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Lakewood Ranch 2010

Wednesday, December 29, 2010

2010 A GREAT YEAR FOR LAKEWOOD RANCH

As 2010 draws to a close, Lakewood Ranch is celebrating a top sales year with close to 250 new home sales. "It's clear buyers feel confident in the market and the value here,” said Milt Flinn, President of LWR Communities. “We are estimating 350 new home sales next year, with 50 furnished models completed by the end of the first quarter and several new neighborhoods coming on board in 2011. We will have more models and builders in one location than any other developer in the state." Eleven new home sales in 2010 came in over $1 million, with the average sales price of a new home in Lakewood Ranch at $452,600. Many of the new home sales, however, are attributed to the homes starting in the $100,000s in Neal Communities’ newest Lakewood Ranch neighborhood, Central Park.

Several new communities are slated to come on board in 2011, including an age-targeted community and several new sections in Country Club East.

In commercial real estate, Lakewood Ranch leads the market in its low vacancy rate of just 11 percent, compared to 13 percent in downtown Sarasota and 22 percent in the rest of the local market. Several new businesses came to the Ranch in 2010, including Sanborn Studios, the Cancer Support Community Florida Suncoast (formerly known as the Wellness Center), State College of Florida’s second phase, C & H Baseball, Cardinal Construction, Faith Life Church and Chase Bank. “In addition to successfully adding several new businesses in 2010, we are poised for success in 2011,” said Brian Kennelly, president of LWR Commercial Realty. “Lakewood Centre will witness a growth explosion next year, with a new apartment complex, the LECOM expansion and other great additions in the works.”

Main Street at Lakewood Ranch welcomed several new businesses in 2010, including restaurants and specialty shops. Events at the popular gathering place raised $242,766 for local charities throughout the year. “We are so proud of what we are able to do for local charitable organizations with our events at Main Street,” said Julia DeCastro, Main Street property manager. “We will, of course, continue our successful and highly attended Music on Main series every first Friday of the month in 2011, along with a great lineup of events all year long.”

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Lakewood Ranch is the 8,500-acre award winning Master-Planned Community in Sarasota and Manatee counties on the West Coast of Florida. Visit www.lakewoodranch.com

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