Strong building permit activity in Holmes Beach

The pace is not record setting.

The most permits issued in any one year on Holmes Beach was 30 in 2005. But the island community has had its second and third best years of the decade in 2009 and 2010.

It logged 24 permits in 2009 and 23 in 2010, with one builder – Shawn Kaleta – pulling nearly half of them during the two year period.

Kaleta, a 33-year-old entrepreneur who has been building and rehabbing houses on the island for more than a decade, had his best year last year, recording 14 of the 23 permits issued.

Kaleta has perfected a formula for selling new and rehabbed houses to investors who are looking to more than cover their carrying costs by renting out units on a weekly basis.

Kaleta and his partner, Scott Eason, have just come out with a new Key West-style product that sell for $450,000 to $650,000 depending on the size and distance from the beach. Kaleta says the houses generate $80,000 to $120,000 per year in rental income and pay for themselves in six to eight years.

“The typical houses here that come up for sale are ranchettes that were built in the 50s and 60s and need a lot of work to fix up,” Kaleta said. “But vacationers who come here don’t want to stress. This is a vacation for them not a project.

Holmes Beach Building Permits

Year Permits Value of Permits
2004 8 $3,065,715
2005 16 $7,548,600
2006 30 $17,632,620
2007 21 $9,824,506
2008 12 $7,526,320
2009 24 $10,648,877
2010 23 $7,315,125
2011 2 $657,125
Total 136 $64,219,294

 

Kaleta’s Permits

Year Total Permits Kaleta’s Permits Market Share
2009 24 9 37.5%
2010 23 14 60.8%
Total 47 23 48.9%
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Michael Braga

Michael Braga is a business reporter for the Sarasota Herald-Tribune and Inside Real Estate. email or call (941) 361-4877.

Last modified: March 28, 2011
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