BRIGHTWATER NEW CONSTRUCTION HOMES
The wait is Nearly Over
Open for Sales – Introductory pricing from $199,990*
Brightwater is planned to be the first community in the area to offer a Crystal Lagoon®️, an approximately 5-acre, man-made swimming pool with a white-sand beach and so much more! D.R. Horton Southwest Florida is offering a vast selection of home designs from both the signature D.R. Horton line of homes, as well as the attractively-priced Express Homes.
Brightwater is located in North Fort Myers on Pritchett Pkwy, north of Bayshore Road and just east of I-75.
Contact David for additional information, floor plans, and pricing, and to arrange a visit to Brightwater, call 239-285-1086 or email david@davidflorida.com.
Fort Myers News-Press | Published 6:11 a.m. ET Dec. 27, 2019 | Updated 10:18 a.m. ET Dec. 27, 2019
Southwest Florida’s expansive growth continued to boom in 2019, and the new year won’t be any different.
With thousands of people moving to Lee and Collier County every year, development has grown with the region’s population.
According to LSI Companies CEO Randy Thibaut, consistent growth, especially when it comes to housing projects that will accommodate the expanding population, is par for the course in Southwest Florida.
“What we see is that we roll into 2020 with stability in Southwest Florida as it relates to residential housing,” Thibaut, who has been a commercial real estate broker in Southwest Florida since 1982, said.
Part of what is driving this is “still strong buyer demand from retirees and baby boomers still seeking the Southwest Florida lifestyle” and low-interest rates, Thibaut said.
Overall, the CEO expects that 2020 will mark “another year of stable growth.”
As the decade wraps up, here’s a look at some of the major projects that could take shape in the new year:
Collier heads east with new villages
According to Collier County Chief Hearing Examiner and Planning Council Chairman Mark Strain, the largest potential for growth in 2020 and beyond lies in the rural areas east of Interstate 75.
“The most potential growth in the county is going to be out east,” he said. “The urban areas already have a lot of filled-in areas.”
Already taking advantage of this massive opportunity are five proposed villages to the east that “will have a great impact on all of the activities that go on out there,” Strain said.
The villages, which could add thousands of new homes, are wending through various stages of county review.
Collier Enterprises has proposed three 1,000-acre villages, stretching from just north of Oil Well Road to east of Golden Gate Boulevard East and potentially adding up to 7,850 homes to the rural area.
The first one, Rivergrass Village, will go before county commissioners in January.
Other villages are planned by Neal Communities of SWFL LLC and Palm Beach-based 27th Pico Boulevard Ltd. Partnership, along with Brentwood Holdings Ltd. Partnership.
Decisions about all of them could be made in 2020.
“The infrastructure that is going to be needed to support those will have to follow along with their building patterns,” Strain said. “The road system, the infrastructure for water and sewer, fire services, schools, all the rest of it will follow,” he said.
Towers in East Naples
A duo of high-rise projects at the corner of U.S. 41 East and Davis Boulevard that would change the face of East Naples could start coming out of the ground. One of those projects, Gateway, formerly known as Trio, includes 150 hotel rooms and 24 tower residences, along with retail shops and restaurants in the same nine-story building. Real Estate Partners plans a similar but larger project next door on 5 acres. The local developer has a contract to purchase the land from the county. The project includes a mix of housing, retail and entertainment in up to three towers, each as tall as about 15 stories. Construction on either, or both of the projects could begin in 2020.
More apartments
Allura, a luxury apartment complex proposed for the southeast corner of Veterans Memorial Boulevard and Livingston Road in North Naples, will be similar to this rendering of Lely Resort’s Inspira at Rattlesnake Hammock Road and Grand Lely Drive in East Naples. (Photo: Stock Luxury Apartment Living)
One project that could start coming out of the ground in 2020 is Allura. Naples-based Stock Development plans to build up to 304 multi-family rental units on 35 acres at the southeast corner of Veterans Memorial Boulevard and Livingston Road. The development was approved by county commissioners in September despite push back from neighbors. Approval of the project came after the builder agreed to keep 31 units of the complex affordable for 30 years. As a possible solution to some of the county’s affordable housing woes, these units will be rented at discounted rates to tenants or families that make 80% or less than that of the median area income.
