Gran Paradiso at the West Villages

http://granparadisovillage.blogspot.com/2016/01/west-villages-improvement-district_28.html

West Villages Improvement District Neighborhood Meeting, January 26, 2016

I know I promised a part 2 of the WVID Supervisory Board meeting, and I will post that, but I think that the pressing thing on the minds of most reading this will be what was said at the neighborhood meeting. So, I will say for now that the meeting on Tuesday morning was only rather routine updates. I will write up a summary later, but for now I’ll move on to the Tuesday night neighborhood meeting.

I have not yet received a summary or minutes in my email. This is all from my personal notes, so if I missed anything or got confused on any item, I apologize…it moved rather swiftly to cover a lot of ground and questions from those in attendance. And, I don’t know shorthand for quick notes.

Anyways, here’s what I got…

Mr. Marty Black gave the presentation and answered questions, he is with Mattamy Homes / The Ranch Land Partners and current Chairman of the Board of Supervisors for the West Villages Improvement District. He introduced himself and the project, and described his extensive and impressive background and experience. He ascribes to a John Nolen concept of community planning, original designer for the City of Venice, where sense of community and walkability are foundational.

West Villages Improvement District, for a district that was nearly crushed by the economic downturn and facing overwhelming cash shortfalls not that long ago, now has a healthy $2.8-3.5 million cash balance. It is made up of about 1/3 unincorporated Sarasota County and 2/3 North Port. And good news, as some have questioned, they ARE intending to keep the Venice address. That is not planned to change in the future.

There are 3 current applications in for the updating of district planning: a comprehensive plan amendment, an application for rezoning, and the Village District Pattern Plan. There are 3 additional neighborhoods in the works now, as well as the commercial center called Coastamar. One of the neighborhoods will be a an age-restricted 55+ community, and all of them are to have a different style than the existing two in place. The three communities are: The Preserve (100-200 attached villas), The Renaissance (600 unit 55+), and The Oasis (150-180 single-family). Permits are in hand for at least two, some clearing in preparation began Monday, and they are expected to begin sales next season. Low-income housing is not a part of planned development.

A land swap and purchase occurred with Sarasota Memorial Health Care System. SMHCS intends to open urgent care and medical offices in the district, likely in 3 to 5 years time, due to the process of approvals necessary as it is a public entity. This land swap will allow for SMHCS to co-locate and coordinate with the SCF nursing school. The transaction left a section of property owned by the district not included as part of the district boundaries. For consistency and other reasons, the application has been made to make an update to include it. Also, for consistency and such reasons, application for rezoning has been made to bring the entire district under the North Port “Village” designation. This zoning has heightened requirements over the current County zoning and will ensure that there are not different sets of rules, or more lax criteria, for one neighbor versus another.

A school for either k-8 or k-12 is being planned to go forward, as is a 32-acre public park. One of the first installations of the public park facility will be designated as a paw park. This is an item that I know many will be very pleased to learn. The paw park is expected to open in the next 9-12 months.

635

The primary purpose of the meeting was in regard to the Coastamar commercial development project. The meeting is to be one of three meetings for public information and comment at the different stages in the process. The site analysis for the Coastamar project was shared. Public notice was made regarding the meeting in the local newspaper and mailed to residences within 1300 feet of the proposed project. It was asked if the back of commercial business buildings would be seen over the wall or visible from that part of the IslandWalk community, and the answer was ‘no.’

The multi-activity pool that was part of the original concept has been removed from the Coastamar plans going forward, but a grocery store, restaurants, and a hotel remain in the works. Drafts of design proposal, though, are slated for the next meeting in the series about this. The focus of this meeting was set for preliminary information sharing and gave an opportunity for community members to ask questions.

As mentioned, the John Nolen notion of community planning is a basis for much of the concept being utilized. Mattamy sees the West Villages Improvement District projects as being for the benefit of “grandchildren and great-grandchildren,” a long-term development over the course of decades, with electric cart paths and walking trails, etc. Also of note, as far as they style and quality of livability for the area, it was pointed out that inquiries by several fast food suppliers hoping to establish locations in Coastamar have already been declined. Sembler, the commercial development company selected for the joint venture, was chosen for their quality and vision after interviewing 15 potential companies. Construction is anticipated to begin in the year from now to have the first tenants in 20-24 months.

Road planning was also discussed. Traffic lights are anticipated to be at intervals along 41. The community planning and commercial center was proactively designed, so that key components are placed along Tamiami Trail where lights would be anticipated and allowed. Manasota Beach Road is planned to be extended into the community for a more direct route to the shore. However, this is probably 10 years or more from completion. River Road widening has stalled due to inability for the County to get State funding. The right of way has already been given to the County, but funding to complete the work has not been obtained. Mattamy is currently in talks to possibly begin this work and “jumpstart the process” that way. It was suggested to contact State legislators to put the issue more directly on their radar for funding.

