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Lennar Communities plans to build a golf course community of 1,800 homes off Burnt Store Road in Southwestern Florida's Charlotte County. The community, commonly dubbed Tern Bay, will feature a mix of single-family golf course homesites as well as golf course condominiums on 1,700 acres south of Punta Gorda and north of the Lee County line.
The centerpiece of this private golf course community is the twenty-seven hole Chip Powell-designed golf course, which is complete with a luxury clubhouse and a world class restaurant. Additionally, a fitness center and tennis courts will be open to all golf course homesites are also planned.
US Home and Lennar will build homes in the community. Prices haven't been set, but Lennar says it expects them to be "competitive for the are, making each and everyone of these golf course home sites extremely attractive.
In addition to constructing the golf course community, Tern Bay Development also committed in January to widen nearly two miles of Burnt Store Road in return for impact-fee credits from the county worth about $5.6 million. The two-lane road will be widened to four lanes benefiting not only the new residents of Tern Bay but existing Charlotte county citizens as well.
Lennar has built more than 25,000 homes in Charlotte, DeSoto, Manatee and Sarasota counties making them one of south Florida's most active real estate development firms. Neighboring communities offering golf course homesites include Legends Patio Langshire, Legends Exec Nottinghan and Kensington in Fort Myers and Westminister in Lehigh Acres.
Earnings in the golf course community are promising, showing an increase since 2004. In September of 2005, $2.06 per share as opposed to the $1.36 per share recorded in 2004. With numbers this promising, Lennar Communities Turn Bay will offer sophisticated housing and increase the economic clout of the area.