Another development that could see construction begin in 2020 is the new apartment complex that will be coming to the defunct Courthouse Shadows Shopping Center in East Naples. The project has the potential to keep the shopping center, which has been referred to as an “eyesore,” alive. Right across from the Government Center in East Naples, the development would consist of a four-story, 300-unit complex with market-rate apartments. It was approved by the county commission in November and must now go through the site development plan process. County officials expected that construction may start on the apartments about a year after the commission’s approval.
Universities to expand
Florida SouthWestern State College will continue to expand its Collier County campus on Lely Drive, and the first phase of Keiser University’s Naples campus is expected to be completed in 2020. The two-story, 40,000-square-foot structure is being built on 6 acres along U.S. 41 in East Naples.\
Sports Park
The first phase of Collier County’s new multi-million-dollar amateur sports complex is slated to open by early June. The initial phase includes the first four fields, along with the concession area and welcome center. Ultimately, the $80 million complex will include 19 fields and a lake, along with a championship stadium with up to 5,000 seats. The project is being built off Collier Boulevard, just east of Interstate 75, and it’s expected to be completed by 2021.
More hotels in Collier, Lee
New hotels will open, while others plan to expand.
The beachfront Ritz-Carlton, Naples, has county approval to construct a new building with 74 rooms, but a timeline for the addition has yet to be announced. A parking garage as also been proposed as a second phase for the project.
The $92 million Luminary Hotel and convention center is set to open in downtown Fort Myers in August 2020. Construction on the 12-story, 243-room hotel first began in March 2018. The hotel itself will house 8,000 square feet of event and meeting space and will also be attached to the Harborside Event Center, which is being renovated as part of the project. The large-scale development isn’t standing alone, however. It will be the area’s first hotel in the Autograph Collection of Marriott International and is one of five planned for downtown.
Controversial One Naples moving forward
Stock Development has refined its controversial plans for One Naples one block from Vanderbilt Beach.
The company filed its development application with Collier County in October.
The project will wend its way through the county’s review and approval process in 2020. The latest plans include two high-rise condominium towers — and up to 25,000 square feet of commercial development.
New bank headquarters aims for 2020 opening
FineMark National Bank & Trust broke ground on their $27 million building off College Parkway in Fort Myers in November. FineMark, which has seen steady growth in Southwest Florida since its inception in 2007, will be utilizing the new 60,000-square-foot building as its new headquarters. The development will include 265 parking spaces and a second, 7,000-square-foot building. The company, which started out with just one office and 10 people, has grown to over 200 associates and has roughly doubled its total assets in the last five years. Construction on the project is expected to be completed by November 2020.
What lies in store for Margaritaville in 2020?
The controversial Margaritaville project could rear its head in the coming months but hangs in uncertainty. The 254-unit Fort Myers Beach development from TPI Hospitality moved forward in 2019, despite legal challenges. The resort project is set to include stores, restaurants and water attractions.
Christine Patton, a neighbor who lives close to the site of the resort, has taken legal action against it by attempting to overturn approval of zoning changes the town approved for the project. A judge rejected Patton’s attempt in 2019, but she has since filed an appeal with the Second District Court of Appeal in Lakeland to overturn the previous ruling. Despite hopes for a potential January construction start, a decision regarding the appeal has not yet been made by the court.
After over a decade of waiting, Downtown Village Square set to begin construction
This Cape Coral development that will take over a whole city block is set to begin construction in 2020 after over a decade of waiting. The project, which will be constructed between Cape Coral Parkway to the south and 47th Terrace to the north, is called Downtown Village Square and was first proposed in 2006. The first phase of the project will consist of the 58,000-square-foot office building, with a groundbreaking planned for July. Also included in the development is a six-story parking garage with 938 spaces, a 152-unit condominium complex and retail.
