West Manatee Development Inspired By Two Orlando Communities

West Manatee’s new residential development draws heavy inspiration from at least two different residential developments of the Orlando real estate community – the Avalon Park and the Baldwin Park residential communities. The Crossroads development has been projected to stretch over 1,322 acres in its first phase of development, on the property of Manatee Fruit Farm in West Manatee.

 

Developer Whiting Preston Leaves No Stone Unturned

The development of the Crossroads residential community is being undertaken by Whiting Preston. To ensure that the West Bradenton community gets enough press even before residential leasing begins it is being pitched as a “hybrid” of Baldwin Park and Avalon Park.


Further, Whiting Preston is known to have hired the designers of Avalon Park for the first phase of development. The Crossroads development will thus sport a design code drafted by Cannin Associates, the urban planning consultants responsible for Avalon Park.

Manatee’s Crossroads development vs Orlando’s Baldwin Park and Avalon Park

Now, a “hybrid” community essentially means one that incorporates the best features of both Baldwin and Avalon, and Whiting Preston is leaving no stone unturned to achieve the same. At the outset, the three communities share a few similarities. They stretch over 1,000 acres and contain between 3,600 and 6,500 residential units.


The hybridization however begins on the streets. The streets of Crossroads will sport the hub-and-spoke distribution paradigm that Avalon Park is celebrated for with the traditional grid distribution that is characteristic of Baldwin Park.


Traffic has been a big problem for the residents of Avalon Park. Primarily because the six villages comprising the community are joined using a network of arterial roads in the hub-and-spoke model that has proven to be less than ideal during the rush hours. Whiting Preston may have to modify the hub-and-spoke model if it wants to prevent traffic problems at Crossroads.

Pricing at Avalon and Baldwin

According to the top Orlando realtors who have dealt with Baldwin Park, the community sells its cheapest condos for around $250,000. The traditional nuclear-family homes easily fetch over $1 million and leased-out apartments, though prevalent, start only in the higher-end range of $1,300.

In Orlando, Avalon Park typically turns out to be more affordable, when compared to Baldwin Park. Orlando real estate agents reveal that condos at Avalon Park sell for well under $200,000. Further, rental apartments are cheaper and attract many students from the neighboring colleges.

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New Development at UCF

The campus includes a 10-story, $112.3 Million Plaza on University Project

The UCF (University of Central Florida) community is transforming and it is transforming fast. With a host of shops, apartments, and restaurants in the pipeline, the campus community is preparing to charm its residents even more.

What is Underway at the UCF Campus?

In the first stage of development, the university campus will see a new resort-style apartment complex, a Wawa, and a 4 Rivers Smokehouse. It will also witness the rise of a 10-story “Plaza on University”, which is being referred to as the university’s most ambitious project by Orlando real estate industry insiders.

The development of new restaurants and eateries comes as no surprise. The University Boulevard has been adding a new restaurant to its list, almost monthly. In the 24 months since 2012, the campus has become home to more than a dozen new eateries and a couple of shops.

The Plaza building will comprise residential apartments and retail spaces. Projected to cost around $112.3 million, the project when completed would cater to the housing needs of 2,200 university students, with a shopping center and a six-screen multiplex. The Plaza will also house a hot tub big enough to support 15 people, a couple of lap-style pools and resort-style pools as well as video-gaming parlors and lounges.

The Plaza that is expected to be built in the fall will also host Floyd’s Barbershop, Bar Louie, and BurgerFi. Orlando Realtors say that the new development projects have been aimed at turning the university campus into a small city so that students and faculty have access to all amenities.

The Enormous Growth is Both Good and Bad

The eight-year period from 2006 to 2013 was marked by economic turbulence that led to a crisis in the real estate market. However, top real estate agents note that the UCF area grew despite the crisis situation. 40 new residential buildings and around one million square feet of space for commercial leasing were added to the UCF campus – most of which happened in 2006 itself.

In the following years, growth slowed down, but revived in 2013 to reach a five-year high as Surf Skate, Lazy Moon Pizza, Burger21, and other stores were introduced to the campus. While Orlando realtors agree that the new developments have enabled nearly 50,000 people to find jobs in and around the campus.

The sprawling growth also has a downside to it. Locals note that the development is uncontrolled and has begun spilling into other areas of the city life and leading to congestion and traffic problems.

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Kailey’s Ridge Underway! Hunters Creek Residents React

 At first, there were a lot of rumors and speculation among Hunters Creek residents about a new subdivision that may or may not be built. However, over the past year or so the question is more about “when” it will happen and not “if” it will happen.