Current source of water for is North Port, and it travels around 7 miles before reaching us. Part of the developer’s obligation is to build a water and sewer plant to supply this area. That will be located behind the cell tower off 41 and River Road and is about 5 to 7 years out.

Several of the questions asked were by current residents of the Lake Geraldine community and how this development impacts them and some other nearby neighborhoods. As this blog is intended to West Villages residents, I won’t expand on those except to say that anticipated impact is minimal. Also, it was asked if additional costs and assessment would be levied on WVID community members as a result of all of this new development. The answer was that issuing additional bonds to fund any projects is not currently planned and has not been the topic of any WVID supervisory board discussion.

I hope I covered everything. Let me know if there are ever any specific questions I may answer or get answered for you!

Thanks for reading,

Ali

If you are considering purchasing a home, I can assist you. My services and extensive resources are of no cost to you. I am even able to save home buyers money…including additional cash incentives to new construction buyers which even the builders’ sales reps do not have access. I do not work for any of the wonderful builders/developers in the West Villages Improvement District, or any others for that matter. My services and information (including the resources provided on all of my websites) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction also serves to fund these resources to keep them available for you and others on an ongoing basis.

Please, check out my Venice area website, and contact me for more information!

Look forward to hearing from you!

Ali

Ali H. Johnston, MHA, MBA in Real Estate

Realtor®, Lic. Broker #BK3284964

West Villages Realty LLC

Mobile: 941-539-5771

If you are considering purchasing a home in this community, I can assist you. My services and extensive resources are of no cost to you, and in most instances, I am even able to save home buyers money. I do not work for any of the wonderful builders/developers in the West Villages Improvement District, or any others for that matter. My services and information (including the resources provided on all of my websites) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction can provide you with a wealth of information as well as saving you money.

Please, check out my Venice area website, and contact me for more information!

Look forward to hearing from you!

Ali

Ali H. Johnston, MHA, MBA in Real Estate

Realtor®, Lic. Broker #BK3284964

West Villages Realty LLC

Mobile: 941-539-5771

from www.WVIDfl.blogspot.com

West Villages Improvement District Supervisory Board Meeting, Jan. 26, 2016 – Part I

It was a much livelier meeting of the West Villages Improvement District Supervisory Board than it has been in past. I was really excited to see so many more residents in attendance, with a particularly noticeable surge from those in Gran Paradiso. Kudos! Great to see everyone. As a matter of fact, because of the increase in turnout while having the meeting ‘closer to home’ there is discussion of making that permanent, either meeting at one community center or alternating between the two communities. Except that it was a little harder to hear board members and others on the panel, I have to admit that it was really nice not having to go so far into North Port to City Hall to attend.

There were quite a few points of discussion and many questions from public members in attendance, and I think I may have missed a couple while in conversations with my neighbors; however, I will do my best to share all of the key items that I was able to make notes about. But it is likely going to take me two or three writing sessions to share all of the information. I will share the question and answer session to start, as that is likely the more pressing information on the minds of community members.

First, after a quorum was established, the meeting was opened to public comment for questions and requests of items to be added to the agenda. Those questions were taken, and then Marty Black (Chairman) systematically answered in order what he could. To follow is the summary points that I gleaned from that discussion:

– The first question raised, and also brought up again later in the meeting, was regarding the status of having a traffic light installed on 41 at the entrances of Gran Paradiso and IslandWalk. It was said that the Board has voiced its concerns to the City, State, and the developers regarding this issue, but has no way to compel action on it. The developers are responsible for the installation, but they cannot do so without the approval of the state DOT. The previous warrant study conducted did not meet criteria for approval, and there essentially, is where the holdup lies.

{On a side note, the FDOT website says that they respond to public requests in this area…”The District Traffic Operations Offices respond to written letters from the public, civic organizations, businesses, etc. requesting the need for a traffic signal to be installed or modified” (Website Link). Maybe we should flood them with letters or a petition? Our DOT district contact Information:

District 1 Secretary, Billy Hattaway, 801 N. Broadway Ave. , Bartow, FL 33830-3809, Phone: (863) 519-2300
Public Information Office, Bartow District Headquarters, 801 North Broadway Ave., Bartow, FL 33830-3809, Phone: (239) 225-1900, FAX (239) 338-2353
Southwest Area Office, 10041 Daniels Parkway, Ft. Myers, FL 33913, Phone: (239) 225-1900, FAX (239) 338-2353, or Toll Free in Southwest Florida 1-800-292-3368}

– Next question had to do with mosquitoes and spraying and what is done in the area. The response was that some is done by the County, and some is a responsibility within the individual community, so contact your property manager to find out.

