Botanica evades slump

Fort Myers News Press
By Don Manley

10 Homes Sold During November

Botanica Lakes is bucking the trend of sagging sales for newly constructed homes in Southwest Florida.

The 10 sales during November at the south Fort Myers development brought the total for 2009 to 65, a number that should rise to about 70 by year's end, said Patty Campbell, Southwest Florida division president for Sunrise-based G.L. Homes.

Even stronger sales were hoped for at the beginning of the year, Campbell said. But given market conditions, "that's a respectable performance," she added.

An even stronger characterization was offered up by Brad Hunter, who directs Metrostudy's market research operations in Southwest Florida.

"GL Homes has a reputation and a track record that is to be envied," he said. "They have always been one of the best builders in terms of execution and quality for the dollar, and they're excellent marketers. So it doesn't surprise me that they're doing better than most in today's environment. That being said, that is 5.8 sales per month which is very, very strong. So that really is extraordinary.

"Construction began in 2008 at Botanica Lakes, a gated, single-family community located off Treeline Avenue, about two miles north of Daniels Parkway. Thus far, 356 of the three-to six-bedroom homes are occupied and another 20 are either under construction or under contract.

The development is divided into 685 lots.Prices range from $149,900 for a three-bedroom, two-bathroom, 1,301-square-foot single-family home, to $319,900 for a five-bedroom, four-bathroom, two-story home that includes a loft and 3,592 square feet of living area.

The community features more than 100 acres of open space and nature preserves and 32 acres of lakes. There's also a courtyard-style community clubhouse, and a seven-acre recreation area that contains a social hall, fitness center, children's activity center, aerobics studio, resort-style pool, tennis and basketball courts, and more.

Campbell cites several reasons for the solid sales performance:

- A prime location off Treeline, not far from I-75, Daniels and other major roads, dining, shopping, schools and Southwest Florida International Airport.

- All the amenities have been constructed.

- The community's design and appearance.

- Reducing prices over the last year.

Botanica Lakes' amenities, location near major roadways and attractions, and the value for the dollar of its homes helped convince Richard and Kristy Kiernan to build here. "It was so different from everything we had looked at before," said Kristy Kiernan, 40. "We just immediately felt comfortable."

The Kiernans were looking for a larger home than the one they've occupied in Naples for the past 18 years when they first learned of Botanica Lakes. They also wanted an active community with a solid amenities package.They ended up buying a four-bedroom, two-bathroom home with 1,905 square feet of living area, up from 1,372 square feet at their Naples home.The Kiernans expect to occupy their new home in April or May.

Richard Kiernan, 42, said Botanica Lakes' pricing enabled he and his wife to add upgrades, such as granite countertops and crown molding, they couldn't have afforded if they'd bought a home in Naples.The $199,900 price for their home includes paying an extra $15,000 for a lot with a lake view and roughly $40,000 in upgrades.

For Katrina Allison, broker and owner of Absolute Equity Realty Group in Fort Myers, Botanica Lakes is not just fertile sales territory, but also her home for the past 2 1/2 years.

Of the 27 homes she sold this year, 10 of them were in Botanica and another five sales are pending, and she represented buyers on three other sales there, Allison said.

"That community - I can take people around and show them five different communities and that community, for what you get for the dollar for square footage and the price for new construction - that community is really appealing to people," she said.

Campbell is optimistic the tourist-snowbird season will further boost sales, especially given the extension of the federal First Time Homebuyer Tax Credit.