Disclaimer #1This may be my longest post ever on DDF.
If this whole thing does not interest you, feel free to skip this post
Disclaimer #2I'm by no means an expert in real estate, mortgages, building new developments, etc. Please don't challenge me on these subjects, I'm just providing you the information that I received.
IntroFirst of all, in my OP I mentioned its Shloime Taussig, I was wrong, Its Rabbi Yisroel Taussig he has the Beled shul in BP.
The location of the new development is in Pasco County, Tampa FL.
They chose this location,
Firstly, because they only wanted a red state (I know FL is a swing state but red enough for our needs)
Secondly, because Pasco counties population is at around 500,000 and they have a dream of having 3 million within the next 10 years, and 50% of the residents should be working within the county, hence, they are very accommodating and helping out with what they can, to make this a reality.
AgeThe age group they are currently targeting is between 25-35, as they need families with young children, in order the schools should succeed.
At the moment, they are not accepting anyone who doesn't want to live there full time
(eventually, they may build houses for people who want it as a winter home, etc. but it will be on a separate st)
They want it to be a regular erliche chasidish community, and for this, they meet every couple before accepting a deposit.
ChinuchHe is already interviewing some mechanchim who will be hired as menahel, Principal, etc.
They are going to start with one school and cheider, but eventually, as the community grows, they would like to have 3-4 Schools.
Depending on your income, you may be eligible for the school choice program, which is about 6K per child, their dream is to cover all expenses with this. (I guess they will still receive other government funds besides school choice, just as our schools here in NY)
Limudei chol will have to be at a higher level from our schools in NY, Boys will have to start learning Limudei chol at a younger age than in NY.
Kosher foodThey are in talks with a few of the larger supermarkets, and they will choose one to open up a branch. They want the community to have it all just as in NY.
Housing90% of the development consist of townhouses and single homes on 40 Lot, however, currently, there is no demand for townhouses, so they won't begin with townhouses.
A house on a 40 Lot means, your property is 40ft wide, with a decent front lawn and backyard, the house is 2600sf, with 4 larger or 5 smaller bedrooms, and a 2 car garage. Cost is 325K [the cost is not final]
Property tax is 1% of the purchase price, then there is also HOA (homeowner's association) fees which estimates at around $200 per month.
A house on a 50 Lot is 3200sf, and it also has a private guest suite, this will be around 375K
The 60 Lot is a house of 3400sf, they don't know the exact cost yet but it will be in the low 400K.
The developers will begin building model homes soon, and they encourage you to fly down, see the location, and check out a model home.
It seems to me like they want to start off with the 40 Lots and they are pushing for that.
The county will assist with a First-time Homebuyer Assistance Program, You will be eligible for a loan of 10K with 0% interest, primary Residence buyers are eligible for 97% mortgage.
They are also working on getting the moving cost covered by the county, but this is not guaranteed yet.
Community amenities The plan is to build up a Shul,Mikva, playground, community pool and tennis court in the center of the development, and it shouldn't take you more than 12 minutes to get there from any side of the development.
Signing up for the moveIf you want to go ahead, you need to put down a $5,000 deposit, $500 is nonrefundable (going for lawyer fees, etc) the rest will go into an escrow account.
Once they have 100 deposits, they will coordinate a local event, where you will meet your potential neighbors, and you will be able to decide if you want to make the move or not.
As of yesterday, they already received 30 deposits
They estimate to begin selling homes around Sep 15,( you have to purchase your lot and get a mortgage (Guess like a construction loan) before they begin building it. Once home sales begin, you have 2 weeks to back out and have your $4500 refund, at the same time, once you signed and got your mortgage, the $4500 deposit will be refunded.
The projected date to have all amenities ready and fully operational is September 2021. The first homes to go into contract will be completed by April 2021 (Pesach time), however, this is not guaranteed.
The local government is also offering major subsidies if you are relocating or opening up a new business, I won't go into detail, because this is on a case to case basis.
All in all, It looks too good to be true, on the other hand, its about time something like this to happen, and I hope I will make the right choice