Longboat Key, Florida | April 11th, 2017 – The Longboat Key real estate market remains vibrant as always, with sellers remaining active even as the peak spring selling season is nearing its homestretch. This is evident in the well-priced Longboat Key listings that we at the Judy Kepecz-Hays team have been recently seeing, most especially in the high-end, luxury properties listed in recent weeks at Coldwell Banker Residential Real Estate.
Here we see sellers who have grown more confident that the market will readily recognize the true worth of Longboat Key homes for sale and their potential for further appreciation in future years. Such confidence has been bolstered by successful efforts in March 2017 to preserve the character of Longboat Key as a charming island community.
More Resort Residences Rejected
The local community itself provided this fresh boost to current property values on Longboat Key and source of inspiration to prospective home sellers. In an overwhelming 87 percent vote, island residents rejected in a March referendum the proposal for an additional 180 residential units at the shuttered Colony Beach and Tennis Resort which is being revived by Orlando-based Unicorp National Development.
The project to rehabilitate this property into a luxury resort, nonetheless, will still proceed. However, it will have much lesser density with not more than the 237 tourism-specific residences that the Colony has been allowed.
Also, rejected in the same referendum was a rezoning proposal for a property of the Mote Scientific Foundation north of the Joan M. Durante Community Park. A rezoning would have allowed Brista Homes to build 10 single family homes in this site at 5630 Gulf of Mexico Drive.
Taller New Buildings Nixed
In another development, the prospect of taller new buildings rising along Gulf of Mexico Drive has also been preempted. The town commission of Longboat Key in March rejected the Planning and Zoning Board’s recommendation to allow building construction of up to 80 feet along this highway provided the structure is no closer than 200 feet from the roadway.
Concerned residents praised the town commissioners’ decision, noting that the community doesn’t want the Gulf of Mexico Drive to turn into “a canyon of tall buildings.” The 80-foot recommendation of the planning board came as part of an ordinance being drafted to encourage redevelopment of old Longboat properties.
With the rejection of this recommendation, building height restriction in the ordinance reverts to the old 65-foot benchmark. This essentially would help retain the wondrous sceneries which could be enjoyed along Gulf of Mexico Drive and elsewhere on the island.
New Market Listings
Providing such wonderful views is precisely the main selling point in a penthouse condo residence at Grand Bay that Judy Kepecz-Hays listed in MLS. Priced at $709,000, this new sales listing in Longboat Key’s Bay Isles community features two bedrooms and two baths within a floor plan of 1,413 square feet.
In late March, the Judy Kepecz-Hays team put on the market a new sales-listing for a pre-construction single family home on Reclinata Drive near picturesque Whitney Beach near the northern end of Longboat Key. It is planned as a one-story residence with a floor area of 3,070 square feet designed with four bedrooms, a den and three baths plus a 3 car garage, a spec build reflective of robust confidence on the prospects of the Longboat Key real estate market.