Longboat Key, Florida | May 2nd, 2017 – The Kepecz-Hays Team truly enjoyed the four successive Open House activities we’ve had this last weekend of April on Lido Key and Longboat Key. But what excites us even more is the bright market prospects in Bay Isles where we’ve been fortunate to have some listings as well.
The way we see it, more sellers in Bay Isles may be inspired to engage the market, as this gated development is likely to soon draw a new crop of buyers—those with a bent for the arts and culture scene. This possibility looms large as plans are now well underway to set up a new Longboat Key Center for Arts, Culture and Education at the island’s town center just west of Bay Isles.
This planned facility would replace the Longboat Key Center of the Arts on the north end of the town set to close this May. A developer has been reported as buying the arts center’s 2.3-acre site in Longbeach Village for the construction of single family residences. Notably, the Kepecz-Hays Team also has sales listing near this locality—a pre-construction house at 525 Reclinata Drive.
Town Partners with Ringling
The Town of Longboat Key has partnered with Ringing College for the establishment of the new arts facility near Bay Isles. This facility will occupy nearly five acres including the two-acre lot of Amore Restaurant which the town is purchasing.
The Longboat Key Foundation is spearheading the fundraising for the new art center which the town will own and Ringling College running it under a long-term lease. The architects and contractors who are now being chosen shall provide the estimated project cost. Local officials are hopeful that the center would open in two years.
But before that happens, we can already anticipate interest building up on this new dimension being added to properties near the planned center. Arts, culture, and education should come as another plus point for Bay Isles properties for sale which are traditionally much-sought because of their proximity to the five-star resort facilities of the Longboat Key Club.
Stimulus to Buying and Selling
More opportunities in the town’s property market would also open eventually. For one thing, building single family houses at the art center in Longbeach Village would create more buying as well as selling opportunities in this historic neighborhood. Currently, there are just five sales listings in this historic north Longboat community.
This shortage of available single family residences north of the town is the reason why we’re likewise excited about our listing at Reclinata which we put on the market in March. This property is less than a mile from the Longbeach Village and any development activity around it should help bring market attention to our pre-construction, single family house listing.
Similarly, we can look forward to more buying attention from our most recent listing at Bay Isles—a private, top floor penthouse at the Grand Bay condominium. The media attention being given to the new Longboat arts center near Bay Isles also makes us optimistic on market prospects for its Sabal Cove community where we have two listings for sale and one in the Queens Harbour community.