The Walk at Bluffton Square, a new neighborhood adjacent to Old Town Bluffton, is in the works.
Bluffton’s Development Review Committee (DRC) approved the subdivision of three lots at the corner of Burnt Church Road and May River Road into what eventually will be 50 detached single-family homes, each with a two-car garage. The DRC’s description of the project says it will be just south of Fern Lakes Road and across from Tabby Road.
Carter Faucette, the general sales manager with PulteGroup, said Wednesday that the first model home will be similar to other Pulte homes in Charleston and should be completed in May or June. Prices will range from the low $300,000s to the low $400,000s.
The Walk would be the latest neighborhood to offer homes in what has been a successful year for the local housing market. Oldfield Mews is expanding by 164 units in nearby Okatie, and Bluffton approved 46 new homes for construction in September.
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In Hardeeville, the Latitude Margaritaville community welcomed its first homeowners earlier this month.
According to the Beaufort County Realtors Association (BCAR), the median home sales price in the 29910 zip code for October has increased by more than $20,000 compared to this time last year. Through October, the 2018 median sales price is up $2,000 from last year’s $251,224 figure.
The Walk’s projected home prices would be above the median in Bluffton, though Faucette said PulteGroup plans to market them to young families and millennials.
Despite an improving market right now, sales for all 50 lots at The Walk will likely not close for another 18 months, with buildout taking about two years. But, the BCAR announced this month that sales trends should keep homebuilders’ confidence in the market high.
Faucette said the neighborhood will have a large pond at its back. It’ll also provide a tree preserve and a nature trail that owners can use for exercise or leisure.