It’s not hard to understand why the New Tampa and Wesley Chapel areas are among the fastest-growing communities in the region.
There are top-rated public schools, a plethora of restaurants and retail on Bruce B. Downs Boulevard and easy access to major roadways.
“And the average median income is one of the highest in Tampa,” added Frank Messina, division president for Standard Pacific Homes’ Tampa office.
Standard Pacific recently purchased 675 acres for a reported $25 million in Wesley Chapel where the company plans to build nearly 1,200 homes. Once a ranch, the “raw” property is south of State Road 54, near Bruce B. Downs Boulevard and Chancey Road, Messina said.
Some industry insiders are saying the Standard Pacific project is one of several signs the housing market is starting to rebound. A recent Tampa Tribune article also noted other plans as evidence, including the 5,000-plus-unit Starkey Ranch project on State Road 54 in Odessa and the 260-home Arbor Woods project on State Road 56 at Interstate 75.
Bill Eshenbaugh, a local land broker, told the paper the price Standard Pacific paid is substantial and speaks volumes about the market.
Standard Pacific is no stranger to the area. They are behind other properties including Seven Oaks and Meadow Pointe. The new parcel will eventually include 1,181 homes ranging in price from about $300,000 to $600,000.
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Messina said construction will commence in June, with sales starting in early 2014.
“We’ve termed it the crown jewel of (the area),” Messina said of the property.
Messina said the development, which does not yet have a name, will target a move-up buyer. Architecture styles include Italianate, Mediterranean and European cottage — not your typical Florida home, Messina said.
Interior plans include various structural options and new plans that include “a ton of glass” to bring “the outside into the home,” Messina added. There will also be a clubhouse and plenty of other amenities.
What do you think? Is the housing market coming back? Tell us your thoughts in the comments section below.