– Another questioner was wondering why there were different size sidewalks in different areas. It was explained that these were designed according to anticipated demand for use in each area.

– Still thinking along the sidewalks was another inquiry as to trimming back invasive plants covering much of the sidewalk. The question was directed to Mike Smith, responsible for oversight of and many onsite district maintenance projects. He said that they have been working to cut back such plants, like the Brazilian peppers.

– Then, a question was raised about the potential for additional assessments to existing residents for increased maintenance and projects with all of the growth (many in attendance also shook their head in agreement with wanting more information along these lines as well). The short answer for this is that it is not out of the question that additional assessments could be imposed, but there are none currently proposed or planned or being discussed by the Board.

– Related to the finance and funding of the district, it was then posed an inquiry as to the status of past due assessments and debt owed to the district. The answer is that there is an option available for the Land Partners to purchase the defaulted property through redemption. However, the amount owed is $23 million, and this is not anywhere near a reasonable acquisition cost for them to exercise that option for the size of the property.

– An additional (second) pedestrian node on West Villages Parkway, which has been a point of contention for at least one regular attendee and resident, was brought up and questioned as to the practicality of the expense. The response was that the second node cost half of what the original one did and added a symmetry to the location that seemed appropriate with the Gran Paradiso owners’ entrance nearing completion.

– From a question regarding where the new SMH facility is to be location. Discussion began with mention of an appraisal for land to be dedicated for a school that is outstanding. Also, the SMH land swap has been completed, and projections for available services are said to be 3-5 years. The extended timeframe being attributed to the fact that SMH is a public entity and must go through particular processes to move forward on the project.

– The last of the public questions was to the effect of whether or not the Ranch uses their existing property for agricultural purposes in order to get tax breaks. The response to this was that there was a discount for a portion of the land related to this, but the ongoing use for cattle and such serves other purposes that are of benefit. First, they bring in revenue to help cover expenses (such as taxes) while the development gets going. It provides active management of the property to ensure the land remains in a healthy state and ensures a measure of public safety through that as well.

I will write about the rest of the meeting in another post, but it was primarily status updates of ongoing projects and information that has been shared before. So, that can wait until another day this week.

Still, there are just a couple more items of note. One was simply that the meeting was held at IslandWalk, because the City of North Port rescheduled their committee meeting, and our District could no longer use their auditorium on the designated day or time. It was discussed changing the meeting day an time going forward in order to make use of the City Hall facilities again, but the encouraging turnout of more residents was said to encourage the consideration of hosting the meetings using facilities of the existing communities in the future.

Appraisals are out for a public school and for the extension of Manasota Beach road into these communities. But, projections for the completion of the beach road are likely 15-20 years. Not close to as soon as many have been told in past. The preeminent project, though, the commercial center joint venture is projected to be open in the fall of 2017. A meeting is to be held at SCF tonight where a presentation of information regarding the proposed commercial center will be made. Don’t miss it!

Let me know if there are ever any specific questions I may answer or get answered for you!

Thanks for reading,

Ali

If you are considering purchasing a home, I can assist you. My services and extensive resources are of no cost to you. I am even able to save home buyers money…including additional cash incentives to new construction buyers which even the builders’ sales reps do not have access. I do not work for any of the wonderful builders/developers in the West Villages Improvement District, or any others for that matter. My services and information (including the resources provided on all of my websites) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction also serves to fund these resources to keep them available for you and others on an ongoing basis.

Please, check out my Venice area website, and contact me for more information!

Look forward to hearing from you!

Ali

Ali H. Johnston, MHA, MBA in Real Estate

Realtor®, Lic. Broker #BK3284964

West Villages Realty LLC

Mobile: 941-539-5771

If you are considering purchasing a home in this community, I can assist you. My services and extensive resources are of no cost to you, and in most instances, I am even able to save home buyers money. I do not work for any of the wonderful builders/developers in the West Villages Improvement District, or any others for that matter. My services and information (including the resources provided on all of my websites) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction can provide you with a wealth of information as well as saving you money.

Please, check out my Venice area website, and contact me for more information!

Look forward to hearing from you!

Ali

Ali H. Johnston, MHA, MBA in Real Estate

Realtor®, Lic. Broker #BK3284964

West Villages Realty LLC

Mobile: 941-539-5771

From http://wvidfl.blogspot.com/2015/12/west-villages-improvement-district.html

Now open for business is West Villages Realty LLC, specializing in new construction opportunities in gated and resort-style communities. We love our customers and want to show our appreciation in a meaningful way. So, in celebration of our grand opening, we are offering special cash rebate opportunities to our customers that go under contract between now (January 5th, 2016) and February 15th, 2016.

