The Man who would Buy Babcock

"We had a market study done, then took a look at what type of products, what type of price points would be best suited for that location," says Kitson. The community was situated beside Grassy Waters Preserve, and Kitson joined its board of directors.

"We formed a partnership with them to make that part of our community, which was very successful," he says.

A shopping center was added "to make it more self-sustaining," he says. They also added neighborhoods and changed the master plan to provide more open space. "We feel that people are not as interested in being on a golf course," he says. "They're more interested in preserve and water views, so we made those changes also."

The company's success in turning around Ibis spurred David Kinsey, a planner in New Jersey and visiting lecturer at Princeton University, to invite Kitson to address his graduate-level Land Use Policy and Planning course.

He met Kitson in the late '80s in hearings dealing with affordable housing, a long-standing conflict that has pitted some affluent New Jersey municipalities against developers. Kinsey served as special master in mediation between municipalities and groups of developers that included Kitson.

"The sessions were challenging, but he was appropriately patient and eager to participate in trying to find common ground, and that's important," says Kinsey.

New Directions

After Gale, Wentworth & Dillon bought out Ibis, Kitson took his consigliere's advice to start his own company.

"With Morgan Stanley, Kitson & Partners bought Ibis from the Blackstone Group and the Gale Wentworth & Dillon side of the business," says Brockway.

The company became Gale & Kitson, and then Kitson & Partners. In 2000, the company took its current shape with partners Brockway, Tom Hoban, who had been with Morgan Stanley, and Chuck DeSanti, a consultant who was referred to Kitson by Morgan Stanley connections.

All are equity stakeholders, says Brockway. "We're managing partners, but we all co-invest in projects as well."

The company has about 20 senior personnel, 30 corporate employees, and Kitson figures more than 1,000 total employees, depending on current projects. Neither Kitson nor Brockway will discuss the private company's financials.

Here's how Kitson describes his job: "You build houses, you build communities, you own and operate golf courses, you build golf courses, you manage pro shops, banquet facilities, food and beverage facilities, recreational facilities, we have a sales and marketing team. There are just so many aspects to this business, and quite frankly that's why I like it so much. If you get bored easily, you should definitely get into this."

Kitson has largely phased out homebuilding, although "we build all the infrastructure," he says.

In addition to developing communities, Kitson & Partners helps golf courses and private clubs worldwide boost bottom lines. "We're turnaround specialists," says Brockway.

Beyond Ibis and Grande Champion, Kitson & Partners-with differing investors-claims several other projects at various stages, including Posner Park near Orlando and Bear Brook Golf Club in New Jersey.

Big Enough for Babcock?

None of them comes close to rivaling the company's plans for the Babcock property.

"Babcock is bigger for anybody in the business. There are very few who have the opportunity to be involved in a project this size," says Kitson.

Although Babcock Florida Co. reportedly had many suitors, two factors swayed it to Kitson: "We liked very much that he had the same idea of development and protection of the land, and we liked [the] financial support he had," says attorney Farr. With Morgan Stanley behind the company, "He's got a mighty powerful backer."

But Kitson's lack of experience with projects the size of Babcock concerns Janes. "The fact that he's not done a town or anything that large . it all depends on how long his backers want to wait to get a return. We've had several new town concepts in Lee County and none of them have worked." Even after 25 years of development, the Gateway project has not been completed and has run into financial trouble at several junctures, he points out.

Davis, of 1000 Friends of Florida, might not know anything about Kitson, but she certainly has heard of the Babcock proposal. "It's really nuts to keep developing the state like this," she says. "Florida seriously needs to look at growth management."

Opponents also worry that Kitson will sell the property as soon as the development permits are secured. "A lot of folks wonder whether he isn't just going to flip it," says Janes. "In other words, once he gets everything, he'll just sell it out to anybody who knows how to develop a new town. And that could be the family's desire, too. I don't know."

Brockway insists that's not Kitson's style. "This is a very long-term deal," he says of the Babcock project. "I remember one commissioner asking early on, 'Are you going to get this done and then flip it?' Syd said, 'This is something that's a legacy. It reflects on me, my company and my family. I'm going to be involved in it from start to finish.' And he

means that."