By LAURA LAYDEN | Monday, January 14, 2013
NAPLES — Lee and Collier counties saw a flurry of building permit activity last year, driven by a growing demand for new single-family homes.
“It’s the best year we’ve seen in a long time, in a very long time for our company throughout Florida. We have seen a rebound in all of our communities, whether that was in Tampa, Palm Beach, Collier or Lee counties,” said Patty Campbell, president of G.L. Homes’ Southwest Florida division.
In Southwest Florida, the builder’s communities include Botanica Lakes in Fort Myers and Marbella Lakes, which is nearly sold out off Livingston Road in Collier County. At Riverstone, G.L.’s newest community off Immokalee Road in North Naples, 200 homes have sold in the past year.
“We are not the only bright spot,” Campbell said, pointing to other national builders such as Lennar, Pulte and Naples-based Stock Development that all saw a jump in activity in their communities across Southwest Florida in 2012.
Seeing her competitors do well gives her more confidence in the recovery of the local real estate market from the Great Recession, she said.
More affordable prices, lower interest rates, shrinking home inventories and improved consumer confidence are among the factors boosting new home construction in Southwest Florida, area builders say.
“It’s very encouraging to see that people are coming out and looking at homes and buying homes, despite the fact that the economy is still looking shaky,” said Brad Hunt, a chief economist for Metrostudy, a housing market research firm. “Part of what is going on is that people had delayed a home purchase for a year or more, waiting for the economy to turn around or more importantly waiting for home prices to turn around and now that home prices are starting to go back up again, buyers are feeling much more confident about buying a home.”
While home-building has picked up in both counties, Collier has come back stronger in the single-family home market.
In unincorporated Collier, which doesn’t include the cities of Naples and Marco Island, contractors pulled 1,243 single-family permits in 2012, up more than 35 percent from 913 in 2011. Permits for multifamily homes, which includes condos and townhouses, rose only slightly over the year with 51 pulled in 2012, up from 41 in 2011.
In Collier, some of the more active communities include Treviso Bay off U.S. 41 East, Fiddler’s Creek along Collier Boulevard near Marco Island, and TwinEagles off Immokalee Road in North Naples. Interest from home buyers has also picked up in the town of Ave Maria, 17 miles east of Naples, county permit records show.
In Naples, the city tracks permit activity by applications, not issued permits. There were 141 applications filed for single-family permits last year. That compares to 80 in 2011 and 66 in 2010.
“Single-family was up last year, but the other permits (multifamily and commercial) were down slightly, not that they were that much before,” said Sue Monroe, the city’s land management coordinator.
In Lee County, contractors pulled 556 single-family permits in 2012 worth $126.6 million in the unincorporated area, which excludes cities. That was up nearly 50 percent from 2011 and up 68 percent from 2009, when home building hit a historic low, according to a report by the county’s Department of Community Development.
As a comparison, the county issued 373 single-family permits in 2011, valued at $86 million.
Last year, permitting for multifamily homes also picked up in Lee. Contractors pulled 189 of those permits in 2012, up 35 percent from 2011 and up 141 percent from 2009.
Lennar is building homes in 15 communities in Lee and Collier counties, including Hawthorne in Bonita Springs, Emerson Park at Ave Maria, and a revamped Treviso Bay, which it acquired in 2011 after the development fell into foreclosure.
“We had a definite increase in sales in 2012. We also had a lot of new communities that we brought on. So that is obviously going to increase your sales pace as well,” said Matt Devereaux, vice president for sales and marketing for Lennar in Southwest Florida.
The company continues to look for more opportunities to grow its footprint in Southwest Florida.
“We want to make sure we position our company right and that we make sure we have the right offering for people in the market looking for a home,” Devereaux said.
Jennie Gasperson owns Nolen’s Permitting Service in Naples, a company that pulls commercial and residential permits for its customers, which include contractors and homeowners. She said her business last year was definitely stronger than in 2011, though “not as good as it was back in the glory days” of the building boom that abruptly ended in 2006. She’s also noticed more owners pulling permits for renovations and additions.
