The year 2013 is already displaying the benefit of a resurging economy with a proposed development of new homes in Tampa. Homes on the 2,280 acre K-Bar ranch are targeted for undeveloped property, as displayed by the sale of two large pieces of land. Residents familiar with the beautiful homes in areas like Wesley Chapel, Tampa Bay and New Tampa will recognize the names of quality developers and builders involved in the sale.
The law firm of Johnson, Auvil & Pratico, P.A., oversaw the sale by K-Bar ranch owners Krusen-Douglas, LLC. The two parcels sold for over $7 million. M/I Homes, based in Columbus, OH, bought a hundred sites on which to build single-family homes. Lennar Homes, based in Miami, bought 121 of the single-family home sites.
M/I Homes already has an investment at K-Bar, with a previous purchase in the Bassett Creek community. Conveniently located near I-75 and New Tampa and Wesley Chapel businesses and schools, large lots feature impressive homes from 4 to 6 bedrooms. The land development by M/I in that area has current plans for building 600 units.
According to Johnson, other builders submitted proposals for the property. The interest by so many builders delayed the closing process for approximately five months. In the end, Lennar and M/I had the qualifying offers and were awarded the opportunity to build the 221 homes on the sites they purchased.
Construction to Start Soon on Subdivisions at Wiregrass Ranch
One of the major home builders in the greater Tampa area is Standard Pacific Homes (SPH), based out of Orange County, CA. With the purchase of 657 acres of land within the Wiregrass Ranch Development, SPH has the opportunity to present the first subdivision at Wiregrass Ranch Development of Regional Impact (DRI). Their Tampa Bay division manager, Frank Messina, indicates that construction can start as early as June if there are no permit delays.
One situation that has been postponing development inside Wiregrass is the resolution of funding for road expansion. In a January 10 meeting between representatives for the Porters, who own Wiregrass Ranch, and the Pasco county Development Review Committee (DRC), negotiations continued about the widening of Meadow Pointe Blvd. and SR 54. The Board of County Commissioners also scheduled a public hearing in late January regarding the proposed SPH development.
Four neighborhoods will be formed by the 1,180 single-family homes. Amenities are expected to include pools, tennis courts and a community clubhouse. Ranging from 1800 to 5000 square feet, the Mediterranean style homes will deliver an upscale look designed to attract move-up buyers in fast-growing Wesley Chapel and other areas. The development is located at the intersection of Bruce B. Downs (BBD) Blvd. and Chancey Rd. The location north of the new Florida Hospital Wesley Chapel is just one of the conveniences appreciated by families.
SPH is familiar with various hearings, meetings and standards of approval by different government agencies. They have been building homes in successful Wesley Chapel subdivisions like Watergrass, Meadow Pointe and Seven Oaks for more than 10 years. Standard â€˜Florida-styleâ€™ residences attract many buyers. Current homeowners that are looking for something new will be attracted by the proposed development, featuring Tuscan and Euro cottage designs.
Previous developments have included a town center featuring small businesses, stores and cafes for the convenience of residents. The location of Wiregrass Ranch nearly the BBD corridor eliminates the need to bring in those types of amenities. Entertainment and shopping are plentiful in that area, leaving more land for homes and community activities.
Brock Realty Inc.
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Long & Associates Realty