Crystal Lagoons has reached an agreement with Tenth Street Ventures and EcoVest Capital Inc. to bring Public Access Lagoons ™ destinations to Georgia and North Carolina
ATLANTA, Oct. 19, 2022 /PRNewswire-PRWeb/ -- Crystal Lagoons has signed a regional exclusivity agreement with two Atlanta-based companies, real estate firm Tenth Street Ventures (TSV) and ESG real estate group EcoVest Capital Inc., to create EcoWave 10, LLC and bring Public Access Lagoons™ (PAL™) destinations to Georgia and North Carolina.
Crystal Lagoons® technology can create lagoons of any size in an environmentally sustainable way, while recreating a Caribbean-style environment with turquoise waters, white sand, and water sports, open for visitors through an entrance fee. PAL™ projects often feature hotels, multifamily residences, retail, restaurants and venues for weddings, conferences, concerts, and other events.
Crystal Lagoons has seen the rapid expansion of its PAL™ projects throughout the United States, where the multinational innovation company has more than 260 projects in different stages of development and new agreements being signed throughout 2022.
"Our artificial lagoons and PAL™ projects have been a real hit with the U.S. public and have quickly caught on, especially in Florida and Texas. People in Georgia and North Carolina, faced with hot and humid summers, will now be able to enjoy tropical beach life just steps from their homes. It is similar to how parks were born in England 200 years ago, bringing a piece of the forest to the city for people to enjoy nature," said Ivan Manzur, Senior VP of Sales, Crystal Lagoons US Corp.
TSV is a real estate management, construction, investment, and residential development company headed by Brian McCarthy. EcoVest Capital Inc. is a real estate private equity firm with a diversified real estate portfolio across multiple asset classes and geography.
For developers, the sustainability element of the Crystal Lagoons® technology has been a significant draw. These one-time-fill, closed-loop lagoons can use any type of water (sea, brackish and fresh) and require half as much water as urban green spaces. Additionally, they use up to 100 times fewer chemicals than the average swimming pool and only 2 percent of the energy of a conventional filtration system.
"Crystal Lagoons is one of the most intriguing concepts I've seen," McCarthy said. "It creates a water feature that's truly sustainable, open to all and builds a beachfront for further development. We can't wait to bring the first Crystal Lagoons destinations to Atlanta, Chattanooga, Athens and N.C."
EcoWave 10 is interested in bringing crystalline lagoons to Atlanta, Chattanooga, Athens and some of the main land-locked cities in North Carolina because they have favorable climates without coastline or beach life. Four to six projects will be developed in a 100 mile radius of Atlanta, including Chattanooga and Athens, while in North Carolina, Charlotte, a major U.S. financial and energy center, will see its first turquoise-water lagoon.
"We're actively looking for sites in our region and know that we'll have our first deals underway soon," added Alan Solon from EcoVest Capital. "The potential of these amazing amenities is limitless, consistent with our ESG values and is another way we build community."
After signing an agreement for the Atlanta metropolitan area, one of the five fastest growing areas in the United States, EcoWave 10 decided to sign a second contract for PAL™ projects in North Carolina, one of the most populated states in the country.
This is not the first time a partner of Crystal Lagoons has decided to develop additional PAL™ projects after signing an initial deal. The same happened with ADËLON Capital, who signed a master agreement for PAL™ complexes in Orlando and subsequently signed a second deal to develop these projects in Brevard County and other locations on Florida's east coast.
Texas, Florida, California, Georgia, North and South Carolina, Alabama, Tennessee, and Mississippi are just a few states where Crystal Lagoons has been expanding. The company now has over 260 real estate and PAL™ projects in different stages across the U.S. Among the most successful to date are Epperson, Lago Mar, Sole Mia, Balmoral, Windsong Ranch, Southshore Bay and Beachwalk.
Crystal Lagoons Media Kits: U.S. and International.
Images of Crystal Lagoons are here.
About Crystal Lagoons
Crystal Lagoons is a Miami-based multinational company that has developed a state-of-the-art technology allowing crystalline lagoons of unlimited sizes to be built and maintained at very low costs anywhere in the world.
With over 2,000 patents in 190 countries, its environmentally-friendly technology uses up to 100 times fewer chemicals and only 2% of the energy required by conventional swimming pool filtration systems. Additionally, lagoons powered by Crystal Lagoons® technology use up to 30 times less water than a golf course and 50% less water than a park of the same size. They can use sea, fresh, and even brackish water, which is abundant and has no other use.
Through its Public Access Lagoons™ projects, Crystal Lagoons is transforming cities worldwide and bringing idyllic beach life to people's doorsteps. These innovative amenities are accessible via ticketed entry and offer year-round entertainment, including water sports, concerts, weddings, events, trade shows, day clubs, restaurants, hotels, retail, and more. Crystal Lagoons currently has more than 800 Public Access Lagoons™ developments in different stages of operation, planning, and development worldwide. For more information visit https://www.crystal-lagoons.com/
About Tenth St. Ventures
Tenth Street Ventures (TSV) is a full-service real estate group specializing in acquiring and enhancing intown real estate assets in highly desirable locations. Each investment is tailored to capture the unique energy of the surrounding neighborhood. TSV employs a two-pronged approach: First, to capitalize on up-and-coming submarkets in the path of development, and second, to breathe new life into established neighborhoods with imaginative, ahead-of-the-curve projects. The TSV team is a curated partnership of professionals, spanning a variety of industries, who share a common vision. The team's background includes accounting, financial structuring, asset and property management, acquisitions and dispositions, deal structuring, development planning, construction management, brokerage, investor relations, architecture, design and marketing. The combined expertise and the team's past success is the foundation on which future, successful ventures are built. For more information, visit https://tenthsv.com/
About EcoVest Capital Inc.
EcoVest Capital is a real estate investment firm committed to helping build a better future for people and their communities. With a focus on delivering housing at more affordable prices, their portfolio includes single family, multifamily, seniors housing, and commercial projects across the United States. EcoVest's capabilities span the entire private equity investment lifecycle, starting with underwriting and origination through construction, property, and asset management. Standing by the belief that you can make money and still do the right thing, EcoVest chooses projects that have strong risk-adjusted returns and a positive environmental or social impact. For more information, visit https://ecovest.com/
Media Contact
Rachel Tobin, Tenth Street Ventures, 1 4042765930, [email protected]
SOURCE Tenth Street Ventures
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