JACKSONVILLE, FL-Spotting a niche in compact, single-story structures with ample surface parking spots, the Philadelphia-based developer has started construction on Cypress Business Center II, a planned 42,500-sf, class A venture at the 120,500-sf Cypress Business Center.

ORLANDO-Austin, TX-based FaulknerUSA plans to return to the Osceola County board of commissioners before year end with revised financing on the planned $325 million, 450,000-sf Osceola Convention Center near Walt Disney World, 20 miles south of Downtown.

ATLANTA-HUD says locally based Znet Financial agrees to pay the Treasury Department $15,000 and 14 ReMax of Atlanta agents have agreed to refund a total $9,200, or $400 to each customer referred to Znet.

ATLANTA-The proposed zoning category for conservation subdivisions would force developers to allocate at least 40% of land in new residential developments for public parks. Developers would then be allowed to build more houses on smaller lots.

ATLANTA-Larry Gellerstedt III, whose family name has been synonymous with top construction projects in the city for 75 years, has formed The Gellerstedt Group LLC and recruited three area professionals to help lead the company to high-profile civic and institutional building ventures and intown residential development.<p>

ORLANDO-In their second multifamily investment of the year, the Rockville, MD-based developer pays Invest Corp. of New York $35.1 million for the newly built, 98%-leased Fountains at Waterford Lakes in east Orange County.

JACKSONVILLE, FL-Locally based Advanced Career Training signs a 10-year lease at an estimated gross aggregate rent of $3 million in Building C at the 50%-occupied Metro Square95 Office Park at Interstate 95 and Emerson Boulevard here.

BUSHNELL, FL-In a rural area where there are only 44,000 permanent residents and about 500 multifamily rental units, Rock Properties and