🏘️ Wesley Chapel Build-to-Rent Townhomes, New Spring Hill Homes in $300's & New Car Enthusiast's 200-Acre Paradise

These are 3 recent major things coming to the Tampa area you might want to know about 🏎️.

Author

Sean Bates
April 20, 2023

I’m excited to share the latest local news in the Pasco & Tampa Bay area with you.

From upcoming housing developments to a new 200-acre destination for car enthusiasts, there's no shortage.

If you love cars, you’ll like The Motor Enclave. This is going to be a must-visit destination, with its 1.6-mile Performance Circuit and 100 acres of off-roading adventure.

Continue reading for more details.

Have an amazing weekend!

— Sean

🏘️ Coming Soon to Wesley Chapel: GroveParc Townhomes

An Atlanta-based builder, ResiBuilt, specializing in built-to-rent housing, has acquired over 48 acres in Wesley Chapel for the future site of GroveParc Townhomes.

Driving the news: Infrastructure work is complete at the site, and South Florida-based Blue Pointe Builders was the seller, according to JLL Inc.

The purchase price was not disclosed, and a deed for the transaction has not yet been filed.

Why it matters: Built-to-rent communities are in high demand across the nation and in the Tampa Bay region, with GroveParc being one of the most exciting projects in Florida, according to JLL's senior director Max La Cava.

Details: GroveParc Townhomes, located directly north of The Grove at Wesley Chapel shopping center and west of Interstate 75, will feature 190 townhomes with three- or four-bedroom units and garages.

The development is set to open in early 2025.

What they're saying: "GroveParc Townhomes is perfectly positioned to capitalize on the influx of high-paying jobs to Wesley Chapel and offer future residents the best of both worlds — an upscale single-family rental living experience within a 48-acre nature-driven community located adjacent to the action-packed heart of Wesley Chapel," said La Cava in a statement.

What’s next: With infrastructure work complete, the next steps for GroveParc Townhomes include construction and marketing efforts in anticipation of the early 2025 opening.

🚧 Coming Soon to Spring Hill: Valleybrook residential community

Atlanta-based PulteGroup's subsidiary, Pulte Homes, has purchased 19.4 acres in Spring Hill to develop a new master-planned community called Valleybrook.

Driving the news: The community, situated on Powell Road, is set to feature 66 single-family homes on 50-foot lots, with amenities including a playground and a dog park.

Why it matters: Valleybrook aims to appeal to a wide range of homebuyers seeking affordability and value without sacrificing convenience.

This marks PulteGroup's latest project in the fast-growing town of Spring Hill and Hernando County.

Details: Homes in Valleybrook are expected to start in the low $300,000s, with no Community Development District fees. Floor plans will be announced soon.

What they're saying: "Valleybrook will be a fantastic option for homebuyers seeking affordability and exceptional value for their money. The demand for a quality, new construction home in a convenient location has never been greater," said Sean Strickler, West Florida division president, in a release.

Location: Valleybrook is adjacent to Chocachatti Magnet Elementary School and about 15 minutes from downtown Brooksville.

The Ridge Road Extension, currently planned, will improve east-west access to U.S. 41, making it easier to reach Land O' Lakes and Wesley Chapel.

Valleybrook is also less than a mile from the Suncoast Parkway, providing easy access to downtown Tampa and Lakeland.

What's next: With the land acquired, Pulte Homes will move forward with the development and construction of Valleybrook, targeting entry-level to 55+ homebuyers seeking value and convenience.

This follows the company's February acquisition of over 250 acres in Spring Hill for the 809-home community, Caldera at Spring Hill.

🏎️ The Motor Enclave: A New Destination for Car Enthusiasts in Tampa

Source: Unsplash

A new project is underway in Tampa that will cater to the city's car-loving community.

The Motor Enclave, located at 6499 N Falkenburg Rd, will span 200 acres and feature a 1.6-mile Tilke-designed Performance Circuit and 100 acres of off-roading adventure.

The off-road tracks are designed for caged vehicles, including side-by-sides, rally cars, Jeeps, and Broncos, but not ATVs.

The 1.6-mile track was designed by German engineer Hermann Tilke, responsible for nearly two dozen Formula One tracks worldwide.

Motor Enclave reps emphasized safety above all else, stating, "It's an enthusiast circuit. You can come out here and drive safely instead of cruising on I-75 in your McLaren."

Drivers will be evaluated before being allowed on the track, and lessons will be available for those deemed not ready to ride.

Why it matters: The Motor Enclave offers a new destination for car enthusiasts in Tampa, catering to both off-roading and performance driving. With its emphasis on safety and private garages, it provides a unique experience for car collectors and enthusiasts.

Details: The Motor Enclave is currently under construction, with an anticipated opening timeline of summer 2023.

By the numbers: The project will include

  • 200 total acres

  • 100 acres of off-roading adventure

  • 1.6-mile Performance Circuit

  • more than 300 private garages

  • 37,000+ square foot Corporate Event Center.

Bottom line: The Motor Enclave provides a new opportunity for car enthusiasts in Tampa, with its combination of off-roading and performance driving experiences. Its emphasis on safety and private garages adds a unique element to the car enthusiast community in the city.

📊 Our Local Markets:

  • Home prices may have bottomed from the 2021 peak.

  • Buyer demand is at its highest in 10 months (source: Redfin).

  • And it looks like the housing market hasn’t just stabilized.

  • It’s growing. The latest data shows home prices in February 2024 rising 3.7% higher than this year.

And with inflation beginning to come under control, it’s important to remember real estate & the regular economy are 2 different markets.

Housing has only dropped twice in the last 6 recessions and besides 2008, its usually only dropped an average 1-2%.

So the days of double-digit appreciation are definitely over, and buyers are returning to the market, but home prices are not plummeting.

This is why even the best investors say don’t try to time the market. Focus on time in the market.

If you’re curious how much your home could sell for now, then reply “what’s my home value” or you can get an estimated value here.

Or if you’re just curious about how the current market affects your situation & what’s going on in your specific neighborhood, just reply & ask.

🏠 Featured, Available & Open Houses This Weekend:

📰 In Other News:

That’s all for today, I hope you have an amazing week!

If there’s ever anything you need:

  • a custom market or home value report

  • a home services list for a reliable contractor or services professional

  • feedback or a professional opinion on a home project

Just let me know! We’re here to help with all your home needs.

Talk soon,

- Sean, the Bello Home Team 

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