Choose to use the services of West Villages Realty LLC in your new home search, find what you are looking for, and go under contract by February 15th – then when you close on the transaction, we will give 20% of the paid commission as a credit toward closing costs.

It is of no cost to you as a buyer. Builders typically add Real estate agent commissions into price of the home and will not discount these amounts to buyers that are not utilizing the services of their own professional. (If the builders did discount you for it, they would likely alienate the many agents that bring them a great deal of business.) So, the builders generally just make a little more profit when you do not have your own licensee or Realtor®.
It is an added purchase discount that you would otherwise not receive.
Amounts vary by both developer, and even by the incentives/specials that they are running. Sometimes the builders will increase the commission rate given to real estate professionals, if there is a particular quota on a product that they need to make their numbers. The co-broke commissions offered by the developers are most often 3% of total sales price, though some pay only on building structural price (not design upgrades), while incentivized commissions sometimes go as high as 5% of total purchase price. The most common example is shown below:

Rebate Schedule Examples*

Commission paid on Amt. ($)

®

$250k

$300k

$350k

$400k

$450k

$500k

3%

Rebate ®

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000

Basically, not only can we provide knowledgeable and insightful assistance, we save you money.

The representatives stationed at the developer’s sales offices are employees of that builder and have a duty to represent their employer’s interests exclusively. Buyers, use the services of someone independent of the seller. Use our services and get a cash rebate from the commission. It is a win-win.

Looking forward to working with you!

Ali

2497

Ali H. Johnston, MHA, MBA-RE

Realtor ®, Broker (FL lic.# BK3284964)

West Villages Realty LLC

Mobile: (941)539-5771

Website: www.WestVillagesRealty.com

Email: WestVillagesRealty@gmail.com

Ali’s blog: WVIDfl.blogstpot.com

*The amounts shown are examples. No one particular dollar figure amount is guaranteed, as it is based exclusively on a percentage of the amount that is paid to the brokerage by the seller.

The following is taken from the recently proposed updated master plan to Unit 1 (common areas planning) in the West Villages Improvement District to assign remaining bond funds. The proposed plan was accepted at the last WVID meeting on November 24th.

WVID Public Infrastructure Improvements Master Plan Components

Unit 1 was formed in order to finance District-wide improvements and also to finance standards development and master planning activities required to develop public infrastructure plans for the Unit (the “Project”). The improvements as well as the standards development and master planning for the Unit will be consistent with the City of North Port Comprehensive Plan and Implementing Ordinances, studies, plans, and may include:

§ Preparation and Development of Regulatory Standards and Procedures
§ Master Planning for Public Infrastructure needs
§ Alignment of future Units and Allocation of Benefit methodologies and procedures
§ Roadways, including thoroughfares, arterial, collector, or local streets
§ Stormwater Improvements
§ Master Irrigation facilities
§ Roadways Landscape, Lighting, Signage, and Furnishings
§ Roadways Gateway features
§ Park and Recreation improvements
§ Fire/ Rescue, Law Enforcement, Solid Waste, and General Government related facilities contributions to the City of North Port
§ School sites
§ Engineering and Contingencies

Estimated Cost of Improvements

Table 1 lists the components of the Plan of Improvements for Unit of Development No. 1, together with their estimated costs of design, implementation and construction. The Table also includes an estimate of administrative, engineering and legal fees, and contingencies associates with the improvements. The Table is divided into two sections, those being projects previously constructed and those planned for future construction.

In other news from the last WVID meeting, the budget for 2015/2016 has now been finalized. Check the link for the detailed budget and comparisons to prior years, if you are so inclined. The resodding along 41 is progressing as planned. And, thanks to a regular WVID meeting attendee (IslandWalk resident and neighbor, Paul Nienaber) it appears that two property appraisals may be obtained in the future for district involved land deals. This is good news as there has been concern from some members of the public in past that the appraisals obtained seemed overinflated. Hopefully, multiple value opinions will either correct any problems that have existed or quell concerns going forward, whichever the case may be.

If you are considering purchasing a home in this community, I can assist you. My services and extensive resources are of no cost to you, and in most instances, I am able to save home buyers some money. I do not work for any of the wonderful builders in the West Villages Improvement District, or any others for that matter. My services and information (including the resources provided on all of my websites) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction also serves to fund these resources to keep them available for you and others on an ongoing basis.

Please, check out my website, and contact me for more information!

Look forward to hearing from you!