 The long-anticipated subdivision of Kailey’s Ridge in Hunters Creek is now an undeniable reality. Bulldozers are hard at work clearing out tens of thousands of trees along with the wildlife that once called those trees home. There are mixed feelings among residents of Hunters Creek and most aren’t particularly happy about the development of the new subdivision. Residents of the neighboring subdivision “Westshire” are especially displeased about having to trade in their view of what was once a conservation area for what will soon be an extension of Town Center Blvd.

The neighborhood of 127+ homes that are scheduled to be completed over the course of the next couple of years is already in high demand for people who have been wanting to live in the much sought after “Hunters Creek“.  Hunter’s Creek has been voted the 21st best place to live in the entire US for 2013 so it’s no wonder houses that get put up for sale don’t usually last too long on the market.

From my understanding, prices on these new homes That will be built by Surrey Homes and Ryan Homes will start in the high 300s into the high 400s.

 Increased traffic is also a concern for existing residents. Being a Hunters Creek resident myself, I’ve always liked the fact that Town center Blvd dead ends in Hunters Creek. It provides an extra sense of security just knowing that there’s only one way in and one way out of the neighborhood. This will no longer be the case. Just the other day I went on a bike ride with my 2 boys into that area and the road that goes around the construction area runs parallel to 417 South all the way to international Dr…I think… we got tired of riding and turned around once we saw the exit to Disney World.

THE POINTE AT HUNTERS CREEK

Being an Orlando realtor as well as a resident of Hunters Creek, I also have mixed feelings about the new development. On one hand, it’s good for business because we’ll have more opportunities for buying and selling houses in Hunters Creek, but at the same time, the increased traffic, schools being more crowded, loss of wildlife conservation, etc. is just not exactly ideal for the neighborhood I call home.

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New Orlando Listing! Condo For Sale in Metrowest | 2632 Robert Trent Jones Dr. #124

Priced to Sell! This unit is one of the Biggest in the building!


*1 Bedroom
*1 Bathroom
* 854 Sq Ft.
* Community Pool
* Fitness Center

Located in the highly sought-after Madison subdivision in Metrowest. This property is
very well maintained and move-in ready.

The Community Pool and Fitness Center is just across the street, making it very convenient to work out and go for a swim!

Call me to make your appointment TODAY! 407-902-7750

Orlando Listing,  Metrowest Condo | 2632 Robert Trent Jones Dr. #124 Video

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What’s In This Year’s Home Buying Season for Home Buyers in Orlando

The Orlando real estate industry has been reveling the home-buying season in 2014. April 2014 marked a month of consecutive reductions in the rates of fixed mortgages. Rates of interest on the standard 30-year home loans dropped to their lowest level in the second week of April. The rates, the lowest since February, reduced again in the third week – increasing buyer activity in the industry.

Now, according to a new industry report, this year’s spring buying season commenced with a significant rise in the month-to-month sales of residential real estate property. According to industry experts, the month of March saw 17.28 percent more sales than February. Further, in terms of just the “normal” sales in February and March, the latter month outperformed the former by nearly 24 percent!

Realtors in Orlando will confirm the opinions of the experts – all major listing agents in Orlando reporting their hands full with residential buying and selling since the beginning of the season.

Home Buyers are fueling median residential real-estate prices in Orlando

The median price of properties in Orlando was recorded as $160,000 in March 2014. Just a month ago, the rates stood 1.27 percent lower, at $158,000. The rise in median prices is being fueled by increased demand from prospective buyers – a trend characteristic of the spring buying season.

Realtors unanimously hold the spring buying season a good time to buy residential properties, especially for first-time buyers. According to the experts in Orlando short sales, the median rates of short sales in March 2014, witnessed a 4.59 percent hike from the value same time last year.

With the short-sale inventory expanding, the spring season is also expected to bring new opportunities for buyers who haven’t been able to find suitable deals yet. Compared to the number of foreclosed homes available for purchase in March 2014, a fairly large number of foreclosed homes were made available to buyers in March this year (125 percent more than in March 2013). Homes also spend lesser time on the market now, than they did a year ago. The average listing period in March 2014 was 76 days, compared to the 79 days in 2013.

Making the most of the home-buying season

Conditions in the Orlando real estate market seem to be ideal for residential buyers now. Banks are easing up on home loans, the rates of fixed and variable-rates mortgages are decreasing and the market has plenty of options in different price ranges. Further, with Florida’s diversifying economy and its growing reputation as a premium retirement destination in all of the US, many prospective buyers are showing foresight by investing in properties during the season.

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