Four homebuilders expect to construct total of 1,000 homes at WildBlue on Corkscrew Road
Brittany Carloni, Naples Daily News | Published 7:00 a.m. ET Aug. 10, 2018 | Updated 12:09 p.m. ET Aug. 10, 2018
WildBlue, Estero, Florida community location map
Four homebuilding companies have committed to construct the 1,000 homes planned at WildBlue, a proposed gated community on east Corkscrew Road in unincorporated Lee County.
The WildBlue homebuilders are Lennar Corporation, Pulte Homes, Stock Development and WCI Communities — a Lennar-owned company.
Land development, such as clearing and dirt churning, has started within WildBlue, said Danielle Tocco, vice president of communications for Lennar Corporation, the master planner for WildBlue.
Lennar and Pulte will build the first model homes at WildBlue, which are planned to be completed in the second quarter of 2019, Tocco said.
Home models built by WCI Communities and Stock Development will come later in 2019.
Homes within WildBlue are planned throughout the nearly 3,000-acre property, which is just east of the Village of
Estero. The community borders Corkscrew Road to the south and Alico Road to the north.
WildBlue will include 872 acres of lakes and 1,329 acres of preserve land spread throughout the community, in addition to other on-site amenities, according to a Lennar release.
Each of the four companies are planning homes in the varying sizes and price ranges:
- Lennar will offer homes from 1,800 to 3,800 square feet at a price range from $400,000 to $700,000.
- Pulte Homes is planning homes from 1,671 to 3,900 square feet at a price range from $400,000 to over $1 million.
- WCI Communities will offer homes from 2,000 to 4,000 square feet at a price range of $400,000 to $1 million.
- Stock Development will offer homes from 2,500 to more than 4,000 square feet at prices from $600,000 to more than $4 million.
Homebuilders bought WildBlue property in May
Lee County property records show Lennar, Pulte and Stock each purchased WildBlue land in May from the property’s original developer, Alico East Fund, which is controlled by Private Equity Group of Fort Myers.
Lennar Corporation owns the largest parcel of WildBlue at just over 1,900 acres, which includes the biggest lake in the community, property records show.
Lennar got involved in WildBlue because south Fort Myers and Estero are “highly desirable places to live,” Tocco said.
“There’s a lot to offer,” she said. “They’ve always been home to Lennar, and we continue to find ways to help the area grow.”
Lennar-owned WCI Communities, which will construct homes within WildBlue, does not own property in the development, according to property records.
CalAtlantic Group, another Lennar company, purchased just over 700 acres of WildBlue from Alico East Fund for $27.5 million in December. CalAtlantic merged with Lennar in February.
A representative of Stock Development said the company plans to build 148 homes on land at WildBlue, but directed other questions to Lennar.
Pulte Homes will construct 256 homes on 220 acres of company-owned land in WildBlue, according to a Pulte news release.
Pulte plans to build homes similar to what the company is currently constructing at Corkscrew Shores, another community on east Corkscrew Road, said Richard McCormick, president of PulteGroup’s Southwest Florida division.
McCormick described WildBlue as a “partnership” between the community’s homebuilders.
“I think it’s a really exciting project,” he said. “It’s a large project and It will be highly visible.”
Lee County says it has initial plans for park near WildBlue
In 2015, Lee County commissioners approved a development agreement that allowed Alico East Fund to build up to 1,096 single-family homes and 40,000-square-feet of retail on the 2,960-acre site at WildBlue.
Alico East Fund in the agreement also granted Lee County 488 acres for a public park and emergency services use.
Lee County acquired the land for the park in August 2016. The county parcel is located just south of Alico Road in the northwest corner of the WildBlue development.
Lee County Parks & Recreation has initial concepts for the land, but is still discussing them, county spokeswoman Betsy Clayton wrote in an email.
In Estero, residents have long protested development on Corkscrew Road east of the south Lee County village.
