 The Lake Arbor CDP was delineated as of the 2000 U.S. Census.Lake Arbor was originally known as Newbridge, a development of Levitt & Sons, developers of the early planned communities of Levittown in Pennsylvania and Long Island, New York, respectively.When the project went bankrupt in the mid-1970s after selling only 41 houses, Manufacturer's Hanover Trust acquired the debt and held it as REO (real estate owned) for approximately 10 years until a limited partnership composed of David A. Gitlitz, Alvin Dworman, Phillip Abrahms, Phillip D. Winn, and Gary S. Lachman acquired it.