Long-awaited Cape Coral Lucky’s to open
The 30,000-square-foot Lucky’s Market grocery store at the southeast corner of Santa Barbara Boulevard and Veterans Parkway broke ground in September after work on the project began in 2007. Numerous roadblocks caused the delay, but it is finally moving forward with an opening expected for June 2020. The market will produce 150 jobs after its opening and will utilize dozens of construction workers.
Dan Creighton, of Creighton construction, has new development plans for the southeast lot of Santa Barbara and Veterans Parkway in Cape Coral. The development will include a Lucky’s Market organic foods store which will serve as the anchor for the location.
Stock Development – new construction at Wild Blue, Muirfield VIII Coastal. photo: Stock Development
By Meghan Belnap RISMEDIA, Monday, October 28, 2019
In most cases, it makes sense to search for older things rather than their newer counterparts when you want to save money. This doesn’t, however, always hold true when it comes to buying a home.
Here are several factors that can lead to older homes costing more than new construction:
Energy Efficiency
One of the great things about buying a new home is that everything inside is new. This generally means that most of the appliances and systems were built in the last few years, which in turn means that they tend to be more energy-efficient. On top of better appliances, newer homes feature the latest in design for insulation, from the framework to the material used in building. This means that, over time, the cost of owning new construction can actually be substantially less than the cost of owning an older home.
Perks Specific to Older Homes
Sometimes buying an older home can also cost more simply because it has perks that aren’t available in new homes. Classic architecture, antique fireplaces or period-specific additions can command a great deal of money, and they’re simply not features that you get in a newer home. Buyers who want these features are willing to pay a premium, which drives up the price of homes that have those touches. As such, new construction may be much cheaper in comparison.
Maintenance Costs
Older homes cost more to take care of than newer homes, if only because time tends to be unkind to any building. In the short term, at least, it’s also more likely that a homeowner would have to replace big-ticket items in an older home than in a newer home. New construction homes may cost more upfront, but the actual cost of living in an older home will generally be quite a bit more.
Property Value
In many cases, the true cost of a home comes down not to the style of the house or what perks it offers, but rather the value of the property on which it sits. New construction can often be less expensive simply because the area in which it was built hasn’t had time to gain the same sort of social cache as older construction. An older home in a well-established neighborhood is almost always going to cost more than new construction in a less desirable area.
Old homes aren’t always cheaper than their newer counterparts. Even when new construction costs more to buy, it can still cost less than living in an older home. As such, it’s always a good idea to look at both types of homes when you’re trying to find something that will fit your budget!
This was originally published on RISMedia’s Housecall.
Meghan Belnap is a freelance writer who enjoys spending time with her family. She finds happiness in researching new topics that help expand her horizons.
To tour new construction homes and existing older properties call David at 239-285-1086 or email david@davidflorida.com.
Click graphic to enlarge September 2019 Infographic.
Home Showings Lead to Increased Sales
Naples, Fla. (October 25, 2019) – The Naples area housing market enjoyed another 7 percent increase in overall closed home sales for the third month in a row. This trend leads a Broker to suggest that the consistent uptick in summer home sales illustrates that Collier County is becoming less seasonal.
According to the September 2019 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), showings in September 2019 were up 31 percent over September 2018. This translated into a 13.7 percent increase in pending sales (written contracts) or 823 pending sales in September 2019 compared to 724 pending sales in September 2018. Strong showing activity during the summer resulted in 698 closed sales during September 2019.
The September report showed median closed prices remained stable during the third quarter (July, August & September). In July, the median closed price was $326,400. By September, the median closed price had dropped slightly to $325,000, which is only a .7 percent decrease from September 2018, which reported a median closed price of $327,408. Interestingly, the median closed price in January 2019 was $325,000.
With over 500 listings pulled from the MLS in September, it is no surprise that overall inventory for the month fell. However, even though it decreased 17.8 percent to 4,989 homes compared to 6,070 homes in September 2018, inventory for September was higher than August by 72 homes.