Ali

Aileen “Ali” Johnston, MHA, MBA in Real Estate

Realtor®, Hoover Realty LLC

Mobile: 941-539-5771

https://www.bostonglobe.com/lifestyle/2015/11/06/chalk-good-time-venice-fla/JAiqpVh062mBSZHuW9XiLP/story.html

By Diane Bair and Pamela Wright GLOBE CORRESPONDENTS NOVEMBER 06, 2015

What is it about places named Venice, and why are they so cool? There’s the one in Italy, famous for its gondolas and grand palaces, and the one in Southern California, with its funky, anything-goes, “tattoo this” beach vibe. Then there’s the other, other Venice, the one in Florida. Recently named one of Coastal Living magazine’s happiest seaside towns, this is the mysterious Venice, the one you probably don’t know unless you’ve spent some time in Sarasota County, on Florida’s southwest coast.

So what’s cool about this Venice? Does it deserve a moment in the sun and is it, in fact, worthy of its name? We headed south to find out.

“Would you like to borrow a shark’s tooth sifter?” asked the woman at the front desk at the Inn at the Beach, where we were staying. Say what? It seems that Venice is, or claims to be, the Shark Tooth Capital of the World. Venice, an island along the aquamarine Gulf of Mexico, sits atop a fossil layer that’s estimated to be 18 to 35 feet deep, a souvenir dating 10,000 years, to when Florida was underwater. Gulf beaches hold a cache of fossilized sharks’ teeth, pointy triangles of black, gray, and brown that run about one-eighth to three-quarters of an inch long.

Beachgoers collect them using a “Venice snow shovel,” a screened basket with a handle, scooping up sand at the water’s edge where the waves break and sifting it.

Sadly, re-nourishment of the beach (when sand from several miles out is scooped up and deposited on the shoreline to replenish the beach after storms) has made sharks’ teeth less plentiful. Still, those little prizes are out there; we saw folks with bottles full of sharks’ teeth, not to mention, a display of sharks’ teeth jewelry at a shop called Sea Pleasures & Treasures on Venice Avenue. (Pieces not nearly as creepy as the alligator claw necklaces for sale alongside them!) If you’re really into this, and are a diver, find a local dive shop with a captain who specializes in fossils. Some super-lucky shark’s tooth hunters find giant, megalodon teeth, the size of a fist, on those trips. Or come in April, for the annual Shark’s Tooth Festival.

But you might not want to wait: From Nov. 9-16, Venice will be adorned in fabulous chalk art, as the site of the 8th annual Sarasota Chalk Festival (www.chalkfestival.org). Heralded by CNN as one of the best events of its kind in the world, the event draws 300-plus artists who create sprawling works in pastel on a decommissioned runway at the Venice Airport Fairgrounds. Visitors can participate themselves, watch the process, and see the glorious (if temporary) results.

This year’s theme is “Eat, Drink, and Be Merry.” “We anticipate 200,000 visitors over the eight days of festivities,” says founder Denise Kowal, formerly of Cohasset. “We host 90 percent of the world’s most renowned pavement artists in one location at one time — nobody else does this,” she adds.

The art is so amazing that it would knock your socks off if you were wearing any. This is flip-flop territory, where the temperature averages around 73 degrees — perfect for hanging out at one of the frequent festivals, hitting the Venice Farmers Market on Saturday morning, or meandering the inviting stretch of little shops along West Venice and Tampa avenues, the city’s pink-stucco downtown area. Thanks to stringent zoning, downtown Venice is remarkably lacking in chain stores and restaurants, making it an anomaly in the Sunshine State.

But the biggest surprise we found in Venice — bigger even than the shark’s tooth on the sign at Caspersen Beach — was this: We could get around almost entirely by bicycle. In our travels around car-centric Florida, we’d given up on finding a bike-friendly city. In Venice, Mayor John Holic himself gets up at 3:30 a.m. to hit the road with his pals, in the dark on his bike before the workday begins. While we don’t recommend that strategy for visitors (Beach Bikes & Trikes, a local bike rental agency, doesn’t open that early anyway), we discovered that this city of 21,000 souls is easy to explore on two wheels.

Venice is a silver-rated bicycle-friendly community, according to the League of American Bicyclists. And, although there are numerous on-street bike lanes, you can avoid cars altogether by sticking to bike paths like the Venetian Waterway Park and the Legacy Trail, a 10.8-mile path that goes all the way to the southern edge of Sarasota, and eventually will connect Venice with Sarasota’s downtown.

“Biking has really taken off here, especially since the Legacy Trail opened up in 2008,” says Mike Brown of Beach Bikes & Trikes. “We get people who come up here to house hunt, and do it all on a bike,” he adds.

