New housing holds torrid pace

Though down 200 from last year's sizzling midyear total, 1,448 permits this year point to continued explosive growth.

By JAMES THORNER

© St. Petersburg Times, published August 1, 2000

LAND O'LAKES -- If last year was a gold-medal year for Pasco County home construction, this year is looking to grab the silver.

In the first six months of this year, the county issued 1,448 permits for single-family homes, about 200 fewer than last year's midyear tally of 1,642.

But this year's Pasco housing numbers still rank as the second biggest six-month total since the late 1980s.

Housing growth has concentrated in the southern half of the county near State Road 54 from Trinity in the west to Wesley Chapel in the east.

Pasco neighborhoods generally offer not only better housing value for the dollar, but an easy commute to jobs in Hillsborough and Pinellas counties.

Some of the neighborhoods driving the explosion include Meadow Pointe and Lexington Oaks in central Pasco and Trinity and Heritage Springs in west Pasco.

"We have sold in less than four years over 400 homes," said Jocelyn Airey of Lennar Homes Inc., exclusive builder of the Stagecoach community along SR 54 near Wesley Chapel. "We're on our last 100."

The torrid pace is expected to continue, judging by the flood of applications at the county's growth management division.

Because of increasing workloads, growth management expects to double its number of planners next year from five to 10.

Most of the proposed subdivisions, totaling at least 6,000 homes, are clustered around the soon-to-open Suncoast Parkway, the tri-county toll road connecting Pasco with Hillsborough and Hernando counties.

The first to break ground will be Oakstead, the 1,200-home development to be built by Suarez Housing Corp., Lennar Homes Inc., Pulte Home Corp. and Arthur Rutenberg Homes.

"Most of these won't hit permitting until 2002. Oakstead is the first of the major communities coming up that will start pulling permits next year," said Marvin Rose, a Tampa Bay area real estate analyst.

Rose, whose monthly Rose Residential Report is must reading for builders and developers, said Pasco's housing market has thrived the past two years like few times since the glory days of the late 1970s.

Last year, the county issued 3,032 permits for single-family homes. The all-time record was the 5,175 permits issued in 1979, most in west Pasco.

"Most people don't realize the '70s were much higher than now," Rose said.

© St. Petersburg Times. All rights reserved.