by Bill Belleville
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In the battlefield atmosphere surrounding the new Land Use Plan in the Keys, you'll seldom find developers and the DCA agreeing on an issue. The Sanctuary at Key Largo is one notable exception. "Why can't there be more of these?" asks a DCA official.
Situated on the Gulf within an upland hammock of tropical foliage, the 24-acre development will contain only 38 condominiums when completed later this year. Each unit has a full waterfront view and is afforded privacy from the others by a strategically placed walkway, winding through the woods. A pre-development advertisement boasts this is a special place "in which nothing else can be built -- ever."
That's what's going to sell it out," says Ken Randall, who is developing the property under the name Large Key Corporation. "This is a gorgeous piece of property. And I've been watching the land clearing very, very carefully. I won't let a bulldozer on the property unless I'm right by its side."
The property, used as a private fishing camp since 1935, still has an old Conch house --which has been painstakingly remodeled into a clubhouse -- in the center. There is a boat dock with provisions for dry storage. From there, boats can be retrieved and placed in the water at any time, so there is no need for a dredged marina. There is a a tennis court and Jacuzzi and 17 acres of land left in permanent conservation.
"We might have been able to cram 120 units back there," says Randall, "but this is beautiful land and we wanted to do this right."
Though the property was originally platted for 38 single-family homes with only 10 lots on the water, Randall was able to win a trade-off for multifamily development with his low density plans. Figuring that inland homes would bring only one-half the price of waterfront homes, Randall was able to reposition all the units directly on the water. "They are built in pods of three, and each has its own pathway entrance, separated from others by 30 to 40 feet of thick foliage. Winn-Dixie is three blocks away, but you'd never know it."
Randall cut corners by doing most of the pre-development permitting himself, winning approval by slogging through the necessary hearings and conferences without expensive legal or planning assistance. "I've been working 16 hours a day on this project," says Randall. "I'm on the property every day."
His reward, beyond the aesthetics of the development, is "moving the property very, very quickly." Even before a model was in place in March, Randall had already sold four units.
Most multifamily developments in the Keys, insiders say, are marketed to out-of-towners turned on to the attractiveness of the islands rather than to the quality of the actual development. The Sanctuary is already attracting strong interest from locals, indicating a more enduring substance with a style that goes beyond marketing.