We were skeptical, until we hit the paved Venetian Waterway trail, and pedaled to Sharky’s on the Pier for lunch (a must-do here), to Caspersen Beach (shark tooth central) and along both sides of the Intracoastal Waterway, veering off the trail to the bike lane on Harbor Drive to admire the city’s collection of 1920s-era Spanish Revival-style homes. We also encountered Mayor Holic on his bike; he gave us a mini-tour of Venice’s 30-some parks, and steered us toward other sights to see on our DIY Tour de Venice.

One of those “parks” is actually the Legacy Trail, a multiuse former rail trail that runs from the Historic Venice Train Depot, downtown, to Sarasota. So, of course we had to rent bikes for yet another day!

The morning we set out, it was 94 degrees. Were we crazy? Weren’t all the sane people at the beach, sprawled on the tawny sands of Venice’s 14-mile coastline, or bobbing in the surf? Quickly, though, we realized we were onto something, creating our own breeze as we pedaled through neighborhoods, over bridges, and into cool foliage, stopping only to guzzle water and admire views of electric-blue bays alongside the path.

We had hoped to get as far as Oscar Scherer State Park, but alas, we were flying back to Boston and running out of time. Instead, we ended our ride back at Venice Beach, where we promptly locked up our bikes, doffed our helmets, and plunged into the bathtub-warm-but-still-refreshing Gulf of Mexico.

As Venices go, this one isn’t bad at all.

QUICK TAKES

Venice is located just south of Sarasota. Bradenton-Sarasota International Airport is about 30 miles away.

Where to stay: Located right across from Venice Beach, the Inn at the Beach is the one to book thanks to its easy access to the Gulf. Rooms are quiet (the property abuts a residential area) with modern amenities. There’s also a heated pool and spa tub. Guest rooms and suites are done up in casual-tropical style, and many rooms have full kitchens. Continental breakfast is complimentary. Rates from $149. www.innatthebeach.com

Where to eat: You’ll be glad you biked a lot. Like neighboring Sarasota, Venice offers plenty of good food. Some of our favorites: For lunch, try the Soda Fountain & Vinnie’s Pizzeria(www.sodafountainofvenice.com), a real soda fountain, and Sharky’s on the Pier for good food and a Margaritaville-esque vibe (www.sharkysonthepier.com). For dinner, Sharky’s upscale sibling, Fins(www.finsatsharkys.com), offers dazzling sunset views and some of the best food we’ve ever had in the Sunshine State (steaks, sushi — it’s all awesome here). Another waterfront spot we enjoyed: Marker 4 (www.marker4.com), where they make fish tacos with seared red grouper, and top their steamed mussels with tasty things like cherry-smoked bacon.

Renting bicycles: Beach Bikes & Trikes (www.venicebikesandtrikes.com) will deliver and pick up bikes as part of the rental fee; helmets, baskets, and locks are included.

For more information: www.visitsarasota.org

www.NewHomeVenice.com

Residential real estate purchases listed in the MLS system for the Venice area have gone from less than 5% being made on an all cash basis prior to the economic crisis, compared to over 60% each year from 2010 to this (MFRMLS, 2015). It also appears that the area’s cash sales volume cannot merely be attributed to investors picking up foreclosed properties. Two local builders’ representatives report 50-60% of their communities’ new home sales have been made with all cash in the past couple of years, and that the volume of sales and demand have greatly exceeded corporate expectations during that time as well. The total number of residential home sales recorded in the local MLS system for 2014 was actually 38% higher than the total for the 2005 calendar year in the midst of the housing bubble (MFRMLS, 2015). This also indicates that the proportion of purchases made with lending cannot significantly be attributed merely to increase lending standards that are subsequently eliminating a section from the market or from the clearing of foreclosures as some would claim.

Local Market Analysis

Venice, Florida, Area Characteristics

Description. Lifestyle characteristics. Venice is a quiet suburban location conveniently placed in between a number of more metropolitan areas with major airports. Sarasota is a mere 20 minutes away, about an hour to Fort Myers, Tampa is about an hour and a half drive, while Orlando and its attractions are only about 2.5 hours away. The Tamiami Trail, Route 41, is a major traffic corridor through the city and lays approximately midway between the coast of the Gulf of Mexico and Interstate 75. It has a charming historic downtown are with a park, theater, restaurants and shopping. There are many local golf courses in and near Venice.

