Since 2008, Cane Bay Plantation has sold more homes in the tri-county area than any other community.  Currently Cane Bay maintains that status as more and more people choose to call it home.  Find out why by checking out our community and new homes near Charleston.

Lennar Corp. buys 175 acres in Cane Bay

BY KATY STECH

The Post and Courier

Friday, July 9, 2010

Lennar Corp. has purchased 175 acres in the expanding Cane Bay Plantation neighborhood, a bullish deal that marks one of the largest local land purchases by a home builder so far this year.

The Miami-based builder plans to construct a yet-unnamed neighborhood of single-family homes, despite a glut of existing homes and unsettled economic concerns. Bob Hilliard, division president, called the move a “good tactic in a recessionary market.”

He added that Lennar has made contrarian investments before in Charleston.

“We were buying land in 2009, and we feel like the market has done nothing but improve,” Hilliard said.

The Cane Bay neighborhood near the Carnes Crossroads area of Berkeley County currently has three distinct residential areas — Old Rice Retreat, Sanctuary Cove and Del Webb — which combine to hold about 575 owner-occupied homes.

Lennar plans to build another roughly 500 homes on its newly acquired land, starting late next year.

Once completed, Cane Bay could hold up to 10,000 homes.

Cane Bay’s developer, Charleston-based Gramling Brothers Real Estate and Development, sold the land to Lennar. A Gramling representative and Hilliard declined to disclose the price.

New home construction activity in the Charleston region has been concentrated in a handful of markets, according to William Lattimore III of Georgia-based Coastal Market Graphics, which tracks local development. Moncks Corner and Goose Creek were the most active locations in recent months, he said.

Deep-pocketed national home builders such as Lennar are driving the new development, he added.

“They have the capital to acquire existing subdivisions but also groups of developed lots, and they can build at a lower price point,” he said.

The dedication ceremony for the Cane Bay Elementary School was held recently.  Members of the administration, faculty, support staff, as well as community residents were there to celebrate the new school that opened this past fall.  Exemplifying the spirit of the community, the neighboring Del Webb Chorus was there to sing along with the third grade chorus.

The Old Rice Retreat neighborhood of Cane Bay hosted their first annual pumpkin carving party at the Old Rice Retreat amenity center.  Many neighborhood families turned out to socialize and carve their pumpkins, which ranged from funny to spooky to unique.  A good time was had by all!

Charleston Real Estate

A recent review indicates that Cane Bay Plantation continues to be the #1 selling community in the tri-county area in 2009!  To find out why, check out our site:  cane-bay.com for more information on our community and these new homes for sale in Charleston.  We’re always adding new content and updates.  Thank you.

Residents of Cane Bay were selected to model in a recent photo shoot of the community.  Acclaimed photographer, Clara Chambers (www.clarachambers.com) captured adults, teens, kids and families in their natural environment in various neighborhoods and locations around Cane Bay.  The weather was beautiful and everyone did a great job!  We’re looking forward to featuring the new images on the website soon.

The wetlands of Old Rice Retreat have had a new visitor recently.  A beautiful swan has been living in this lush area and residents are delighted to watch her.  Egrets also reside here.

Residents submitted their own photos showing their lives at Cane Bay for a chance to appear on this website.  People that live in Cane Bay love their community and it shows!  Thanks to all for participating.  Here are the winning photos.

The grand prize winner!  Taken by David & Kelly Hedges of Old Rice Retreat

“Sunset” by John & Mary Ann Adelmann of Del Webb Cane Bay

“Playtime” by Kari & Joseph Martin of Sanctuary Cove

“Spring” by David & Kelly Hedges of Old Rice Retreat