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In Pierce County Washington a developer has two homebuilders that are buying up to 336 residential lots. This deal for all of these lots is worth more than $50 million! The well-known Centex Homes in buying a whopping 142 lots and Shea Homes is buying another 85 lots to build on with options for another 109 sites.
The developer is currently developing a 5,000-acre site that is just 12 miles southeast of Tacoma. This private golf community will truly be the first of its kind.
336 Lots: When Will They Sell?
There is no doubt that 336 home sites is a lot, but those lots are just the first phase of Cascadia, the 5,000 acre site that is being developed. When this first phase is completed there will be 1,719 residential lots in total! The homes in Cascadia will range from just 1,500 square feet to more than 4,000 square feet.
Prices for Cascadia homes will range from the mid $200,000s to more than $600,000. The closings and title transfers to the builders will take place in early 2007, with residents moving in during the fall and winter of 2007 and early 2008! This is just the first phase of this gated community, which will be impressive in and of itself.
The Future of Cascadia
The developer of Cascadia is planning on 6,500 home sites in the future as well as a business and industrial park, a hotel, three golf courses, retail malls, seven schools, and more than 1,200 acres of parks! When completed, Cascadia will easily be the biggest planned community in the state.
The completed Cascadia will be a picturesque neighborhood if it turns out anything like it is planned. The process will be quite slow, but many will find this type of planned community ideal for their families, as it will simply be a great place to live.
