Southern Grove Summary and Fact Sheet Southern Grove Fact Sheet

SOUTHERN GROVE FACT SHEET What and where is Southern Grove? Southern Grove is a 3,605-acre Development of Regional Impact (DRI) south of Tradition Parkway. It is a part of an 8,200-acre region known to the public and marketed as “Tradition.” The Southern Grove section is the land to the east and west of Village Parkway, south of Tradition Parkway and north of the Martin County line by Becker Road. This land is approved for a mix of uses, including research and development, industrial, commercial and residential units. Southern Grove includes the Tradition Center for Innovation, which includes Tradition Medical Center, Keiser University, the Florida Center for Biosciences and the Torrey Pines Institute for Molecular Studies. Southern Grove also includes the developing Tradition Center for Commerce, which will be anchored by a new 400,000 sq. ft. manufacturing facility for City Electric Supply. With high visibility and easy north-south access to Interstate 95, this land in Southern Grove – which is shovel-ready and entitled for commercial and industrial uses -- has long been envisioned as Port St. Lucie’s future jobs corridor and an integral part of the City’s long-term economic prosperity. In fact, as far back as 2004, these 1,321 acres of the jobs corridor were designated as an “employment center” in a report by the Urban Land Institute which analyzed the best uses for the land in this area. Because of the way Port St. Lucie was platted by its original developer, General Development Corp., there are no other similar vacant, large commercial and industrial parcels in Port St. Lucie – and all of South Florida -- that could be developed into this jobs corridor with the potential to create more than 22,500 jobs including retail, office, hotel, warehousing, hospital and research and development. Who currently owns the undeveloped parcels in Southern Grove? In early 2000’s, developer Core Communities, LLC. owned the land and proposed the original Tradition “Development of Regional Impact.” In 2010, during the height of the real estate downturn, Core defaulted on its obligation to Tradition Land Co.’s affiliate. Through a consensual foreclosure process Tradition Land Co. became the owner of Southern Grove by necessity, not by choice. Tradition Land Co. and its affiliates did not intend to be principals or take on the role of master developer when the original loans were made. Why does Tradition Land Co. now want to liquidate its interests in Port St. Lucie? Tradition Land Co. is not a developer, marketer or community builder and has determined that it is the appropriate time to transition Southern Grove to owners/developers (such as Mattamy Homes) with the expertise and focus to maximize future development opportunities.