What's New in Punta Gorda?

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Lise Johnson
       

Five Star
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APRIL
2012
 
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Hello! 

If you are  searching for listings on my website, I have made some changes that may make it easier to do a property search- you can now search by "neighborhoods". If you need help or don't want to look for yourself-please contact me!  In other news, there are  alot of new developments that are happening in the area, so be sure to read all the "local news" below.

If I can assist you with your real estate needs or you want to get an idea of what is on the market-I would be happy to set up an automated property search for you! Please don't hesitate to give me a call!
 
Lise
 
 

February-March Statistics

Punta Gorda-Pt. Charlotte 
 
Below are numbers  of homes/condos sold each month, and prices are average. 

                     Total Units    Homes        Home Avg $       Condos      Condo  Avg $
                                
 
      February       280           232               $162,400             48                $121,666
 
      March             378          302                $139,018             76               $ 103,030
 
There was a large increase in the number of homes  and condos that sold in March!  The average price paid slipped a little from the February numbers however. Two homes sold over  $500,000  in March,  while in the $400-$500,000 range, 10 homes sold in contrast to 2 homes in this price range in February.

The "Loop" Property Purchased

 

TerraCap Partners has purchased 171 acres on the corner of Jones Loop and

US 41S for $11.75 million. The land was formerly purchased by the Wilder Companies to be developed as a mixed use project known as the "Loop". That project never materialized due to the economic downturn.

 

The new owners are currently in talks with the City of Punta Gorda discussing the possibility of annexing the land, as well as the best uses for the property . An outdoor mall project similar to the Gulf Coast Town Center in Ft. Myers, is under consideration and the central location is a real asset. The price of the land was down to $68,713 per acre or $1.58 a sq. ft. TerraCap also recently purchased 78 acres in south Punta Gorda for $798,000. 


Local News

 

* Allegiant Air

  

Allegiant Air is planning on making Punta Gorda their base of operations. With Direct Air out of the picture, they will be adding new routes to Ft. Wayne and South Bend, Indiana,  as well as Niagara Falls, New York.  These will begin at the end of June. In addition, they will be providing twice weekly service year 'round. Allegiant currently offers flights to Lexington,  Greenville and Knoxville.

 

 

*Mote Marine

  

The Punta Gorda City Council has approved funds for start-up costs, business planning and architectural planning associated with supporting Mote Marine's possible opening in Punta Gorda. These are tasks that must be done prior to Mote's board of trustees approval to commit to the project. They are asking for $35,000 to accomplish these tasks. 

 

If Mote does come to Punta Gorda it is estimated that it could bring in approximately $34 million to the area. It would also be an additional draw for developing the remaining land in downtown Punta Gorda.

 

   

*Cheney Brothers

  

In October, Cheney Brothers will be constructiong the road access to a parcel of land they have acquired near the Punta Gorda airport.  This is the first step to building the $250,000 sq. ft distribution center. Construction of the food center will probably begin in about a year and take about two years to complete.

 

*Harborwalk

 

The City of Punta Gorda recently reached an  agreement with the Punta Gorda Hotel -on the corner of Hwy 41 South and Retta Esplanade- to link the area behind the hotel with a "ring around the city" walkway that is being constructed along the waterfront.

 

In order to do this, a second seawall with a wide cap will be constructed adjacent to the existing seawall-thus extending the walkway several feet over the water. This portion will be 8.5 feet wide compared to the 10 foot width of the rest of the walkway.

Housing Trends Show Improvements

 

 

According to the National Association of Homebuilders/First American Improving Markets Index , Florida has nine cities that are showing housing improvement in the top 20 -out of 101 listed nationwide. The Punta Gorda area was rated #17 on the list. Housing prices, permits and employment are all taken into consideration. These statistics reflect improvement from their economic  low points for at least 6 months in a row. Although the improvement is slow, it is a move in a positive direction.

Boca Grande Beach  Check out my Website!

                   or 
   www.floridawaterfront.net 

Florida Do Not Call List 

 

The Florida Legislature just changed the law this month to make the state's Do-Not-Call Registry  free to consumers. Previously there was a $10 fee for a new subscription and a $5 annual renewal fee.  The program is costing the state $500,000 ,however the state hopes to recoup their money through fines. To sign up for the registry, click here.