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MIAMI-Gearing up for expanded operations in 2003, Michael Todd’s Capitol Communities Corp. of Boca Raton, FL has recruited Ashley Barrett Bloom as a vice president from Coopers & Lybrand.

Bloom specialized in corporate finance and financial modeling at the CPA firm. At Capitol, he will oversee real estate development acquisitions and other company operations.

Capitol Development owns about 700 acres of land in Maumelle, AR, a planned city that will comprise commercial, industrial and residential development.

Capitol’s Arkansas subsidiary, Capitol Development of Arkansas Inc., has left Chapter 11 after paying its secured creditors a total $7 million in lieu of a reorganization plan.

The company filed for protection under the U.S. Bankruptcy Code July 21, 2000, after the Illinois Department of Insurance, successor to a failed insurance company, sought to foreclose on an unsuccessful planned sale of 1,000 acres the Arkansas firm ownws in Maumelle.

Capitol Communities also has vacation and hotel properties in Pompano Beach, Orlando and Hot Springs, AR. The company’s Web page states Capitol plans to acquire more resort properties, then convert them to timeshare and long-term leasehold properties.

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