After a few years of recovery from the real estate bubble, new home construction is on the rise in Naples, Florida in 2012. Builders are seeing the decrease in resale inventory as a strong signal to build now.
Many projects that were put on hold, or scaled back, are seeing renewed interest from buyers. Below are three communities where home construction is on the rise in 2012.
1. Lely Resort
At Lely Resort, builders are ramping up construction on single-family homes in the Lakoya neighborhood. According to Ken Vidkery, Sales Associate, “In Lakoya (prices range from $389,900 to over a million) we have sold about 50 of the 372 total homes to date. We plan on a robust season in 2012 with increased sales of single-family homes outweighing multi-family.”
2. Estuary at Grey Oaks
There is also increased building activity in the Estuary at Grey Oaks with six new luxury homes under construction in the $3 million to $4 million range. This luxury home community has only 175 homesites on 350 acres of marsh covered wetlands. According to Sam Heitman, Broker Associate, “construction costs are still down. If you buy a lot and build a 4,000 square foot home, you can be somewhere in the mid $2 million range. The Estuary at Grey Oaks is about 80% sold at this time.”
Perhaps the most exciting new home community to rise in years is just weeks from it’s grand opening. Riverstone is expected to be an immediate hit for homeowners looking in the $300,000 to $600,000 price range.
This 850 home community will have Rich amenities like an 11,000 square foot clubhouse with extras like a lagoon style pool, lap pool, tennis courts and activities director.
According to Mark Weber, Broker at White Sands Realty, “the opening day at Riverstone may be a free-for-all like we saw in with many community openings in 2005 and 2006. I’ve even heard of buyers and Realtors planning on camping out the night before to be first in line for the best lots. I have a client flying in just for the event.”
“There will be no golf course, so HOA fees should remain low. But don’t let the missing golf course fool you. Riverstone will have all the luxury of a golf course community without the added fees,” added Weber.
Riverstone opens to the public on January 28th, 2012. You can get more information about Riverstone, including brochures, by emailing firstname.lastname@example.org. For information on Lely Resort, the Estuary at Grey Oaks or Riverstone, please call White Sands Realty at 239-417-1115.