SARASOTA, FLORIDA, June 1st, 2017 – More roofs loom to be added at the Rye Road corridor that already teems with pre-construction sales listings at the Del Tierra and Rye Wilderness communities in East Manatee. In May, the members of the Manatee County Planning Commission voted unanimously to recommend approval of a new community tentatively called Rye Estates/Coddington Subdivision on a 120-acre site between Rye Road and Waterline Road.
Medallion Home, the flagship company of local developer Carlos Beruff, is behind this project planned for a total of 360 homes. The builder, which is undertaking this project as Rye Estates LLC, is seeking a rezoning of 61 acres of the property with an additional 208 units to existing approvals on its connecting parcels.
In its entirety, the project is proposed for a rezoning of three units per acre. The Manatee County Commission is scheduled to review the planning board’s recommendation this June for a final decision. Medallion’s proposal conforms to the future growth guidelines of Manatee County and is aligned as well with the parameters set in nearby developments like Del Tierra along Rye Road.
Del Tierra is a community encompassing over 600 home sites, offering builds of D.R. Horton and its Express Homes unit. Their listings in the MLS of Bradenton homes for sale start on new builds of one-story houses priced in the $200s, featuring three bedrooms and two baths within floor areas measuring 1,672 square feet.
The top choices in this community are two-story homes sales-listed in the $400s. These residences are designed with floor areas from around 3,000 up to 4,275 square feet with four to five bedrooms.
Across Del Tierra, D.R. Horton is also building at the Rye Wilderness subdivision on the southeastern flank of Rye Road. The builder’s prime offerings here include homes with floor plans approaching 4,400 square feet designed with five bedrooms and priced around the $500s.
A bit farther north in the Parrish side of Rye Road, Medallion Home already has existing builds at Twin Rivers. One recent listing of a home it built in 2014 has a tag price around the mid-$400s, featuring four bedrooms and three baths within a floor area of 2,470 square feet. The asking price on Twin Rivers’ resale homes with about 4,500 square feet of living space are typically quoted at just a shade under the $800s.
Amongst the factors driving the home market in the Rye Road area is the projected opening of the Fort Hammer Bridge in August this year. Costing $23.5 million, this span will provide a new north-to-south route which should help strengthen the home values of its surrounding communities. Notably, the new bridge will create the first direct north–south connection between Parrish and Lakewood Ranch.
The construction of the two-lane bridge also includes creating bike lanes and improvement on road shoulders. When completed, the span will have a sidewalk on the east side and turn lanes at both of its north and south approaches. A traffic signal has already been installed on the bridge’s south side at the Upper Manatee River Road intersection.
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>>