Development of more than 100 acres near Pole Branch Road continues the residential development trend in Lake Wylie.
The Bluffs, a single-family plan for 59 homes covering 112 acres between S.C. 274, Pole Branch and River Oaks roads, earned preliminary approval Feb. 9 from the York County planning commission. The plan is part of a larger, 133-acre development bringing 76 homes to Lake Wylie.
“We have some large estate lots,” said Tom Smith, developer with May Green Properties. “We have two lake lots. At The Bluffs, it’ll be similar to (previous May Green offering) Patrick Place.”
The Bluffs will features homes in the $350,000-$500,000 range on half-acre and larger lots. The larger property, all by May Green, also includes phase four lots of Coves on River Oaks. Construction should begin in the spring.
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The third phase of Coves on River Oaks is sold out, and phase two is close. Coves on River Oaks, when complete, will have more than 100 homes. The first three phases, with estate and lake lots, covers almost 220 acres.
Smith said this latest offering is in line with what’s happening in the Lake Wylie area, as his and other projects sit in various stages of county approval, planning or construction.
Last year, Crescent Communities rezoned properties that could add more than 1,000 new homes to Lake Wylie. Apartments are under construction at the former Golf Masters site on S.C. 274 and Mattamy Homes announced plans last year for 175 units. Walton South Carolina plans to put a Baxter-like community on the northern part of Crowders Creek, with more than 500 residential units.
All the new homes could be part of a larger, region-wide trend. The Charlotte Regional Realtor Association put out data Feb. 10 on home sales for January. Sales were up almost 9 percent from January 2014, though down compared to December. Average and median sales prices are up from January 2014, as are listing prices.
“Demand for homes across the region continues to be strong,” said Maren Brisson-Kuester, association president. “However, inventory remains challenged.”
New residential listings were down more than 5 percent in January compared to a year prior. Overall inventory was down 16 percent.
“With properties experiencing shorter days on market, today’s buyers are seeing signs of a solid seller’s market which will probably persist through spring,” Brisson-Kuester said.