A trail of developers shows how uncertain the real estate development business can be. Buying these distressed properties into an expanding market bodes well for Maury Carter & Associates.
For example, Sawmill Creek is an un-built but entitled 1,000-acre master-planned community. It was to include approximately 1,350 homes and a wide variety of amenities, including a championship golf course designed by Jim Furyk. (Planned Clubhouse)
Grand Landings was originally developed by Landmar, who contracted in 2004 to buy approximately 1,500 acres from Florida Landmark Communities Inc. (Palm Coast Holdings) in stages. The master-planned club community south of the Flagler County Airport was to include an 11-court championship tennis center with a stadium court and spectator seating. There was talk of a fly-in community in one of the later phases. The first stage of the purchase was completed, a portion of which was platted for 89 lots for single-family homes. Infrastructure was finished and about 10 homes were built. But then the housing market faltered.