Ave Maria - The Town & University
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Ave Maria will boast two firsts; it is the first town and university to be designed & built together and it is the first project to implement the Rural Lands Stewardship Program.
Currently under construction, it is located 25 miles east of Naples & 5 miles south of Immokalee. The brainchild of Domino's Pizza founder Tom Monaghan & the Barron Collier Company, they are investing over $100 million in the first phase.
The $220 million Ave Maria University will be the heart of the community and town center. The first new Catholic university in the United States in the last 40 years, it is expected to employ over 10,000 people and attract 6000 graduate & undergrad students. Plans are also in the works for a private K-12 school to be affiliated with the university.
The town of Ave Maria will bring 11,000 new homes for an estimated 30,000 residents to southwest Florida and will protect 17,000 acres of natural habitat. Utilities, public health and public safety infrastructure are expected to be completed in the summer of 2007, with retail and commercial services to follow.
Pulte Homes is the principal residential developer for the project and will offer a wide range of community options to meet the needs of the expected customer base including families, active adults over 55 and luxury real estate purchasers.
The Barron Collier Company is also including 1000 moderate-income units which must be owner-occupied, 700 low-income units which must be 50% owner-occupied, and 200 very low-income units. They are also donating 28 acres to Collier County Habitat for Humanity which will provide 150 additional homes. Deed restrictions will be in place that will allow a 5% per year appreciation rate for buyers who sell within 5 years. Remaining profit would go toward a fund for affordable housing at Ave Maria.
About the Author
Deborah Lamb is a realtor with Sun Realty LLC in Naples Florida. She can be contacted via her web site at www.deblamb.com or toll-free at . This article may be used as long as credits and links are left intact.
Source: Real Estate Articles on ArticlesTree.com
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