New Development Planned in Charlotte County
Part of the reason the Southwest Florida housing market is so expensive? They’re not making any more land. Therefore, the strategy for developers and county planners in these changing times is how to best utilize what little is left.
According to the Sarasota Herald-Tribune, a 138-acre chunk of undeveloped land along the east side of I-75 near the Charlotte County Airport is set to become the area’s newest planned community.
Fort Meyers-based Land Solutions Inc. plans to turn the property into 232 single-family homes and 380 town homes aimed at middle-income buyers, with plans earned approval from the county’s Development Review Committee.
“Our goal is to get as close to affordable housing as we can,” said Ron Inge, COO of Land Solutions and its sister company, Development Solutions LLC. “This will not be something that’s upscale.”
The company said it was too early to predict the project’s home price range. The project, currently called Oak Haven, would be bordered to the north and south by Jones Loop Road southeast of Punta Gorda. DRC Chairman Tom Burns says there are no major problems reported at the onset.
Plans for the parcel of Florida real estate call for the destruction of less than one acre of wetlands. As required by the county, about 40 acres are being preserved as open space, including a pond and land that abuts Alligator Creek.
Gary Quill, the director of operations at the airport, is concerned that the project’s close proximity to the airport would affect its future, as many airports around the country have closed because of residential encroachment.
Quill asked that a condition be placed on the development that requires the company to notify potential home buyers in writing about the airport during the title transfer process, making it less likely that the airport could be sued over noise complaints.
Land Solutions has been the primary home building company or project manager for more than two dozen projects throughout Southwest Florida. This is the fourth development in Charlotte County by the company, with the previous project being the 349-unit Devonshire community.
As Florida mortgage costs have fallen for the seventh time in eight weeks, many buyers are seeing openings in the local housing market. Developers are being given incentives to create moderately-priced units as concerns of a mass exodus of the county’s workforce continue to arise. Expect this trend to continue in the coming years.