Village residents have especially voiced concerns about how increased development will impact traffic on Corkscrew Road, which narrows to two lanes east of Interstate 75.
Lee County has begun work on four interim improvements to east Corkscrew Road, which includes installing electronic speed signs and creating a westbound to southbound left turn lane on Corkscrew Road near the entrance to The Preserve at Corkscrew.
Those improvements will help road safety in the area as traffic increases due to construction, said Estero Councilman Jim Wilson, who represents Estero communities on east Corkscrew Road.
Lee County expects to select a designer in about four months for the county’s project to four-lane Corkscrew Road, Clayton said.
The project will be segmented into two phases, Clayton said. The stretch of road from Ben Hill Griffin Parkway to gated community Bella Terra would be phase one. Phase two would be from Bella Terra to Alico Road.
Once a designer has been selected for the Corkscrew Road project, design of the first phase will be completed in 18 months, and phase two design should be completed six months later, Clayton said.
Lee County expects to begin construction of the first phase of the project in late 2020, Clayton said.
Do you want to stay up to date with “developments” at WildBlue? Email david@davidcritzer.com to be included on a “special” list for firsthand development information.
The Bay House,Naples Florida
Two Naples restaurants make list of 100 most scenic places to eat in America
Looking for dining with a view?
Two waterfront restaurants with picturesque views of Naples waterways have made a national list of most scenic places to eat.
OpenTable, an online restaurant reservation website, announced its 100 most scenic restaurants in 2018 based on the reviews of OpenTable’s verified diners, according to the website. The list highlights restaurants that offer “breath-taking views of nature, cityscapes and travel-worthy landmarks.”
The Bay House, overlooking the brackish waters of the Cocohatchee River, and The Turtle Club, the Vanderbilt Beach Resort’s beach-side restaurant, both made the OpenTable list.
The dining room on the water was newly redone in 2015 in muted, elegant colors of the waterscape and features a hand-crafted dory and other watercraft suspended from the ceiling. (Photo: Contributed)
The Bay House
Tucked away off U.S. 41 North in North Naples, The Bay House’s indoor and outdoor seating gleans with modern finishes, its golden lights reflecting off the bay. The menu offers an eclectic claw bar of beer-brined, peel-and-eat Gulf shrimp and plump oysters by the dozen or half-dozen. Its well-crafted entrees include pan-seared swordfish and smoked bacon and basil crab cakes.
799 Walkerbilt Road, North Naples; 239-591-3837; bayhousenaples.com
The Turtle Club
The Turtle Club’s more casual dining atmosphere is just steps away from Vanderbilt Beach. Its Gulf-inspired menu covers seafood chowder, fish sandwiches and blackened fish with lump crab.
The restaurant and its hotel has history, too. It launched in 1998 on the grounds of Vanderbilt Beach Resort, considered the first hotel established on Vanderbilt Beach in 1951.
9225 Gulfshore Drive N., North Naples; 239-592-6557; turtleclubnaples.com
The Turtle Club is located at Vanderbilt Beach Resort. Lauren Kummer via Wochit
Bonita Springs, FL | August 27, 2018 —— According to the Bonita Springs-Estero REALTORS® (BER) Media Committee, pending sales saw an uptick in July 2018 compared to July 2017. “The number of price repositions in July has affected approximately 33 percent of pending sales,” stated a Bonita Springs Broker. In July 2018, there were 265 price repositions for combined single-family homes and condominiums. This number represents approximately 20 percent of active listings that were re-priced to represent the current market value. Area brokers agree that the continuation of price repositions will increase through the month of August 2018, causing pending sales to increase as well.
Appraisal activity in the area has also remained steady for this time of year. Julie Ross, appraiser with Carroll and Carroll Real Estate Appraisers and Consultants, stated, “The number of appraisals that took place in Bonita Springs and Estero in July 2018 is historically normal for the summer season.”
