Marina Bay - Frequently Asked Questions
WHERE IS MARINA BAY LOCATED?
Marina Bay is located just east of I-75, between Daniels Parkway and Colonial Boulevard on the west side of Treeline Avenue.
HOW MANY SINGLE FAMILY HOMES WILL BE BUILT AT MARINA BAY?
There will be approximately 800 twin villa and single family homes at Marina Bay.
WHAT IS THE TOTAL ACREAGE AT MARINA BAY?
Approximately 272 Acres
WHAT ARE THE STANDARD LOT SIZES AT MARINA BAY?
|The standard lot sizes are:
|Atlantic Homes (Twin Villas)
||38.5’ x 118’
||45’ x 125’
||52’ x 125’
||62’ x 125’
WHAT ARE THE LOT PREMIUMS?
Lot premiums range from $2,000 to $50,000. There are standard lots available.
WHAT ARE THE HOME PRICES?
The home prices will range from the mid $200’s to the mid $400’s.
WHAT ARE THE DELIVERY DATES FOR THE HOMES IN THE LOT RELEASE?
Approximately 3rd quarter.
WHAT IS THE DEPOSIT REQUIRED?
A $5,000 reservation deposit is required to hold a lot. A deposit of 10% of the purchase price (less the $5,000 reservation deposit) will be required to be paid upon execution of the Purchase Contract within 3 days of reservation.
The checks should be made payable to Lee County Homes Associates III, LLLP and must be in the name of the buyer and drawn on a US financial institution. No third-party checks and no credit cards will be accepted.
ARE THERE ANY INCENTIVES?
We are offering $3,000 to $5,000 toward closing costs if you use GL Financial when obtaining your loan and Nova Title Company as your closing/title agent.
HOW AND WHEN CAN I GET PRE-APPROVED WITH GL FINANCIAL?
You may call GL Financial at (866) 814-7100.
CAN I FINANCE USING AN FHA/VA LOAN?
WHAT TYPE OF RECREATION FACILITIES DOES THE DEVELOPMENT HAVE AND WHEN ARE THEY GOING TO BE READY? WILL ALL HOMEOWNERS BE ALLOWED TO USE THE REC FACILITIES?
The recreational facilities will include a clubhouse with a fully equipped fitness center, social room, resort style pool with beach entry, lap pool, Indoor Sports Complex, 3 Har Tru tennis court, 4 Pickleball courts, water play and tot lot.
IS THE DEVELOPMENT GATED?
A gatehouse will be constructed at the main entrance off Treeline Avenue. This gatehouse covers one lane of the incoming traffic. The gatehouse will have three traffic lanes restricting vehicular access. The guest, resident and exit lanes will feature automatic arms operating via a garage door opener or other access mechanism, and the guest gate operating eventually by a gatehouse attendant or telephonic control for guest access.
WILL YOU ALLOW INVESTORS?
No. There will be deed restrictions limiting your ability to sell the home for 1 year following closing which will include payment to the seller of any financial gain from any such sale. Also, no buyer will be permitted to buy more than one home in Marina Bay. See Purchase Contract for more information.
CAN WE RENT THE HOME AFTER WE CLOSE?
The HOA Documents restrict rentals to no more than four (4) times in any twelve (12) month period. Of the 4 times that the home can be rented in any 12 month period, 3 of such rental periods shall be for a minimum of thirty (30) days, and the fourth shall be for a minimum of six (6) months.
WHAT ARE THE PROPERTY TAXES?
Property taxes are approximately 1.9% of the total purchase price.
Marina Bay is part of the Arborwood Community Development District. Basically this means that a bond was issued to the Arborwood District which paid for the development of the infrastructure and other public facilities used by the residents in this area. The bond is paid back over time and it’s included as part of your yearly taxes. The annual CDD fee for Marina Bay residents is just under $500-$800 per year based on the size of the home. This will be shown on your property tax bill.
ARE PETS ALLOWED?
Common domesticated pets are allowed but not for breeding or commercial purposes. No other animals, livestock, horses, reptiles or poultry are allowed. Pitbulls, Rotweilers, Doberman Pinschers, Canary Dogs, Staffordshire Terriers, Staffordshire Bull Terriers or any “dangerous dogs” are not permitted on any portion of the property. A dangerous dog is one that has aggressively attacked or chased a person or other animal. See the HOA Documents for additional rules regarding pets.
WHAT SCHOOLS WILL MY CHILDREN BE ATTENDING?
Lee County is part of the school choice program, please visit- Lee County Public Schools Student Assignment Page for more information.
WILL THERE BE GAS IN THE COMMUNITY?
No, all appliances will be electric.
ARE POOLS BEING OFFERED?
Single Family Homes will accommodate pools. The Villa Homes will not accommodate pools.
WHEN IS THE SALES OFFICE OPEN?
The sales office is open 7 days a week from 9:30am to 5:30pm. You can call the sales office at 239-561-1600.You may also visit our website at www.glhomes.com for more information.
WHAT ARE THE HOA FEES?
Single family homes are $224.87 per month and villas are $336.18. This includes landscape maintenance.