“There is just more money now,” she said.
The competition among builders continues to grow, as more new ones enter the market and others come back as it recovers.
Neal Communities is one of the new homebuilders in Lee and Collier counties. The company has built more than 8,000 homes in Sarasota and Manatee counties. It started acquiring land here in 2012 and now is building in several communities including Verandah in Fort Myers and Villa Palmeras in Estero, where sales will begin in February. The builder will launch another new community off Collier Boulevard this summer.
“We are very bullish about the market down here. We entered the market in a significant uptrend,” said Michael Greenberg, vice president of Neal Communities.
The building trend is expected to continue. Much of the demand is coming from second-home buyers, but builders say they’ve also seen more young families wanting to move up and new year-round residents wanting to buy.
“People are finally moving on with life,” said Hunter with Metrostudy. “They were delaying home purchases because they were afraid of falling home prices and afraid of losing their jobs. Now those things are turning around.”
© 2013 Scripps Newspaper Group — Online
By LAURA LAYDEN
Wednesday, January 9, 2013
Minto Communities has closed on one of the biggest land deals in Southwest Florida since the housing market went bust.
The family owned Canadian company has purchased the old Sabal Bay property in East Naples for $68 million, county records show. The deal — finalized Dec. 27 — paves the way for Minto to become one of the largest homebuilders in Collier County over the next decade.
The former owners, Collier Enterprises, revived the 2,300-acre residential project last year. It’s no longer called Sabal Bay. The development — now named The Isles of Collier Preserve — will have more than 1,600 homes.
“We are very excited to be part of such an historic piece of property and we’re looking forward to bringing it to market in 2014,” said William Bullock, a vice president for Minto in Florida.
About 1,300 acres of the project will be preserves, lakes and natural habitat. There will be miles of natural trails for hiking, biking, walking and kayaking.
The sale of Sabal Bay is just one of a flurry of big land deals, many of which have yet to close. The deals continue to flow as the housing market recovers.
In July, Minto announced plans to buy the undeveloped Sabal Bay property. The sale doesn’t include the nearby Hamilton Harbor yacht club and marina, or land on U.S. 41 zoned for commercial development.
Minto has built about 20,000 homes in Florida since 1978, but mostly on the southeast coast. Its communities there include Olympia in Wellington near West Palm Beach and Artesia in Sunrise near Fort Lauderdale.
The builder’s latest project won’t be its first in Southwest Florida. It’s already a builder in TwinEagles, a luxury gated golf community off Immokalee Road in North Naples. Its models opened there in late November and there have been sales, though the company won’t disclose how many.
Minto recently expanded into Bonita Springs, with a new 220-home community it calls Bonita Isles off Old 41 Road, near Bernwood Parkway. Models are under construction and should be open by next month. A few contracts for homes have already been signed, Bullock said.
“We are definitely very focused on Southwest Florida with these three communities,” he said.
Clearing will begin soon at The Isles of Collier Preserve. A sales center is slated to open this fall, with the first models ready to tour in early 2014.
“So we have a full year of site development,” Bullock said. “It’s a big project.”
Minto expects to build out the project over the next decade. It will be built south of Thomasson Drive and stretch from U.S. 41 on the east to Dollar Bay on the west, backing up to the revived Treviso Bay project.
With Collier County showing an approximately 30% increase in building permits, many new construction projects are coming:
a) New 1,800 acre community being developed by Taylor Morrison. Located on the Northwest intersection of Collier Blvd. and Immokalee Roads, the development will have approximately 1,100 homes with an 18
hole championship bundled golf course.
b) Riverstone by G.L. Homes opened off Immokalee Road (North Naples) in January 2012 and has sold over 150 homes.
c) Hacienda Lakes is a new 1,700 home development located at the intersection of Rattlesnake Hammock Road and Collier Blvd.
d) Canadian builder Minto has announced the 2,300 acre – 1,600 home Sabal Bay in Naples and Bonita Isles in Bonita Springs.
e) Toll Brothers has opened Bonita Lakes on Imperial Pkwy. in Bonita Springs
f) There is a resurgence of construction within Fiddler’s Creek, Twin Eagles, and Treviso Bay.
g) ***Stock Construction has just completed the purchase of all remaining lots (100plus) in Quail West and plans to complete the community. I just finished a private tour and viewed the new models and neighborhoods.
