Trevi Isle- A long Time Coming But well worth it

Trevi Isle in Palm Beach Gardens, Fl was Stephen Gravett’s longest ever approval process on any Kennedy Homes project. The land was just under 13 acres in area and was approved for 50 townhomes. Its features include an elaborate gated entry, a cabana building with a resort styled pool and its own parking area. It borders a 3 acre preserve at its entrance. This is the second Trevi project for Kennedy a mere ½ mile from Gravett and Kennedy’s first project in 2010, Trevi at the Gardens (TAG). The original Trevi was 75 units on 10 acres and had a starting price of $279,900 to just over $300,000.

Gravett took the successful floorplans from TAG from 4 years earlier and tweaked them adding slightly more square footage and coming to market during pre-construction at the $390’s to the $420’s. Sizes ranged from 1756sf to 2044sf with 3 and 4 bedroom floorplans.

Trevi Isle was a remainder parcel left over from the old Eastpointe CC. It was subsequently sold to a developer who defaulted on its loan from Sabadell Bank in Miami. Gravett purchased the land for Kennedy out of the Sabadell REO holdings. The property relied on permission by the Florida Turnpike Authority (FTA) for its access across their easement. After 14 months of getting nowhere with FTA, Gravett hired the Tallahassee lobbying firm of Brian Ballard to purchase the land from FTA. He was successful arranging the purchase for Kennedy of FTA land thereby solving the access problem.

With the time frame of the normal approvals from the city and the delays of the FTA, Trevi was way behind on getting the land developed and selling. Once the FTA problem was solved Gravett was able to finalize the approvals, open for pre-sales and build the model buildings. Kay Green was again called in to decorate the 4 models. Three buildings were started as sales began. Then Gravett’s long standing partner Bob Kennedy suffered a massive stroke rendering him unable to perform as Kennedy’s Chairman. Shortly, thereafter the family appointed Rob Kennedy (Bob’s oldest son) as Chairman of Kennedy Homes. The family wishes were to liquidate Kennedy and close it down. Stephen Gravett brought in a friend and investor of he and Bob Kennedy, Steven Fischer. Fischer purchased Trevi Isle and hired Gravett to run the project and re-open for sales. That was in June of 2020. Today Trevi Isle has just two of 50 units left to sell. Since reopening Trevi is selling its remaining inventor at a price point of $479,900 to $529,900. Stephen Gravett started the approval process in late 2014.

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