The NABOR® September 2019 Market Reports provide comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
|
CATEGORIES
|
SEPT 2018
|
SEPT 2019
|
CHANGE
|
|
Total closed sales (month/month)
|
651 |
698 |
+7.2% |
|
Median closed price (month/month)
|
$327,408 |
$325,000 |
-0.7% |
|
Total active listings (inventory)
|
6,070 |
4,989 |
-17.8% |
|
Average days on market
|
93 |
102 |
+9.7% |
|
Single-family closed sales (month/month)
|
321 |
359 |
+11.8%
|
|
Single-family median closed price (month/month)
|
$395,000 |
$405,000 |
+2.5% |
|
Single-family inventory
|
3,208 |
2,567 |
-20.0% |
|
Condominium closed sales (month/month)
|
330 |
339 |
+2.7% |
|
Condominium median closed price (month/month)
|
$242,250 |
$245,000 |
+1.1% |
|
Condominium inventory
|
2,862 |
2,422 |
-15.4% |
As noted by brokers reviewing the housing data, September had a 6-month supply of inventory.
Geographically, condominiums in South Naples (34112, 34113) saw a 22.1 percent spike in its median closed prices to $213,000 in September 2019 from $174,500 in September 2018. Alternately, condominiums in North Naples saw a 16.4 percent decrease in median closed prices to $242,500 in September 2019 from $290,000 in September 2018.
Laura Layden, laura.layden@naplesnews.com
Phil McCabe, hotelier, developer and entrepreneur, talks about his investments on Fifth Avenue South in downtown Naples and why he’s so confident about the future of the swanky street.
Hotelier and real estate developer Phil McCabe couldn’t be happier about the changes he’s seeing on Fifth Avenue South in downtown Naples.
Of course, he’s a big part of them.
That includes a $5 million renovation he recently started at the Inn on Fifth designed to take his luxury hotel up a notch into what he describes as a “deeper four-star rating.”
Putting on his other hat as a developer, McCabe recently completed a new mixed-use building on the swanky street at the northwest corner of Fifth Street South, bringing in new residents and businesses.
He estimates the development, known as The Residences at 5th and 5th, cost him $15 million to $20 million.
McCabe isn’t the only property owner or entrepreneur spending big bucks in the city’s prized shopping and dining district. Others are reshaping the look and feel of Fifth Avenue, with the goal of making it an even better place to live, work and visit — including real estate investor David Hoffmann and his family, who have amassed a portfolio of properties on the street in recent years.
“We’ve got the second best location in town,” McCabe said. “The beach is the best location.”
As for his new three-story building, McCabe considers it a huge success. The residential condos on the top two floors quickly sold out, with the most expensive one fetching $3.65 million.
Click to read the full article on Naples News.
FOR IMMEDIATE RELEASE
Resale Values Continue to Rise Despite Increased Competition from New Construction
BONITA SPRINGS, Florida | May 3, 2019 – New construction communities in Estero and Bonita Springs are sprouting up like weeds overnight. In previous years, a main focal point when buying real estate in Southwest Florida was being within a mile or two of the beaches. “Location, Location, Location” is what this is most commonly referred to in the industry, as the resale value on a beach-centric home is increasingly larger than one beyond the sights of the shoreline. Although the resale value of a home is top priority to a buyer when making a purchase, it is not the only consideration. Agents in the SWFL market are finding that buyers are looking towards new construction communities more now than before as homes near the beach do not offer the same rich amenities and square footage at the same price point.
According to the Bonita Springs-Estero REALTORS® (B.E.R.) Media Committee, with reporting from the SWFLAMLS, year-to-date sales in new construction, pre-construction and under construction homes have increased 29.2% compared to this time last year. Consumers are reminded, if interested in new construction, always engage a REALTOR® from start to finish in order to assist in price negotiations, selecting the right lot and upgrades for future resale value.
