From The Desk Of The CEO | Aug 16, 2024

Summer Pointe Village Breaks Ground in the Heart of Summerfield, Florida

 

From the Desk of the CEO

Wednesday marked a major milestone for Stark Enterprises and our partner Danny Gaekwad as we broke ground on Summer Pointe Village, our latest build-to-rent community in Summerfield, Florida. This project, which will be ready by Summer 2025, is another exciting step in our journey as we adapt to the evolving real estate market.

The housing industry has undergone significant changes in recent years, driven by rising home prices, interest rate hikes, and a shortage of affordable single-family homes. Many potential homeowners are now rethinking their plans, leading to a surge in demand for rental properties that offer the same comfort and space as traditional homes. This shift is part of a broader trend in the real estate market, where the dream of homeownership is being reshaped by economic realities. More people are opting for the flexibility and lower upfront costs of renting, particularly in high-demand regions like Florida.

At Stark Enterprises, we’re responding to these changes by focusing more on delivering beautiful, build-to-rent communities like Summer Pointe Village, West Shire Village in nearby Ocala, FL, and Oak Harbor Village which is currently under construction in Bolivia, NC. These developments provide high-quality rental options that cater to the needs of modern families, empty-nesters, and young professionals.

Summer Pointe Village will feature 454 ranch-style homes built in two phases, the first delivering 252 units and the second adding 202 more. The community will offer a living experience that truly rivals traditional single-family homes, with 1, 2, and 3-bedroom configurations that all feature open floor plans, walk-in closets, private patios, in-suite amenities like washers and dryers, and two-car attached garages. The communal amenity spaces are thoughtfully designed with a resort-style feel, including a contemporary clubhouse, a state-of-the-art fitness center, a community pool with lap lanes, a sundeck, cabanas, a playground, a multi-sport court, an on-site dog park, and social spaces like fire pits, poolside grills, and pocket parks.

Located on approximately 110 acres, the community is strategically positioned next to The Villages, a thriving retirement community that’s seen remarkable economic growth. Our development fills a crucial gap, offering luxurious living for those who want to be close to this vibrant area but don’t meet the age requirements for The Villages. With easy access to Route 301 and I-75, residents will have no trouble exploring Summerfield and the surrounding communities.

Summer Pointe Village is a key part of our strategy to expand in the Sun Belt, where demand for rental properties continues to grow. This groundbreaking represents another step on our mission to seek out and answer the call in growing communities that are in need of quality housing options. As we continue to expand our build-to-rent portfolio, this community will showcase our commitment to creating top-notch, luxurious living spaces in some of the region’s most desirable locations. Stay tuned for more updates as Summer Pointe Village takes shape!

 

Sincerely,
Ezra Stark
Chief Executive Officer