The former Pinewood Lakes subdivision has a new owner and new developers, who plan on building one- and two-bedroom homes on the 20-acre property.
Premier Properties of Cape Coral purchased the gated subdivision Tuesday from Reliance Bank, and plans on partnering with Aranda Homes to create “Celebration Cape.”
The land has already been divided into 58 lots, and boasts completed roads and underground utilities.
Premier President Roger Schutt said ground-breaking and construction of two model homes will begin in early January.
“The infrastructure work is in place, so that allowed us to fast track the project and purchase it at an attractive price, which we’ll be able to pass onto buyers,” Shutt said.
Floor plans range from 1,250-2,000 square feet, with prices starting at $129,000.
Although the Cape is still stocked with existing home inventory, Schutt said the community’s amenities, which include deed restrictions for oversized garages to accommodate motor homes and boats, will attract home buyers to the new development.
Plus, he said the old school, small-town, cottage-style homes will create a truly unique neighborhood.
“Residents will be able to walk down the sidewalk and talk to their neighbors who are sitting out on their front porches,” Schutt said.
Schutt did not have an exact date for the ground-breaking but did say that Celebration Cape is in the permitting phase with the city.
He said for those who put deposits down after the ground-breaking, they should be able to move into their new homes by early summer.
“We can build a home in 90 days or three months,” Schutt said. “Buyers that go under contract, we can deliver a home to them to meet the June deadline.”
Celebration Cape at Pinewood Lakes is conveniently located off Santa Barbara Boulevard between Veterans Parkway and Pine Island Road.
The one- and two-story homes will feature front porches, balconies, detached rear-entry garages with energy saving green building options available.