Besides being able to purchase more home for the same dollar amount and living in new construction, buyers are migrating away from the beach because of the evolving community that is now the Village of Estero. Over the last decade, there has been tremendous growth in the Estero area, from the expansion of Florida Gulf Coast University (FGCU) to the migration of Hertz Global Headquarters. This alone, along with the opening of many new businesses, has brought more attention to Estero, therefore pushing for the need to build more homes. According to the Village of Estero website, there has been a 23% increase in households from 2014-2019. In layman’s terms, a large influx of people are deciding to make Estero their permanent residence. In addition to this, the average age of residents is decreasing, making Estero more desirable for families and working professionals.
When deciding where to purchase a new home, Estero is becoming more desirable for many reasons, but one that is critically important to families with young children is the ability to attend Estero schools when residing in the town. Thanks to the Estero Education Initiative, families living in Estero now have priority when choosing a school for their children to attend. Nick Batos, former Mayor of Estero and Councilman, states that “The Village of Estero has entered into a public private partnership agreement with Lee County Schools, serving the Estero students to augment and improve the educational opportunities offered to the students. This initiative will allow for additional educational, recreational and aesthetic experiences for our students while at the same time making Estero even more attractive and desirable for students, residents and business alike.” This creates a huge incentive for those considering the move to Estero as the rest of Lee County does not have priority over their school of choice.
Although the new construction market is an option, the resale market is still on an upturn compared to this time last year. Pending sales showed an increase of 9% from March 2018 as well as a 6.5% increase in new listings coming on the market. “Based on current market conditions, it appears that our REALTOR® members will have a busy summer” remarks B.E.R. CEO, Meighan Harris.
The Bonita Springs-Estero REALTORS® March 2019 Report shows these overall findings for both single-family homes and condominiums combined.
|
Month over Month |
Month over Month |
|
|
March 2018 |
March 2019 |
% Change |
| New Listings |
426 |
458 |
7.50% |
| Pending Listings |
422 |
459 |
8.80% |
| Closed Listings |
347 |
313 |
-9.80% |
| Median Closed Price |
$296,415 |
$299,560 |
1.10% |
| Average Days on Market |
54 |
65 |
20.40% |
|
|
|
|
|
12-Month Ending |
12-Month Ending |
|
|
March 2018 |
March 2019 |
% Change |
| New Listings |
3.543 |
4,926 |
39% |
| Pending Listings |
3,065 |
3,238 |
5.60% |
| Closed Listings |
3,015 |
3,182 |
5.50% |
| Median Closed Price |
$291,000 |
$297,500 |
2.20% |
| Average Days on Market |
62 |
60 |
-3.20% |
|
|
|
|
| *Current Active Listings |
1,857 |
|
|
| *Current Avg. Month’s Supply |
7.6 |
|
|
To ensure your next real estate transaction in the Bonita Springs or Estero market is a success, contact a B.E.R. member by visiting BonitaEsteroRealtors.com.
Attributions given by B.E.R. Media Committee members Ursula Weinkauff, Joseph Pavich Sr., Angela Parker, Chris Maccarone, Becky Jaarda, Michael Fagan and Julie Ross.
*Inventory calculations are based on property listings that exist within the Southwest Florida MLS. Only properties in zip codes 33928, 34134 and 34135 are included. Single-family homes are tabulated with the building design of single family, villa detached or manufactured with land conveyed. Condo units are tabulated with a building design of low-rise, mid-rise, high-rise or villa attached.
The Bonita Springs-Estero REALTORS® Multiple Listing Service (MLS) syndicates to LISTHUB, which distributes to 2,000+ real estate search websites.
Founded in 1966, the Bonita Springs-Estero REALTORS® is a local trade organization of over 950 REALTORS® and more than 150 affiliated industry members. Bonita Springs-Estero REALTORS® is part of the National Association of REALTORS® and Florida REALTORS® and provides its members with a wide range of services designed to educate and empower members and consumers alike through the opportunity to sell or purchase real property. It also provides the public with up-to-the-minute real estate reports, trends and information about the Bonita Springs and Estero real estate market.
###
Released by Bonita Springs-Estero REALTORS®