According to Realtor.com, there were almost 8 million search result page views in the Bonita Springs and Estero markets for the month of July 2018, which is approximately 1 million views over June 2018. “We know buyers will continue to look at Bonita Springs and Estero because it is an amazing value compared to other neighboring cities in Southwest Florida,” stated BER President and Area Broker, Joe Pavich, Sr.
Inventory for both single-family homes and condominiums in July 2018 was 1,362 units versus 1,389 units this time last year, which is a less than 1 percent decrease. The average days-on-market has also remained steady with just a 4 percent decrease over July 2017.
Overall, the Bonita Springs and Estero markets showed a 43 percent increase in pending units and a 13 percent increase in sold units for July 2018 versus the same time last year, and the median price is $375,000 for July 2018 versus $325,000 in July 2017. Additionally, the supply of available home inventory is higher in Bonita Springs and Estero than the national average, which sits at just 4.3 months.
The Bonita Springs-Estero REALTORS® July 2018 Report shows these overall findings for both single family and condominiums combined.
| Month over Month 7/2017 |
|
Month over Month7/2018 |
|
% Change |
|
|
|
|
|
|
|
|
|
| Pending Sales Units |
|
106 |
|
152 |
|
43 |
|
| Closed Sales Units |
|
127 |
|
143 |
|
13 |
|
| Median Closed Price |
|
$325,000 |
|
$375,000 |
|
15 |
|
| Average Days on Market |
|
91 |
|
87 |
|
-4 |
|
|
|
12-Month Ending7/2017 |
|
12-Month Ending7/2018 |
|
% Change |
|
|
|
|
|
|
|
|
|
| Pending Sales Units |
|
1,773 |
|
1,771 |
|
0 |
|
| Closed Sales Units |
|
1,790 |
|
1,676 |
|
-6 |
|
| Median Closed Price |
|
$355,000 |
|
$365,000 |
|
3 |
|
| *Active Inventory |
|
1,389 |
|
1,362 |
|
>1 |
|
| *Current Avg Month’s Supply |
|
9.3 |
|
9.8 |
|
>1 |
Click image to enlarge.
According to the National Association of REALTORS July market report, existing home sales in America decreased for the third straight month as a result of the severe housing shortage that is not releasing its grip on the nation’s housing market.
Conversely, homes sales in the Naples area were up 8 percent in July according to the July 2018 Market Report released by the Naples Area Board of REALTORS which tracks home listings and sales within Collier County. The nation has only a 4.3-month supply of home inventory, while Naples has a healthier 6.25-month supply of inventory.
“The Naples area overall median home price increase in July 2018 seems to be the only statistical category where we match national trends,” said a local Broker, “Naples saw an 8 percent increase in its overall median closed price in July 2018 compared to July 2017; whereas nationally, median closed prices went up just 4 percent. But median closed prices for properties over $300,000 in the Naples area decreased 2 percent in July 2018 compared to July 2017.”
Interestingly, while July’s overall inventory fell 1 percent to 4,871 properties from 4,928 properties in July 2017, inventory increased 5 percent in the $300,000 and below price category. In fact, inventory for single-family homes in this price category jumped 21 percent in July to 345 from 286 in July 2017.
“There are 1,154 single family homes and 1,722 condos for sale under $500,000 currently,” said Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty. “Economists predict home sales in America during 2018 will not be as good as 2017. However, we’re seeing the opposite in the Naples area. Granted our sales were hampered by a hurricane in 2017, but there are no signs that interest in buying a home in Naples this year might drop because of temporary climate or environmental phenomena. We have a healthy inventory, an increase in closed sales, price stability and a decrease in the days on the market compared to July 2017.”
July also saw a huge 39 percent jump in condominium closings in the Naples Beach area. Closed sales for August look strong too in this segment as pending sales for condominiums in the Naples Beach area increased 55 percent in July 2018 over July 2017!
