Kolter Land Partners LLC received final plat approval from the Punta Gorda Planning Commission on July 28 for Seagrass Phase 2, paving the way for 117 new single-family homes off Jones Loop Road.
Pending acceptance by City Council, D.R. Horton can move forward in building single-family homes that will be similar to those in Seagrass Phase 1, which sits adjacent to the new section. When complete, the two phases will total 224 homes within the Seagrass subdivision.
Located near Taylor Road’s Walmart and Jones Loop Road’s Aldi, Wawa and other retailers, the development offers proximity to Interstate 75 and commercial amenities. The project spans 87.1 acres, with Phase 2 covering five parcels totaling 20.14 acres. Access will be provided via Glasgow Avenue and Indian Springs Cemetery Road.
Paul Martin, vice president of land development for Kolter Land Partners, and his engineer Todd Rebol, of Banks Engineering, appeared before the Planning Commission in May 2024 and revealed plans for the Seagrass subdivision. Phase 1 included 107 lots measuring 50 by 100 feet, and Martin previously said Phase 2 construction could begin before the end of 2024.
The city previously approved the names of streets within Seagrass, including Seagrass Boulevard, Turtle Grass Circle, Sand Dune Lane, Sea Grape Loop and Sea Oats Court. Then-City Planning Director Lisa Hannon said last year that the roads are being privately built and will be privately maintained.
The approval comes amid a cooling housing market in Charlotte County. ATTOM, a national real estate data firm, reported in its second quarter Home Sales Report that the Punta Gorda Metropolitan Statistical Area had one of the nation’s sharpest declines in home sale prices and profit margins.
Home sale prices in the Punta Gorda MSA dropped 8.6% year over year, tying for the fourth-largest decrease nationally. Greater losses were recorded in North Port-Sarasota (down 12.1%), Cape Coral (down 11%) and Crestview (down 8.6%).
Local real estate professionals say Charlotte County is now a buyer’s market. Inventory levels have risen, and some developers are offering discounts and incentives on new homes in an effort to stay competitive.
