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[[Image:JubileeLogo.jpg|thumb|right|180px|The former Jubilee Florida logo]]{{otheruses}}:''"Jubilee" redirects here. For other uses, see [[Jubilee (disambiguation)]]''

'''Contrada Hills''' (formerly known as '''Jubilee''' ) is a [[Wikipedia:New town|planned community]] slated for development on a 2,718-acre parcel in north [[Santa Rosa County]] near [[Pace]], between [[Berryhill Road]], [[Willard Norris Road]] and [[Chumuckla Highway]]. It was announced on [[March 20]], [[2007]] at a grandiose event and has employed a high-profile advertising campaign (see [[#Marketing|below]]). The massive residential project is planned to include 588 single-family houses in the first phase alone, priced between $275,000 to $1.5 million,<ref name="roadblock">"Jubilee hits roadblock." ''Pensacola News Journal'', August 8, 2007.</ref> as well as a private golf club designed by PGA champion and Pensacola resident [[Jerry Pate]]. The development was originally planned by Atlanta-based The Eagle Group, but was taken over by investors under the name [[2718 Santa Rosa]] when the project was hit by million of dollars in liens. It was renamed Contrada Hills in early [[2008]] and designated a "Community Development District" by the [[Santa Rosa County Commission]].<ref name="renamed">"Pace's Jubilee housing project renamed." ''Pensacola News Journal'', January 11, 2008.</ref> This status will allow the developers to issue interest-free bonds to pay for infrastructure improvements.

[[Image:JubileeMasterPlan.jpg|thumb|right|350px|Jubilee Contrada Hills master plan]]

On [[March 20]], [[2007]], the developers held an extravagant "announcement party" at the [[Saenger Theater]] featuring a private concert by country star [[Wikipedia:Travis Tritt|Travis Tritt]]. Subsequent marketing materials have described the development as the quintessential laid-back Southern town with slogans like, "Part memory lane, part Wisteria lane."

Later that month, the investors behind Jubilee, under the name [[2718 Santa Rosa]], took over the project from the Eagle Group and began to address the financial issues. According to 2718 Santa Rosa managing member [[Barney Ng]], "The Eagle Group had a development and purchase option agreement with us. They could not fulfill their contractual obligations. We had to step in and take over the situation."<ref name="backontrack"/> The new owners renamed the project "Contrada Hills" and sought recognition from the [[Santa Rosa County Commission]] as a Community Development District, a designation that would allow them to pay for infrastructure costs with interest-free bonds.<ref name="renamed"/> In [[2008]], real estate developer [[Euby Black]], who worked with [[Bolley "Bo" Johnson]]'s company [[Whisper Creek]] to negotiate the purchase of the project's 2,718 acres from [[International Paper]] (IP), filed a lawsuit against Ng, Johnson, and the Eagle Group's Ron Reeser, claiming they cut him out of the development and an estimated $190 million return on his investment. Black had worked with The Eagle Group and Santa Rosa County officials to develop the concept of the community, which he originally called Governor's Club and later Arcadia Hills. Ng's investor group, 2718 Santa Rosa, purchased the land from IP for $9.9 million and paid Johnson's company an assignment fee of $20 million. Beachwalk Associates, owned by Reeser, had planned to buy back the property later and agreed to give Black half of the profit of land sales and 20% of developed lots, but the planned transfer never occurred.<ref>"Developers' 'Jubilee' sours." ''Pensacola News Journal'', February 17, 2008.</ref> 2718 Santa Rosa countersued Black along with Reeser and Hal Hayes, claiming financial mismanagement and breach of contract. According to the second lawsuit, 2718 Santa Rosa kept control of the property because Beachwalk Associates "had proved unable to secure other financing to repurchase the property."<ref>"Lawsuits plague former Jubilee." ''Pensacola News Journal'', February 27, 2008.</ref>