The entrance to Park Trace, off Bay Road east of Osprey. Staff photo / Harold Bubil; 5-28-2013.
Park Trace, in Osprey just south of The Oaks, is one of those tucked-away neighborhoods that few people know about.
“It’s a unique place, a truly hidden gem,” said Paul Castonguay of Sandals Realty, who has lived there since 2004. “I’ve had Realtors who sell properties in nearby Rivendell ask me we where Park Trace is when I mention it.”
The deed-restricted community has just 138 homes surrounded by a lush natural landscape. The northern boundary is a group of lakes along East Bay Street. To the west and along part of the southern edge are wooded preserves. A large, L-shaped lake provides the remaining borders and some of the best views in the subdivision. Its southern leg is part of Oscar Scherer State Park. The eastern portion adjoins a section of the Legacy Trail, including one of the main access points through Osprey Junction Trailhead, a 10-acre county park that opened in 2010. (FOR A PHOTO GALLERY ACCOMPANYING THIS ARTICLE, CLICK ON THIS LINK.)
Wildlife abounds. It’s not unusual to see great horned owls, river otters and deer.
“It’s an area with nature as its neighbor — a nature lover’s paradise,” Castonguay said.
Although there are two entrances off Bay Street and a back road to Rivendell to the south, there is little through traffic. Residents appreciate the resulting quiet and privacy.
This house at 104 Park Trace Blvd. in Park Trace, Osprey, is listed at $ 388,000 through Jack Keller of Jack Keller Inc. It has four bedrooms and three baths in 2,557 square feet, and was built in 2002. The house has a pool. Staff photo / Harold Bubil; 5-28-2013.
Park Trace was developed from 2000 to 2004. Five custom builders were involved, including Tivoli Homes, Vision Homes and Petz Custom Homes, whose owner lived in the neighborhood at the time.
As a result, the community has a variety of exteriors and floor plans.
“There is great value here that’s been untapped,” says Castonguay.
The houses occupy generously sized lots and range from 2,000 to 3,500 square feet. Many back onto lakes or preserves. Yards are beautifully landscaped and meticulously maintained, adding to the neighborhood’s appeal.
The most coveted homes on Park Trace Boulevard, overlooking the large lake, are the stable core of the community. Only three have changed owners since 2000-01.
“That’s not your average stay in Florida,” said Castonguay, who has sold seven properties in the community. “People bought, liked it here and settled.”
Gina Tripp, one of those original owners, had her house built in 2001. She loves the neighborhood for its natural beauty and convenient location.
“I’m close to everything,” she said. “I can get to Siesta Beach in 15 minutes, and to Nokomis Beach, in 10. The entrance to the Legacy Trail is virtually outside my door.”
This house at 280 Park Trace Blvd. in Park Trace, Osprey, is listed for sale at $ 469,900 through Michael and Cynthia Bowers of Coldwell Banker. It has five bedrooms and three baths in 2,624 square feet. Built in 2001, it has a pool. Staff photo / Harold Bubil; 5-28-2013.
Spanish Point is just down Bay Street. Shops and restaurants in downtown Venice or at the Westfield Sarasota Square Mall are within easy driving distance. The entrance to Oscar Scherer State Park, with hiking, canoeing and biking, swimming and picnicking opportunities, is just a short drive down U.S. 41.
Tripp also likes the pet-friendly atmosphere.
“I have two Labradors, and, as a result, I know all of our neighbors.”
Castonguay concurs, “There are a lot of people in Park Trace who walk their dogs, morning, noon and night.”
Residents are a diverse mix of retirees, snowbirds, working professionals, single adults and families with children. A number of the latter moved to Park Trace because of its close proximity to Pine View School for the Gifted. Other area schools include Laurel Nokomis Elementary, Venice Middle and Venice High School.
Park Trace had an unusual experience after the housing bubble burst. Of the 14 homes on Oak Briar, the smallest street in the community, more than half ended up as distressed properties.
“Surprisingly, the rest of the neighborhood was hardly affected,” Castonguay said. While it skewed property values for a while, over the past three years the new owners of those properties renovated and upgraded them, making the area highly desirable again.
“We’ve turned the corner,” Castonguay said.
That progress is reflected in the rising values of homes. Last year, the highest-priced property in Park Trace sold for $416,000. This year, Castonguay has pending sales on two homes on Park Trace Boulevard, both pocket listings, whose asking prices were $549,000 and $524,900, respectively.
Pocket listings are properties that do not appear on the real estate Multiple Listing Service — just like homes sold by owners.
Houses are on the market now are priced at $388,000 and $469,900.
“With interest rates what they are now, to own a gorgeous home in a gorgeous setting for less than what it would cost to rent — you’d be a fool not to pursue it,” Castonguay said.
