Business briefs: Lennar set to build Lakewood Ranch subdivision
Lennar set to build at Lakewood Ranch site
LAKEWOOD RANCH -- National homebuilder Lennar has submitted its first set of construction plans for a Lakewood Ranch golf and housing subdivision it announced this year.
According to documents submitted to Manatee County Monday, Lennar will start its Bridgewater East community with a 212-home section near Uihlein Road and State Road 70. The neighborhood of single-family homes will be built around a set of winding streets at the southwest corner of an overall project expected to span 1,389 acres.
Homes will be built on lots of approximately 130 feet deep and 75 feet wide.
When complete, Bridgewater East will be integrated with Lennar's planned Lakewood National Golf and Country Club. The community will include 889 single-family homes and 1,110 condominiums and townhomes. The golf course and an associated driving range will be largely in the middle of the neighborhoods that make up Bridgewater East.
Plans for the initial phase of the development are being reviewed by county planning staff.
Lennar is already selling homes in its similarly named Bridgewater subdivision on nearby White Eagle Blvd. Homes in the subdivision are large as 3,828 square feet, and are priced upward of $600,000.
U.S. stocks edge higher after big week; Oil slumps
U.S. stocks edged higher Monday on a quiet day for the market ahead of a busy weak for corporate earnings.
Investors will be focusing on corporate earnings this week as they try to assess the impact that slowing global growth is having on company profits. Analysts are projecting that earnings contracted more than 5 percent in the third quarter as overseas demand weakened. JPMorgan Chase, Intel and Johnson & Johnson are among companies that will publish their earnings in coming days.
While the stock market was open Monday, bond trading was closed in observance of the Columbus Day holiday.
Economists still expect rate hike before January
NEW YORK -- A survey of business economists finds that a majority still expect the Federal Reserve to raise interest rates before the end of the year, with the broader economy expected to grow at a slightly faster pace in 2015 than previously forecast.
Economists now expect the gross domestic product, adjusted for inflation, to rise 2.5 percent for the year, according to the survey by the National Association for Business Economics. That's up from the previous forecast of 2.4 percent in June.
The uptick is the result of a stronger-than-expected growth in the first half of the year, however. For the remainder of the year, economists lowered their forecast.
-- Herald staff and wire reports
This story was originally published October 12, 2015 at 7:35 PM with the headline "Business briefs: Lennar set to build Lakewood Ranch subdivision ."