The current vision for Sands of Gold Estates calls for at least one five-star destination hotel, an 18-hole signature championship golf course, single-family lots, homes, oceanfront villas, ocean view villas, cottages and condominiums, all with modern technology and security features. Other planned amenities include a retail center, country club, nature walk, picnic pavilion, a marina and green space.
ROI's business development executive Dan Fitzgerald tells GlobeSt.com that Sanchez acquired the land for the project from the Ventura family, which he says owns most of town and surrounding property. He adds that infrastructure work is currently under way and will take more than a year to complete.
"We are making a market," he says. "You can look both ways down the beach and not see anything."
ROI will develop some of the community with joint venture partners. In the beginning, however, some lots may be sold to third party developers to generate additional capital for the project, Fitzgerald says. "Once the first phase begins to sell out, the revenue generated from that will roll into less dependence on that," he says.
The first phase will consist of a dozen or so oceanfront residential lots on a 25-acre chunk of land. After that, commercial space likely will be developed up near the main road through the region. The golf course, club house and surrounding residences will be its own development phase.
The project will take between five and seven years to build out, if not longer, and can expand as the market demands. "Where we are in five years will dictate the next five," Fitzgerald says. "We have options to purchase additional property; there's plenty of room to expand here outside of what we are already envisioning."
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