Developers are upping up their ante in Manatee County in an apparent move to position themselves to grab a significant share of the estimated 300,000 people expected to migrate to Florida soon.
One of the most aggressive moves was taken by D.R. Horton, a Texas-based national homebuilder, which has scheduled construction starting August for its Del Tierra community. This development is located on a 665-acre site at Upper Manatee River Rd. near Rye Rd. It is near the existing community of Country Meadows and plans call for the construction of 610 homes at Del Tierra.
D.R. Horton expects to commence selling in early 2015. The Del Tierra residences will be priced starting from the high $100s range.
A developer from El Segundo, California, MB Reo-FL Land LCC, is also jockeying for an inside track at the Manatee home market. The company has proposed development for the Pennington Park, a project mothballed due to the Great Recession and reputedly the last undeveloped property west of Parrish and north of Palmetto.
MB Reo-FL Land’s plans call for the construction of 486 single-family homes and 300 multifamily residences. The developer is also proposing for the Pennington Park site on the southeast corner of Interstate 75 and 69th Street East 100,000 square feet of retail space, large enough for a supermarket.
WCI Communities, a regional homebuilder, is as assertive as D.R. Horton and MB Reo-FL Land. In July, WCI completed purchase of a total of 150 lots at The Links at Rosedale.
The company said two- and three bedroom residences will be constructed on these lots. Grand Villa, a home model to be featured at the Links, has a starting price close to the mid-$200s. At the WCI community of Tidewater Preserve in Bradenton, quick-delivery homes are also currently available at asking prices starting from the $300s up to the $600s.
As optimistic as other Manatee developers, Neal Communities has undertaken a lot-buying spree in the county in recent months. One of these purchases was a 39-acre site on Pope Road which the Lakewood Ranch-based developer said will be the site for a 120-home new community.
Neal also bought a 28-acre site in South Manatee’s Prospect Road where it plans to have 45 homes built in its proposed Woodland Trace development. At the southeast corner of Whitfield Avenue and Prospect Road in South Manatee, Neal has also purchased 43 acres of grazing land for future development.
In another deal, the land division of Neal Communities sold to Bradenton-based Medallion Homes 71 acres on Upper Manatee Road. A 139-home community is reportedly being considered for development in this acreage.
The property is located near Medallion’s new development, The Enclave at Country Meadows neighborhood which consists of 68 home sites. Medallion is offering at the Enclave homes and home sites ranging in floor area from 2,300 square feet to over 3,000 square feet. Their quoted prices start at $324,000. Located near the Braden River, this community has a variety of home sites including waterfront locations and those which are adjacent to nature preserves.
SARASOTA, FLORIDA, October 7, 2019 – Property values of communities in the Sarasota-Manatee region now face lesser threat from neighborhood eyesores brought about by abandoned, foreclosed homes. Known in the real estate trade as zombie foreclosures, these properties have shrunk significantly in the region. According to an August report of ATTOM Data Solutions, abandoned […] more>>