Sterling Hill

Sterling Hill is a planned residential community located in the south central portion of unincorporated Hernando County just north of Spring Hill Drive and east of Barclay Avenue, straddling both sides of Elgin Boulevard. The community is approximately three miles south of SR 50 and seven miles west of US 41 and US 19. Additionally, the Suncoast Parkway is approximately 1.5 miles away and provides highway access to major employment centers and shopping in the Tampa Bay area.

The Sterling Hill community, which began development in 2003, features 11 separately gated neighborhoods serviced by two recreation amenities, one in the northern section and the other in the southern section of the community. Both offer residents swimming pools, covered cabana areas, clubhouses complete with fitness facility, gathering area and a multipurpose room and tennis and basketball courts.

From 2003 through 2007 Sterling Hills successfully served as an affordable alternative to the Pasco County developments allowing builders to sell homes at a price point that was not obtainable in the Tampa Bay market. Buyers were a mix of families and retirees; historically Hernando had been a retirement market. Primary market buyers were attracted to southern Hernando due to its proximity to the Suncoast Parkway which opened in 2001 and the price point that builders could offer due to lower land costs and impact fees.

Today, Hernando County and specifically Sterling Hill will reemerge as an affordable retirement or empty nester market due to the remaining product (villas) and the availability of affordable primary market product in Hillsborough and Pasco counties. The one positive note that may allow Hernando to compete in the affordable single-family market is the lower cost of development in Hernando compared to Pasco and Hillsborough counties. Impact fees in Hernando have been adjusted back to 2001 levels to stimulate development in the County. At the present time impact fees are $3,620 through November 30, 2010 compared to the full amount of $7,888. Pasco and Hillsborough County impact fees are $20,732 and $9,180 respectively.

Maxcy Development Group Holdings is the owner of Phases III and IV of Sterling Hill. Maxcy is representing the CDD bondholder’s interests by managing the disposition of the property. At this time Phase III is platted and developed and Maxcy is marketing these lots to production builders. Phase III includes 136 duplex lots, of which 8 units were constructed and completed by Tripp Trademark Homes. It is our intention to negotiate a purchase structure that will allow builders to achieve a $99,999 price point.

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Marketing Package
Site Plan