Market dynamics, local zoning and the topographical features of the land combine to suggest a low density model using individual septic systems, producing a density of about 45 to 50 ranch estate homesites averaging about seven acres each. These lots will have incredible privacy and topography, sufficiently sized so that residents may keep their own horses on their property with plenty of room to spare. This level of density allows sufficient open space to accommodate trails and various equestrian facilties, all highly sought after in the local area, while still providing enough density to generate strong returns. Consequently our vision for the property is an “equestrian estates community” offering plenty of open space, trails and equestrian facilities, in keeping with local culture and interests. Separate bike and/or hiking trails will also be provided for non-equestrian residents. Nothing quite like this exists in the area, and local residents are very excited about the prospect of having such a project in their community.
Housing and homesite prices in the area have escalated dramatically over the last few years, and now are at roughly $450,000 for the kind of lots we would anticipate offering for sale at Stillwater Estates. Planning, processing and entitlements should be completed in 2008, with the first 12-14 homesites being offered for sale in early 2009.