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Caribbean-Style Lagoons Make a Splash As Hot Amenity

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Caribbean-Style Lagoons Make a Splash As Hot Amenity

On February 24, 2020, Posted by , In Real Estate, With Comments Off on Caribbean-Style Lagoons Make a Splash As Hot Amenity
Huge man-made lagoons are becoming the centerpiece of more housing developments. There are five so far in Fla. and Texas, with seven more slated to debut this year.

Neighborhood lagoons are enticing homebuyers with beachfront-like properties without any risk from flooding, and these crystal lagoons are poised to rapidly expand in the U.S., CNBC reports.

So far, five lagoon communities are open in two states, Florida and Texas; and seven more are slated to open this year in California and Pennsylvania. A company that creates these large pool areas says it has orders for 30 more around the U.S.

These artificial bodies of water can stretch over 8 acres and be filled with 16 million gallons of water. They have surrounding sandy beaches, and the water tends to be crystal, Caribbean blue. They appear to be a cross between a man-made lake and a swimming pool.

“When you see this thing, it really, really pops and is spectacular,” says Greg Singleton, president of the Metro Development Group, which worked with the firm Crystal Lagoons in a community in the Tampa, Fla., area.

“It’s way cheaper than a golf course, and it appeals to so many different people,” Singleton says. “It just became a cost-benefit analysis for us. We thought we’d sell more homes quicker and get a price premium when it’s all said and done.”

In the area around the Tampa lagoon, seven builders are building more than 1,000 homes starting in the $200,000 range. The homes are selling faster than homes in the surrounding area, Singleton says.

The lagoon constantly filters the water, and the creators behind it tout that the lagoons use 100 times fewer chemicals than conventional swimming pools and just 2% of the energy. Also, lagoon levels can be lowered in advance of storms, so there’s little flood risk, they say.

“We’ve got 30 signed projects, and it’s really been kind of an inflection curve in the last couple of years,” says Eric Cherasia, vice president of Crystal Lagoons.

In Pittsburgh, Crystal Lagoons is part of a project in redeveloping a former industrial area with retail and residential. The lagoon will be the attraction and be featured in the redevelopment. In the winter, the lagoon will be turned into an ice skating rink.

Source: “Caribbean-Like Lagoons Give Homebuyers the Benefits of the Beach Without the Risk,” CNBC (Feb. 13, 2020)

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