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In October 2021, 49% of Americans said that availability of affordable housing is a major problem where they live coupled with a lack of inventory in desirable markets. Here’s how Atlas has been solving this challenge.
Area Housing Statistics
According to Florida Gulf Coast Multiple Listing Service, the median sale price for single-family homes in Lee County jumped 27.5% to $415,000 in January 2022. Condominiums and townhouses also saw a significant increase of 30.9% to $294,500. Combined with an inventory decrease of 74.9% for all property types and a dramatic increase in rental rates (23% since January 2021 and 45% since 2019), the need for quality yet financially achievable housing has never been greater. In addition to the shortage of affordable homes in the area, Hurricane Ian has done significant damage to the infrastructure, exacerbating the housing crisis. To combat these challenges, Atlas is able to deliver modular homes of an outstanding quality and performance at prices that are up to 50% less per square foot than conventional site-built homes.
Pine Island is the largest island on the Gulf Coast of peninsular Florida, sitting just north of Sanibel Island and just east of Captiva Island. Only 30 minutes from Ft. Myers, Pine Island offers a quiet, laidback, small-town atmosphere.
In August 2022, the Atlas Group (the “developer”) acquired a 20-acre parcel of land on Pine Island, located behind the Winn Dixie on Jamerson Rd. Atlas is in the process of building a 111-unit single-family, detached condominium community on this site, which will include a clubhouse, pool, and gymnasium. Homebuyers will choose their lots within the community and have the option of a one-bedroom/one-bath or a three-bedroom/two-bathroom cottage home, priced at $210,000 and $325,000, respectively. In addition, homebuyers will have a monthly ground lease that will be paid to the Homeowner’s Association; ground leases will vary by location, but the average ground lease will be $625.
The horizontal construction for this community is expected to take 3-4 months and Atlas’ cottage homes are built modularly in their manufacturing facility in Orlando, so homes can be built and delivered onsite within a couple of months. As a result, homeowners will be able to move into their new cottage homes within 2-4 months of purchase.
Lake Oklawaha Resort
Area Housing Statistics
Atlas acquired land just 30 miles from Ocala, FL and less than two hours from Florida’s East and West Coasts.
Located above the shoreline overlooking the breathtaking 12,000 acre Lake Oklawaha and surrounded by over 400,000 acres of Ocala National Forest, Lake Oklawaha Resort is transforming the high-growth market of Ocala, FL with affordable RV lots and RV/cottage home combinations.
Atlas is creating an opportunity for home buyers to own financially achievable RV lots or RV lot/cottage home combinations and use them for vacation or full-time living.
Premium single lots average 40’ X 70’ and RV lot/cottage home sites average 80’ X 70’ with custom options like paving, landscaping, and fencing available.
Both seasonal stays and long-term leases are available, with the opportunity to rent out your home/RV combo through Atlas’s Owners Management Program for an income producing investment.
Atlas contemporary cottage homes are built to Florida code, attached to permanent foundations, and eligible for traditional 30-year mortgages. If you need to finance your purchase, many options exist, including Home Equity loans, personal loans, land loans, mortgages, and more.
Timber Ridge Cottages
Fully committing to do what it takes to secure results is who we are at our core. The Atlas Cottage Homes team combines determination and ability to stay calm under duress with a creative approach to problem solving to champion high investment returns while making a real difference.About Atlas