Megatel started the construction of its luxury lagoon community, dubbed Saint Tropez, in June 2022. The residential neighbourhood will span 1,000 acres and feature resort-like amenities, such as a man-made lagoon, white sand beaches, immersive play areas, an entertainment district including a bar-restaurant, bowling alley and arcade, and fitness studios. Residents can undertake a range of activities, like paddle boarding, kayaking and descending a waterslide tower. Saint Tropez is just one of 12 master-planned lagoon communities being created by the developer. It’s catering to families and will comprise single-family lots and multi-family units that will cost between $350,000 and $700,000, while rentals start at $1,200 per month.
Residential areas are adapting to consumers’ changing living needs and desires. As we wrote in Wrldcty 2022: Solutions for Urban Challenges: “People want to live in places that offer excitement and stimulation, not the transaction-driven ambience of office-centric business districts.” It’s an approach Megatel’s lagoon community promises to deliver with its wide-ranging facilities and activities.
Besides excitement, consumers are also seeking community and neighbourly support. In 2022, 62% of respondents to a global survey said they trust their community (Edelman, 2022). The desire for community-based living gives new appeal to hyperlocal residential areas. Megatel’s offering of hyperlocal amenities and activities give its residents the chance to meet and build a community within the lagoon.
Megatel isn’t the only upscale planned community attracting attention: see Google and Lendlease’s housing development in Silicon Valley, Disney’s Storyliving concept and London’s recently opened Coppermaker Square.