Tiger Woods made a massive announcement on Monday morning. Woods will team with pop music star Justin Timberlake on a new land development project in Florida.
Bloomberg reported that Woods’ project will spark in Wellington, Florida, located just outside of West Palm Beach.
“An international developer backed by Tiger Woods and Justin Timberlake has joined an effort to build a sprawling residential community with stores and a revamped golf course in Wellington, a South Florida equestrian town near Palm Beach. Plans call for single-family homes, condos, a hotel, and a golf club on a site spanning 600 acres (243 hectares),” Bloomberg wrote.
The backer, Christopher Anand, is the CEO and managing partner at Nexus Luxury Collection. He is involved with Joe Lewis and Lewis’ private equity called the Tavistock Group with himself, Woods, Timberlake, and golfer Ernie Els, according to Bloomberg.
The publication noted that stores, offices, and restaurants are in the plans as well. They also plan to update the already existing Cypress Golf Course too.
As you might expect, the prices for the homes and condos are expected to be hefty. And by hefty, we mean really hefty. According to Bloomberg, “Completed condos and single-family homes will start around $4 million to $5 million. Sites for custom homes will range from a quarter-acre to 5 acres and be priced from $3 million.”
