The Caesarea Development Corporation is preparing to continue its wave of construction in the town.
Calcalist – Yedioth Ahronoth's economic newspaper, has learned the corporation plans to promote the development and marketing of land for the construction of a new neighborhood that will lie on a 115 acre area, and include 240 lots, each with an area of 6,458 square feet.
The land on which neighborhood number 12 will be built is located in the south-west part of the town, on a dune that overlooks the sea – a view that most of the lot owners will enjoy.
While the town's Golf Residence neighborhood was marketed and branded around the concept of the new golf club, designed by Pete Dye, one of the leading golf course architects in the world, the new neighborhood will be marketed around the concept of living on the coarse sand dunes and the view of the sea.
In recent months the urban building scheme was approved for the land and the corporation paid the development fees to the local committee. The issuing of construction permits is in final stages.
Development works are expected to begin during 2009, at an estimate value of tens of millions of shekels, and the corporation said the lots will go on the market in 2010.
Prices for the lots are yet to be set, but are expected to be equal to the prices of similar sized lots in the Golf Residence, meaning around NIS 1.85 million (about $ 440,000).
At these prices, the Caesarea Development Corporation's income is expected to reach NIS 450 million ($106.86 million).
The Dani-Hi shooting range park south of the town will be evacuated for the project, and legal proceedings in the matter are underway.
As part of the project, an old quarry will be renovated and included in the open green fields and public parks planned for the neighborhood.
Environmentally-friendly public systems and infrastructure will also be installed in the new neighborhood, and incentives will be given to homeowners that adapt their housing units to the standards of "green" construction.
The Gold Residence was constructed in 2000, and includes 384 lots ranging from an area of 6,458 square feet to 10,763 square feet. So far, 300 of the lots have been sold.
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