Population. Venice, itself, is a small city with a population of just over 21,000 (Bureau of Economic and Business Research, 2014) located in Sarasota County, Florida. This figure is for the city proper and not including the greater range of Venice addresses. Available data is not exactly clear as to the population estimate for the broader targeted Venice ‘area.’ The applicable zip codes that can have Venice mailing addresses are: 34275, 34285, 34292, and 34293. Properties within the last three listed all would have Venice addresses. A very small percentage of residences within the 34275 zip code currently have Venice mailing addresses. Population estimates from the 2013 American Community Survey for the three zip codes combined are 65,623 persons in 2013, 64,395 in 2012, and 64,062 in 2011 (U.S. Census Bureau, 2010). According to the Bureau of Economic Analysis, “in 2012, Sarasota [County] had a total personal income (TPI) of $21,400,975. This TPI ranked 11th in the state and accounted for 2.7 percent of the state total. In 2002, the TPI of Sarasota was $14,447,855 and ranked 10th in the state” (Bureau of Economic and Business Research, 2014, para. 2).

Population characteristics

Age of population. The area is known for having an older population, as it is popular for retirees. Florida, in general, has a reputation for its substantial number of seniors, which for 2013 was estimated to have 18.7% of its population at 65 years of age or older (“Sarasota County Quick Facts,” 2013). The statistic for Sarasota County during the same timeframe was significantly higher at 33.3% of the population (“Sarasota County Quick Facts,” 2013). “Among Florida’s counties, Sarasota County has the third‐highest percentage of residents aged 65 and over, the second‐highest percent‐age of residents aged 75 and over, and the highest percentage of residents aged 85 and over” (Sarasota County Planning Services [SCPS], 2012, July, p. 1). The Venice area of Sarasota County is comprised of sections with a generally higher median age than much of the rest of the county at a figure greater than 64 years of age, as can be seen in Figure 1 from Sarasota County Planning Services (SCPS, 2012).

Economic status. Only about 9% of the population was persons below the poverty level from 2008-2012 (U.S. Census Bureau, n.d.). The majority of people own their own home, at 72%, with a median home value of $180,800 for owner-occupied units, and the median household income is $46,404 (U.S. Census Bureau, n.d.). It might be argued that the household income figure could be somewhat deceptive, however, as it does not include capital gains or some supplemental retirement benefits (U.S. Census Bureau, n.d.). These are likely to be, or have been for the data referenced, sources of income for the many residents of the area. As a result, using the household income figures from the U.S. Census Bureau (n.d.) could potentially create a significantly skewed view of the local economy. Additionally, the Census Bureau’s income figure is pre-expenses, so it is before mortgage expenses, etc. An area where a higher proportion of the population owns their residence outright will also have a higher proportion of discretionary income compared to another area with similar household income figures. The impacts of this excluded income and of expense differences may warrant future research to determine if it is the case, and if so, to what degree.

Residential units. The Sarasota County Property Appraiser’s website was utilized to search and download data spreadsheets on August 1st, 2015, listing all properties within applicable zip codes (Sarasota County Property Appraiser [SCPA], 2015). From the list of all properties gathered for each zip code, non-residential and vacant or units under construction were eliminated from consideration. Subdivisions were included for consideration where mailing addresses of ‘Venice’ or ‘North Venice’ in instances that the physical street address matched the mailing address. Three instances of this criterion were also included that were listed as not in a subdivision. The result is an estimated 1,443 residential units for zip code 34275 that would be considered Venice area domiciles. There are 11,915 residential units listed for the City of Venice with zip code 34285. Zip code 34292 all have Venice physical addresses listed. There are 8,187 completed residential units in place within zip code 34292. Zip code 34293 resulted in 20,240 residential units in place. This totals 41,785 residences contained in the research target area of Venice area.

Growth. According to Census.gov’s State and County Quick Facts for Venice, Florida, the 2013 population estimate is 21,253 individuals; this is a 2.4% increase over the 2010 U.S. Census (U.S. Census Bureau, n.d.). Venice is 15.27 square miles with approximately 1359 persons per square mile, according to the 2010 Census (U.S. Census Bureau, n.d.). At the time of the Census, only 6.1% of the population was under 18 years of age, while 57% of the population was comprised of individuals 65 years of age and older (U.S. Census Bureau, n.d.).

It is considered an area of high-growth due to considerable expansion in new home construction (Bureau of Economic and Business Research, 2014). And, according to the local MLS (My Florida Regional MLS [MFRMLS], 2014; MFRMLS, 2015), the volume of home sales has been on a considerable upward trend in the past 5 years, increasing an average of 15% per year from 2008 through 2013 (Figure 2). Increases in new home construction and increases in sales volumes indicate an increasing demand, while the number of active listings (Figure 3) has been on a downward trend over the past 5 years (MFRMLS, 2014). A housing economist for Trulia says that their data shows this market area is currently one of the top ten fastest moving in the nation (McLaughlin, 2015).