Overall pending sales in Naples were up 11 percent in July, with only one price segment ($500k-$1M) reporting a decrease compared to July 2017.
“Pending sales for luxury condominiums [$2 million and above] in July were up 150 percent,” said another local Broker. “The strength of the luxury market segment for both single family and condos continued into the summer months, a reflection of sustained confidence among the affluent witnessing the longest economic expansion cycle in the nation’s history and record corporate earnings.”
How buyers are purchasing homes in Naples is very different than the national average home buyer, as well. Cash sales accounted for only 20 percent of home purchases in July nationally. But in Naples, cash sales accounted for 50 percent of all home sales in July.
The NABOR® July 2018 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® July 2018 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
| CATEGORIES |
July 2017 |
July 2018 |
CHANGE
(percentage) |
| Total homes under contract (pending sales) (month/month) |
720 |
796 |
+11 |
| Total closed sales (month/month) |
682 |
738 |
+8 |
| Median closed price (month/month) |
$319,000 |
$345,000 |
+8 |
| Median closed price >$300K (month/month) |
$485,000 |
$474,000 |
-2 |
| Total active listings (inventory) |
4,928 |
4,871 |
-1 |
| Average days on market |
105 |
93 |
-11 |
| Single-family closed sales (month/month) |
354 |
372 |
+5 |
| Single-family median closed price (month/month) |
$409,000 |
$435,000 |
+6 |
| Single-family inventory |
2,552 |
2,542 |
0 |
| Condominium closed sales (month/month) |
328 |
366 |
+12 |
| Condominium median closed price (month/month) |
$248,000 |
$255,000 |
+3 |
| Condominium inventory |
2,376 |
2,329 |
-2 |
According to Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., inventory in neighborhoods west of US 41 are beginning to tighten. “I think we can expect some upward price pressure in areas where the inventory supply level is below 4 months, like Pelican Bay.”
Carroll also noted that the number of affordable homes in areas like Golden Gate City and South Naples is growing. “In April 2018, Golden Gate City had a 1.3-month supply of inventory; today it’s at a 3.7-month supply. While a majority are priced on the high end of the $0-$300,000 price category, it might still provide some new opportunities for first-time homebuyers.”
In response to the question of whether home sales will be affected by a longer-than-average red tide occurrence, one local Broker responded, “Clearly it’s a situation we are all watching closely, yet currently there’s no reflection in the pace of home sales. While impossible to ignore if at the beach on a day in which it’s more prominent, a block or two east you wouldn’t be aware of any issue and inland sales represent the vast majority of all activity in the market.”
It would be my honor to assist you and your friends and family with your real estate needs. If you are looking to sell a home in Naples, I have the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. I can also ensure your next purchase in the Naples area is a success.
Recent media attention on water quality issues impacting Florida’s marine and intercoastal areas is shining a bright light on a very important topic.
There are many factors at play, which is why it requires collaborative efforts from several groups including the Department of Environmental Protection, Army Corps of Engineers, scientists at Florida marine labs, local water management districts, and elected state and federal officials. NABOR® has been working actively for many years to encourage restorative solutions to our waterways and will continue to meet with legislators who are working on remedies that protect homeowners and the environment.
This informative newsletter was created by NABOR®’s new Water
Quality Advisory Task Force, led by President-elect Jeff Jones, and board members Adam Vellano and Corey McCloskey. Future issues will keep members aware of water quality issues and the work accomplished to reduce human activity and behaviors that worsen the situation.
NABOR® is on the Water’s Edge
While there have been no reports of cyanobacteria blooms in Collier County, the source of the problem is a concern that is on NABOR’s radar. As such, an emergency water quality status meeting was organized by members of your board during the Florida Realtors annual conference. Over 100 REALTORS from around the state attended and were given an update on proposed solutions and existing projects currently underway.
For more news about SWFL Water issues read the August_2018_Water_Quality_Newsletter PDF
