Construction to Start on Huge Housing Community in Hillsborough County

The Tampa Bay area is now one step closer to accommodating one of the nation’s largest housing communities, as construction is set to start on Waterset, a huge development in southern Hillsborough County.

The Tampa Bay area is now one step closer to accommodating one of the nation’s largest housing communities, as construction is set to start on Waterset, a huge development in southern Hillsborough County.

Developed by San Diego-based Newland Communities—the company that delivered FishHawk Ranch, MiraBay and Covington Park–Waterset will eventually consist of as may as 6,700 homes. According to the Tampa Bay Times, the first phase of the community will be completed by September 2012, delivering the first 214 homes. Ranging in size from 1,400 to 3,200 square feet, they will cost between $160,000 and $300,000 per unit. The team that will oversee the project includes David Weekley Homes, Cardel Homes, Ashton Woods Homes and Homes by WestBay.

Set in Apollo Beach, the community aims to become central not only to its residents but the entire area, featuring prominent lakes and water elements, miles of walking paths and a community center. According to the developer, the last phases will add schools, townhomes and some commercial space to the community.

With a goal of 6,700 homes across 2,350 acres, the current planning consists of eight phases that will add 3,800 units. Based on the success of FishHawk and MiraBay, the developer anticipates that many of the buyers will come from military and corporate relocations, people moving up to bigger houses and retiring Baby Boomers from the Midwest and Northeast.

According to the Tampa Bay Times, Newland conceived the project in 2004 and spent between $70 million and $80 million for infrastructure, including some roads. Yet the project was put on hold in 2007 as the housing market cratered.