SEBRING: New home construction is expected to be almost doubled during 1977 at Spring Lake, a community being developed by Coral Ridge Properties, Inc. about eight miles southeast of Sebring. J.H. Ryan, general manager of Spring Lake and assistant vice-president of Coral Ridge Properties, said Thursday that 200 homes would be built during the year, compared to 112 in 1976. Mr. Ryan spoke to a group of 30 banking representatives, builders, and the news media at a preview gathering. He said the community has 230 homes and a population of 500, with an annual disposable income of $1.5 million. He said the disposable income would reach $8 million when the projected 200homes for 1977 are completed and occupied.
Spring Lake is the fastest growing subdivision in Highlands County, doubling the construction activity of its nearest competitor. The total investment at Spring Lake to date is listed at $19.5 million.