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LOOKING AT LAKEBRIDGE IN VICTORIA

FORMERLY KNOWN AS KREY LAKES

         On May 9th Council approved the vacation of a blanket drainage and utility easement on Outlot D of the Krey Lakes development west of downtown Victoria.  Krey Lakes was platted in 2006 by Hartman Communities and Pemtom Land Company.  Future additions were platted as outlots for future final plat approvals. 

         D.R. Horton is doing the final plat for the 3rd Addition of Krey Lakes and a new drainage and utility easement is necessary for a new Outlot A in this Addition so that lots can be developed, said Holly Kreft, Community Development Director.

         Council then approved the final plat for Krey Lakes 3rd Addition, which consists of 24 single family lots.  Price range for the homes being constructed?  "In the $300,000's, generally," replied the developer.  "It changes daily."

         In order to clarify the history of this area, the Gazette asked some questions of  Holly Kreft.

         1) The sign at the entrance to this development identifies it as Lakebridge.  Is the name Krey Lakes synonymous with Lakebridge?  Holly:  "Yes, it is the same development.  When it was platted, it was platted as Krey Lakes in honor of Carl Krey Lake on the south border.  Typically a development will be named what is was when platted, i.e., Watermark, Deer Run, Swiss Mountain.  When D.R. Horton purchased it from Hartman Communities and Pemtom Land Company, they decided to rename it Lakebridge, so as part of the platting process, we refer to it as Krey Lakes, but the homeowners refer to it as the Lakebridge neighborhood."

         2) Are there a total of three phases/additions at Lakebridge?  Holly:  "The City approved the 3rd Addition of Krey Lakes on May 9th.  The 1st Addition consisted of 75 lots.  The 2nd Addition was a lot line shift that resulted in no new lots.  There are two additional phases of Krey Lakes yet to be platted and developed.  The May 9th approval is technically the second part of the first phase."

         3)  How many lot or homes will be at  Lakebridge when the development is completed?  Holly:  "Based on the preliminary plat that was approved in 2006, if all of the phases were complete, there would be a total of 172 single family lots."

         4) What is the acreage of Lakebridge, all additions combined? Holly:  "Total acreage of all the phases is approximately net 116 acres, removing wetlands and Carl Krey Lake."

         5) How many lots did Hartman Communities develop? Holly:  "Hartman and Pemtom were originally partners in the project and received approval for 187 single family lots.  They then sold the majority of the development to D.R. Horton.  Hartman did not develop any of the lots."

         6) How many lots did Pemtom Land Company develop?  Holly:  "Pemtom has not developed any of the lots, but they own approximately 65 acres within Krey Lakes, for future development, one of the future phases referenced in my response to your second question."

         7) D.R. Horton is developing how many lots?  "D.R. Horton developed Krey Lakes 1st Addition with 75 lots and is developing Krey Lakes 3rd Addition with 24 lots.  There are 42 additional lots on the Pemtom property and 31 additional lots on a future phase owned by D.R. Horton.  These lots have received preliminary plat approval, but not final plat approval."

         8) Can you estimate how many homes have been constructed at Lakebridge to date?  Holly:  "As of May 1st, 2011, we have issued building permits for 66 of the 75 lots in the 1st Addition."

 

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June 2011