Jim Cullis Departs Real Estate Developer LandMar Group
It’s nearly impossible to find a real estate developer that isn’t retrenching. Another victim of the real estate tsunami, long-termer Jim Cullis is gone from LandMar Group as of last Friday.
Palm Coast, Florida – February 2, 2009 – Jim Cullis, Central Florida Regional Manager for LandMar Group left the company effective Friday. Jim’s position has been eliminated. LandMar is owned by Crescent Resources, which is a joint venture of Duke Energy and the Morgan Stanley Real Estate Fund. Crescent Resources is a real estate development and land management company with projects in the southeastern and southwestern United States.
Cullis’s activities have been most evident in the Palm Coast, Florida area where LandMar has two on-going projects, Grand Haven (community and golf course) and Grand Landing. In conjunction with Hampton Golf, LandMar also owns The Grand Club, comprised of three 18-hole golf courses, The Pines, Cypress Course, and Matanzas, which is currently closed. Jim was recently installed as President of Enterprise Flagler, the public/private economic development promotion organization for Flagler County.
When I spoke with Jim today, was sanguine. The parting was amicable he said. Jim explained that there was really no need for him at LandMar. All LandMar projects had progressed as far as they could, awaiting a turnaround in the market. He has not decided what his next step will be, but he hoped it would include Palm Coast, where he has many friends and fond memories.
In addition to Grand Haven and Grand Landing, LandMar has received approval for a PUD at the south end of Colbert Lane straddling Roberts Road. It continues to work on permitting for an additional tract adjacent to the Matanzas golf course, but faces increasing resentment from adjacent property owners about the lack of progress.
Jim Cullis
Don’t think he will be missed in Grand Haven