Developers report strong first-quarter sales

COURTESY PHOTO The Club at TwinEagles features a 47,000-square-foot clubhouse with formal and verandah dining, men and women's locker rooms and a golf pro shop. The Club at TwinEagles features two private championship courses, The Talon, co-designed by Jack Nicklaus and Jack Nicklaus II and The Aerie designed by Gary Player. Bonita Bay Group continues to make a strong case for a sustained rebound in the Southwest Florida real estate market, announcing today that sales for the first quarter of 2008 were 75 percent higher than the same time period in 2007.

Kitty Green, president and CEO of the Bonita Springs-based developer of masterplanned communities, said sales hit 152 compared to 87 last year, including singlefamily homes and homesites, coach homes and villas in Verandah in Fort Myers, Mediterra in North Naples, Sandoval in Cape Coral and TwinEagles in Naples. The yearto date sales volume is also up nearly 75 percent, reaching more than $92 million.

"We're looking at a number of factors that have impacted sales this year," said Green, "including favorable interest rates and seasonal sales incentives that have confirmed for buyers that now is the time to buy. Purchasers are recognizing that not only is the overall market rebounding, but also that master-planned communities offer a variety of amenities and lifestyle choices that add long-term value to the purchase."

COURTESY PHOTO Verandah's River House, designed in concert with the architect's Southern traditional vernacular, sits along the Orange River and the conservation easement put in place all along the community's river frontage. Southwest Florida remains one of the fastest-growing regions in the country for a reason, said Gary Dumas, Bonita Bay Group's regional general manager: "Regardless of what the economy is doing nationally, the lifestyle in Southwest Florida is among the best available," he said. "Our full-time and seasonal residents come to the area to enjoy the outdoors, whether it's golf, boating, tennis, the beach and other natural amenities. In our master-planned communities, it's all at their fingertips, along with home choices from some of the area's best homebuilders. Buyers who have been sitting on the fence still want to enjoy this area, and they're making the decision to purchase now."

Another incentive to buy now, Dumas said, is just that: incentives. "We're expecting April to be another solid month in sales because our incentives don't expire until the end of the month," he said, adding that Bonita Bay Group is underwriting such incentives as club memberships and master homeowner association fees for homebuyers.

The company also reported a 26 percent surge in total traffic - or visitors - at its sales centers in the first quarter. New visitors increased by 30 percent over the same period last year, Dumas said. "We're encouraged by what we're seeing," he said. "In addition to an outstanding increase in sales, interest continues to be strong among prospective purchasers, as well."

Bonita Bay Group is a diversified company involved in the planning, development, sales and management of master-planned communities, free-standing recreational amenities and commercial facilities. The company is respected for its commitment to meticulous planning, environmental stewardship, integrity and attention to detail. Bonita Bay Group employs more than 1,300 individuals and is currently developing five master-planned communities - Bonita Bay, Mediterra, TwinEagles, Verandah and Sandoval - along with 14 golf courses and two marinas. Additional information about the company is available at www.BonitaBayGroup.com.