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WOODSIDE
PLANTATION - YEAR END REAL ESTATE REPORT - JANUARY, 2007
2006 under review: The Reserve and Woodside Plantation
recorded robust sales results. For the year, over 140 home sites
were sold with over 100 new homes under construction during the
period. Only a few small areas remain to be developed in the
older section of The Reserve.
During the year we opened 3 new neighborhoods - Grand Haven, The
Oaks and Bellwood. Road construction is now being completed in
an additional 3 neighborhoods - The Pointe, Stonebridge and
Cunning Lake. It is anticipated that road construction in these
areas will be completed in February or March, depending on their
location.
The company also completed building 25 homes in a low
maintenance area located in Cottonwood Creek and has started to
build some spacious town homes in the Bellwood area.
At the beginning of the year we added an additional 1000 acres
of land to The Reserve area. This addition represents the last
remaining phase of the plantation to be developed. By acquiring
this property we are now able to build a new golf course, which
will become part of The Reserve Club. The new property also has
150 to 200 acres of wetlands that will be converted into natural
preserves and will be available for hiking, walking trails and
riding paths.
2007 and future years: Future plans will also include the
creation of equestrian facilities in Woodside and the
development of a village outside of a new security gate near the
existing clubhouse.
The conceptional plan for The Village has been approved by the
city. The village will feature a variety of retail
establishments, several parks, professional offices, an inn, and
a combination of residential development which will include
apartments, townhouses and patio homes. The development of this
area represents a 3-5 year project.
The construction of the new Fuzzy Zoeller golf course is under
way. Ten of the golf holes have already been cleared. We plan to
plant the grass in late spring. Play on the first nine holes
should commence in the latter part of 2007.
Road construction on The Village should start in 30 to 60 days.
The first buildings to be constructed will be a health and
wellness center and a design center. The health and wellness
center will have a fitness facility. Members
of The Reserve Club will be members of the new facility. We will
be moving our existing design center into the new building in
The Village.
The roads entering into the new area of The Reserve are now
being graded. We anticipate that the home sites located on the
2nd, 3rd, 16th and 17th holes of the new course will be placed
on the market in early spring.
A new upscale, low maintenance community called The Highlands
will be built in the area facing the lst hole of the Nicklaus
golf course, within walking distance to the clubhouse. All of
the homes built in The Highlands will be part of a home owner's
association which will be responsible for all the landscaping
and outside maintenance. These carriage homes (attached houses)
will range in size from 3000 to 4000 sq. ft. and will offer many
upgraded features. Most of the homes will have outstanding views
of the golf course. It is anticipated that these homes will be
priced in the mid-$500,000 range.
Specific Real Estate Opportunities...
Grand Haven
(located in The Reserve): We still have a very nice
selection of patio lots for sale, priced in the low $40,000
range. We have designed four different house plans ranging in
size from 20050 to 2350 sq. ft. All these homes are of brick
construction. The total cost of the homes and lots will range
from $300,000 to $350,000. Construction can start immediately.
We presently have three of the models under construction. This
is an excellent time to view these properties.
Showcase Homes: Our construction companies are now
building "spec" homes.
Currently there are 18 homes in some stage of construction.
These homes range in size from 2100 to 3900 sq. ft., and the
prices vary from $350,000 to $700,000. Most of the homes are
located in The Reserve.
Cottages at Cottonwood Creek: We have completed 25 homes
in Cottonwood Creek. These homes are part of a home owner's
association and the association is responsible for taking care
of the outside landscaping. They all have 3 bedrooms, 2 1/2
baths, are all brick, with 2 car garages. The heated space
ranges from 2340 - 2630 sq. ft. Four homes remain for sale and
are available for immediate occupancy. There is no question that
The Cottages represent one of the best values today. They are
priced from $309,500 to $340,000.
Townhouses in Bellwood: Construction has started on our
18 townhouses in the
Bellwood area. These homes are situated on a hillside facing a
thickly wooded area. They
are very spacious - 2800 to 3400 sq. ft., have many upgrades and
are centrally located in
Woodside. These homes offer many options and may be upgraded. If
you are looking for a low maintenance environment, these homes
offer a great value at the $330,000 to $350,000 price range.
Cunning Lake and Stonebridge: These two new neighborhoods
are near completion . Home construction should begin in early
spring. Stonebridge is located near Spalding Lake and is
centrally located near the clubhouse. We still have some nice
wooded lots available, priced from $55,000 to $70,000. In
addition, we have golf course lots on the Cupp golf course
available from $90,000 to $140,000. Cunning Lake is the first
property to be offered overlooking the new Fuzzy Zoeller golf
course. There are a few spectacular golf and lake front
properties remaining for sale priced from $135,000 to $205,000.
All the home sites in these two areas are 1/3 to 1/2 an acre in
size.
Future neighborhood developments: This spring we will be
opening an additional three neighborhoods. One of them will
consist of 22 patio lots that will accommodate our Courtyard
Home collection . Fourteen of these lots will have excellent
views of the 2nd golf hole. All the lots will be on very flat
terrain. The anticipated prices will range from $75,000 to
$90,000. In addition, we will be offering regular size and
estate size golf course lots that should be priced in the
$95,000 to $180,000 range.
I encourage you to visit Woodside now if you are in the market
for a home or lot. As you can see by reading this letter that we
have a broad range of products currently available. 2007 is
going to be an exciting year at Woodside, and I hope you will be
involved in the process.
- Wally Busch
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