Figure 1. Count of Active Listings by Year and Month (MFRMLS, 2015)

Figure 2. Venice Residential Sales by Month for Past 5 Years (MFRMLS, 2015)

Figure 3. Venice Residential Average Sales Price by Month for Past 5 Years (MFRMLS, 2015)

The proportion of residents over 65 is projected to grow to about 40% by the year 2030 (SCPS, 2012), as the last of the Baby Boomer generation reaches retirement age. The population is anticipated and planned to grow with other age categories as well (SCPS, 2012). The resident population of Sarasota County is estimated at about 390,000 for 2014 with an additional winter seasonal population of 100,000 (SCPS, 2015). Sarasota County Planning Services [SCPS] says that the population is growing at less than 1% currently, or about 5 new residents per day (SCPS, 2015, p. 2). However, that rate is expected to increase dramatically over the next decade, with an anticipated average of 2,000 new housing units added per year to accommodate the growth (SCPS, 2015). Permits for new residential units reached 1,196 in 2014, up over 382% since the low figure in 2009 (SCPS, 2015). SCPS also reports that two-thirds of the growth that was seen for the county during 2011 through 2013 was in South County (SCPS, 2015, p. 2), which is predominantly comprised of the area targeted in the scope of this review.

Final Commentary

Venice, Florida, is a growing resort-style, coastal area popular for retirement living. With Baby Boomers reaching retirement age in greater volume, and many finally seeing their retirement funds recovered from the downturn, the housing market demand is escalating for the area. This is clearly shown by the data. Increases in new home construction and increases in sales volumes indicate an rising demand and sales prices, while the number of active listings has been on a downward trend over the past 5 years (MFRMLS, 2015). The local Neighborhood Development Services Department recently received 42 applications for new home permits in the target area from just one builder in one single day (City of North Port, 2015, p. 4). In the consecutive 8 months through June 2015, that same department issued a total of 528 residential building permits (City of North Port, 2015, p. 4). The local real estate market for Venice, Florida, is certainly taking off, and the future outlook suggests that a home purchase in the area may be a very good option from a personal investment perspective. If you are considering a home here, act sooner rather than later due to rising home values.

Please, check out my website, and contact me for more information!

Look forward to hearing from you!

Ali

References

Bureau of Economic and Business Research. (2014). Florida estimates of population 2014: April 1, 2014. Retrieved from University of Florida, Bureau of Economic and Business Research: http://www.edr.state.fl.us/Content/population-demographics/data/PopulationEstimates2014.pdf

City of North Port. (2015, Summer). North Port grows in rooftops and businesses. North Port Currents.

McLaughlin, R. (2015, August 25). America’s fastest moving markets finally slowing down [Blog post]. Retrieved from http://www.trulia.com/trends/2015/08/fast-moving-markets-aug2015/

My Florida Regional MLS. (2014). Stats: Historical sales volumes [Data file]. Retrieved from http://www.mfrmls.com

My Florida Regional MLS [MFRMLS]. (2015). Stats: Venice home sales by year, with financing filter of cash and not cash [Data file]. Retrieved June 23, 2015, from http://mfr.mlsmatrix.com/

Sarasota County Planning Services. (2012, July). How are we aging? Retrieved from https://www.scgov.net/PlanningServices/Demographic%20Profiles/How%20are%20we%20aging.pdf

Sarasota County Planning Services. (2015). Demographic trends: Developer’s roundtable. Retrieved from https://www.scgov.net/PlanningServices/Demographic%20Presentations/Demographic%20Trends%20-%20Developers’%20Roundtable%20Jan%202015.pdf

Sarasota County Property Appraiser. (2015, August 1). Property search: Advanced search [Data file]. : .

State & county Quick Facts: Sarasota County, Florida. (2013). Retrieved from http://quickfacts.census.gov/qfd/states/12/12115.html

U.S. Census Bureau. (2010). DP05, ACS demographic and housing estimates: 2009-2013 American Community Survey 5-year estimates [Data]. Retrieved from http://factfinder.census.gov/faces/nav/jsf/pages/community_facts.xhtml#none

U.S. Census Bureau. (n.d.). State & county quick facts: Sarasota, FL [Data table]. Retrieved from http://quickfacts.census.gov

If you are considering purchasing a home in this community, I can assist you. My services and extensive resources are of no cost to you, and in most instances, I am able to save home buyers some money. I do not work for any of the wonderful builders in the West Villages Improvement District, or any others for that matter. My services and information (including the resources provided on all of my websites) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction also serves to fund these resources to keep them available for you and others on an ongoing basis.

Aileen “Ali” Johnston, MHA, MBA in Real Estate

Realtor®, Hoover Realty LLC

Mobile: 941-539-5771