)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Commonwealth American Financial Group Signs Definitive Agreement With NW Capital Partners, LLC
MIAMI, Dec 12, 2005 (BUSINESS WIRE) -- Commonwealth American Financial Group, Inc. (Pink Sheets:CWFG) announces that they have signed a definitive agreement with NW Partners LLC to purchase and develop 91 existing and 22 vacant lots in West Palm Beach, FL. The agreement establishes the contractual arrangements between the corporations.
The project consists of 91 existing units (to be renovated or demolished) and 22 vacant building lots in the Northwest District of Downtown West Palm Beach, Florida. The approximate cost to purchase the existing units and lots is $7,500,000. The plan is to purchase and develop medium and high density housing with starting sales price of $250,000 per unit. The development will consist of single family homes, condominiums and retail commercial.
NW Capital Partners, LLC (the Partners) was formed by the Northwest Communities Development Partnership, Inc. (the CDC) a Florida not-for-profit corporation. The CDC's mission is to use its community stakeholder resources, which includes working relationships with the City of West Palm Beach, land owners and developers-builders to facilitate the revitalization of the Downtown Northwest neighborhood.
Kristin Mary Ryals CEO said, "We are excited about this venture because there is huge demand in downtown West Palm Beach and these properties are the next properties to be developed in the downtown West Palm Beach redevelopment plan. The location of the properties adjoins City Place and others." See links: http://www.cityplace.com/
m the 12th?