Price range is approximately $850,000 to multi millions. Two story clubhouse is dramatic. Contact me for more details pertaining to the golf course, fees, etc.
There is no additional cost to you for having a Realtor represent your interests. In fact, the buyer will usually save a substantial amount of money.
A builder usually includes a sales commission reserve in the marketing budget. This is because the majority of buyers are introduced to the builder by Realtors. If a buyer does not use the independent services of a Realtor, the builder will usually credit their salesperson with a higher commission or retain the savings.
- The builder salesperson is paid by the builder and represents the builder.
- A Realtor represents the buyer independently as the buyer advocate.
- Usually the builder salesperson will say that certain pricing is firm.
- A Realtor with experience can help the buyer negotiate better terms by using current market data.
- A Realtor can provide the buyer with objective and independent sources of information pertaining to contract review, construction, inspections, insurance, financing, title closing, etc.
FIDDLER’S CREEK
Stock Construction has announced they will be building single family homes in the three neighborhoods of Isla del Sol, Mahogany Bend, and Majorca. Isla del Sol will have 34 homes in a French Riviera theme with prices starting at $one million +. Mahogany Bend will have 53 homes with prices starting at $714,990. Majorca will have 19 homes and prices starting at $599,990. Fiddler’s Creek is located in Naples minutes from Marco Island and offers amenities comprised of a 54,000 sq. ft. Club & Spa, resort pools, tennis, golf, marina, restaurants, and beach access. ***Contact David at (239) 285-1086 for floor plans, a private tour, and community/membership fees.
THE COLONY GOLF & BAY CLUB
WCI Communities has began construction of Terzetto at the Colony. Terzetto consists of three condominiums per building, with 2,100 – 2,624 sq. ft. of living area. Prices start at the high $400,000s. The Colony Golf & Bay Club is located in Bonita Springs with amenities that include a 34-acre island beach park, The Bay Club restaurant overlooking Estero Bay, a Sports Club, and championship golf. ***Contact David at (239) 285-1086 for floor plans, a private tour, and community/membership fees.
QUAIL WEST
Stock Development has purchased the remaining 100 + lots in Quail West and is offering five neighborhoods. Escala is a villa community, built by Stock Construction, with prices from the lower $600s. La Caille is comprised of villas by McGarvey Custom Homes with prices from the lower $800s. Tamworth is being built by Stock Construction, Castle Harbour, and Florida Lifestyle Homes of Fort Myers. Prices begin at the high $600s. Newlands is also being built by Stock Construction, Castle Harbour, and Florida Lifestyle Homes of Fort Myers with prices starting at the high $600s. Custom Estate Homes with pricing from $1.8 million – $7 million+ are available from Robert D’ Angelo Jr. Custom Homes, Stock Construction, Diamond Homes, London Bay, McGarvey Custom Homes, Imperial Homes, and Fox Custom Homes. Quail West of Naples is comprised of 2 Arthur Hills designed championship golf courses, 70,000 sq. ft. clubhouse with spa and fitness center, and beach club. ***Contact David at (239) 285-1086 for floor plans, a private tour, and community/membership fees.
BONITA LAKES
Toll Brothers has just opened Bonita Lakes. Floor plans from 2,058 – 4,354 sq. ft. are available. Single-family homes include impact glass, natural gas, stainless steel appliances, and screened lanai. Pricing begins in the low $300,000s – $500,000s. Amenities offered are tennis courts, pools, and community clubhouse with a fitness center. Bonita Lakes is located in the Bonita Springs/Estero market area. ***Contact David at (239) 285-1086 for floor plans, a private tour, and community fees.
NAPLES — Lee and Collier counties saw a flurry of building permit activity last year, driven by a growing demand for new single-family homes.
