Architecture Things » New Construction in World Golf Village Signals Improving Real Estate Outlook

New Construction in World Golf Village Signals Improving Real Estate Outlook

St Augustine new homes under construction at World Golf Village

Pointing to a variety of new construction projects, developers of The Neighborhoods of World Golf Village are predicting a better 2010 for northern St. Johns County real estate. On queue for first quarter 2010 in World Golf Village is new custom homes in The Crest, a new spec home by Providence Homes in GroveWood, four new multi-unit buildings in Laterra Links and new construction in Cascades, an active adult retirement community. Says Sherry Davidson, President of Davidson Realty, Inc., “We started seeing a recovery to the real estate market in mid 2009 and the trend continues. In January 2009, there was not a single new construction project on the horizon, but we’re starting January 2010 with several different projects.”

Under construction in The Crest are two new custom homes. The Crest is one of the exclusive neighborhoods of The Estates where home prices start in the $600,000s. Homesites in The Estates are generously sized, dotted with ancient oaks and loblolly pines, and ideally situated nearby the King & Bear Clubhouse and the Swim & Tennis Center.

Scheduled to be completed in February 2010, a new spec home is being built by Providence Homes in GroveWood at The Neighborhoods of World Golf Village. The 2,559-square-foot home will have four bedrooms and three baths, and is priced in the mid-$300,000’s. GroveWood is a family-oriented community where young children learn to ride their bikes along oak canopied sidewalks.

Breaking ground in Laterra Links this month are new multi-unit buildings, each with four upscale coach homes of about 2,100 to 2,700 square feet. According to Legacy Builders President John Unkefer, “We expect the first building at Laterra Links may be completed as early as July 2010, with all four buildings, a total of 12 units, to be completed before the end of 2010.”

Under the new ownership of Dockstreet Communities, Cascades, the active adult retirement community, will grow in 2010. Dockstreet is breaking ground on six new models by the end of January with an anticipated opening date of June 2010. The new models are in easy walking distance of Cascade’s well-appointed clubhouse and amenities. According to Dockstreet Communities Representative Nita Roberts, “The momentum for Cascades is super. We sold six new homes in the last few months and we’re thrilled about breaking ground on an additional six models this quarter.”

In addition to the new construction projects, other signs are lighting the way to a real estate market recovery. “There’s an upward trend in transactions which is helping prices stabilize. We believe the increase in transactions is a result of the great values available to homeowners, combined with good interest rates and, in some cases, the Federal homeowners incentives,” explained Davidson.

For more information about The Neighborhoods of World Golf Village, visit www.worldgolfrealestate.com

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