Communities around Lake Murray continue to grow
Lake Murray’s in-demand shores will become more populated this year with the addition of a 120-lot subdivision — one of the biggest lakeside projects in decades.
In early June, Virginia-based American Land Holdings will begin developing its $15 million Palmetto Pointe subdivision in Saluda County, said Dean Sinatra, a partner with the company.
The subdivision is the company’s first venture on Lake Murray, and will have 80 waterfront lots and 40 interior lots, making it one of the largest waterfront developments on the lake in 10 years, Sinatra said.
As someone who has lived in South Carolina and worked in waterfront development for a few decades, Sinatra had his eye on Lake Murray.
“It’s not an easy lake to get on” for developers because of a low stock of available large tracts, Sinatra said.
He was able to secure 125 acres, including 2 miles of waterfront land, for Palmetto Pointe on Mt. Willing Road near Watkins Point Road. Saluda County is in a sweet spot that makes it ideal for a development, according to Sinatra.
The area around Lake Murray in Saluda has more small family and retiree homes than other parts of the lake, but it has room for growth, too, he said. The county west of Lexington County doesn’t yet face the same congestion of some neighboring areas.
“It’s much more affordable. It’s a little more rural, a little more quiet, not as much boat traffic,” Sinatra said.
Palmetto Pointe lots will range from half-acres to 3 acres. Interior lots will start at $9,900 and waterfront lots will start at around $60,000, he said. The subdivision will also have private parks and green spaces, a playground, facilities for boat storage, a boat ramp, parking area and gazebos. The goal, according to Sinatra, is to keep amenities simple so the subdivision has homeowners association fees in the $300-500 per year range.
“We try to even the playing field for a more affordable product so retirees or families can have access to a beautiful lake,” he said.
A new development will also have a “significant” economic impact in the area, said Miriam Atria, president and CEO of Capital City Lake Murray Country.
“Obviously, for Saluda County the increase in property and sales taxes bases” will create economic momentum, she said.
The development could provide a positive impact on area businesses from restaurants, boating, outdoor recreation vendors, marinas, and gas stations, too, Atria said.
What’s now a wooded area will be cleared and paved, surveyed and prepared, so potential buyers can drive in to Palmetto Pointe and pick out lots by late September, Sinatra said. Great Southern Homes is partnering with American Land Holdings to build lake cottages for purchase and a model home for the grand opening.
Sinatra said that due to demand, American Land Holdings has begun taking reservations online and by phone for land viewing and selection. The phone number to reach Palmetto Pointe is 888-857-4897.
Correction, 8:36 a.m.: A previous version of this story misstated how long Sinatra said it’s been since a project of this size was developed on Lake Murray. This is one of the largest Lake Murray developments in 10 years.