The Isles on Palmer Ranch could be getting more room to grow.
The community’s developer, DiVosta Homes, is in the process of buying 38 acres of vacant land to the east of The Isles.
According to Rich McCormick, vice president of land for DiVosta, if the sale goes through, the company does not expect to add more homes than already planned for the Isles.
The triangular piece of property wedged between the Isles and Interstate 75 had previously been approved for 211 multi-family homes or apartments.
But McCormick said the Isles would not stray from its plan to build about 700 homes, even if DiVosta buys the extra 38 acres.
Lot sizes would most likely remain consistent with the others in the Isles, he said, so the company would need to determine how the extra land would be used.
The Isles on Palmer Ranch is 80% complete. The community’s popularity has propelled DiVosta to look into expansion.
“We’re doing this due to the success of The Isles over the past five years,” McCormick said.
The permitting process for the potential purchase is expected to take 12 to 18 months, so sales wouldn’t begin until sometime in 2012.
Currently 1 Response
- What could POSSIBLY go wrong? With the banks apparently throttling foreclosures the market glut seems to have been reduced by that factor, now all they have to worry about is potential buyers noticing how bad Sarasota traffic is.
Piece of cake!
12 LWRBA March Membership Luncheon
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12 March Membership Luncheon
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