Commercial Developments Perk Up in Charlotte


SARASOTA, FLORIDA, July 24, 2017 – Commercial development has stepped up in Charlotte County in the wake of significant gains of its residential sector in recent years. Just this July, a new Publix opened on the Burnt Store Promenade just west of Tamiami Trail (US 41).
This supermarket’s old building here was completely demolished late last year. A new one was constructed to the delight of nearby residents/customers especially those living at the neighboring Burnt Store Isles, a potent buying destination for Charlotte homes for sale.

First Wawa Set

First Wawa Set

Farther up north in Port Charlotte, Wawa is set to open its first location in the county at the west junction of Tamiami Trail and Midway Boulevard. Work on the site has already started, with the old strip center in the location already torn down. Completion and opening of this popular store/gas station franchise is expected in six to eight months, a prospect which should add to the marketability of neighboring Port Charlotte homes for sale.

Besides these retailers, other businesses recently drawn by Charlotte County’s perky consumer market include car dealerships and restaurants like the recently opened Pioneers Pizza at 4560 Tamiami Trail in Port Charlotte. An urgent care center of MedExpress located at 2200 Tamiami Trail near the Oak Forrest Condominium on Forrest Nelson Boulevard was also inaugurated sometime in the second half of last year.

Prime Growth Drivers

Babcock Ranch

Two major property developments in Charlotte—Babcock Ranch and Murdock Village—are strong drivers to the recent commercial endeavors in the county. Dubbed as the first 100 percent solar-powered city, Babcock Ranch is planned within 17,000 acres and programmed to have 19,500 homes and 6 million square feet of commercial space.

Home models are now available for touring in this development located off Florida State Road 31 east of Punta Gorda. These new residences feature floor plans of between 1,860 and 3,750 square feet typically with three bedrooms and pricing in the $300s‒$700s range. Plans are also afoot to build single family homes and villas in Babcock Ranch priced from the high $100s up to the $200s.

Large Water Park Eyed

The Murdock Village project is planned for up to 2,400 residences to be comprised of single-family homes, multifamily villas and townhouses, as well as market-rate rental apartments. This development is likewise reported as gearing up for a $132 million entertainment district with a large water park, several hotels and 200,000 square feet of commercial spaces.

The recent hype created by Charlotte’s residential and commercial developments has provided significant market boost on resale homes in the county. Last May, the median price of a pre-owned single-family home in the county rose 12.5 percent to $216,513, sustaining an uptick observed since last year.

More Resale Homes

Twin Isles Country Club

There was a steady increase too on Charlotte market’s home inventory, with supply having improved from as low as a 3.9 months’ supply in August last year to 5.2 months as of February 2017.

The community of Burnt Store Isles provides some fresh choices in the new inventory of Charlotte homes for sale coming in. This July, a three-bedroom residence with a floor area of about 2,500 square feet was sales listed here with an asking price in the $400s. Its locality is valued for its proximity to the verdant golf links of Twin Isles Country Club, with the energized commercial developments of Punta Gorda and Charlotte counting in as well.