Depending on individual market demand, the company expects to begin construction on most of the projects this summer. "We have over 20 towers under way, just finished or about to start construction," George Page, Watermark senior vice president, tells GlobeSt.com. "Of these new buildings, we expect sales at nine of the 11, at the least, to be doing well enough to start in the second half of this year." Two of the 11 structures could start in the summer or early fall of 2002.
The privately owned Bonita Springs company is proposing developments in its headquarters community, Marco Island, Naples and Sarasota in southwest Florida; and Palm Coast, Jupiter, West Palm Beach, Aventura and Coral Gables along the East Coast. "I don't know of anyone doing the shear volume that we're doing," Page says.
Despite the scope of the project, the announcement of the undertaking didn't surprise South Florida real estate expert Lewis M. Goodkin, who has watched Watermark Communities flourish under the control of Alfred Hoffman Jr., the company's chairman; and Jerry Starkey, the company's president.
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