CHARLOTTE COUNTY, Fla. - County Commissioners approved a plan Tuesday, that would add a 580-home development on Hunter Creek.

But how will the move affect the local economy?

A neighbor of the development says she's personally excited about the move.

"It really doesn't bother me at all. I think it will be a good thing for our neighborhood, and I'm sorry that I'm not gonna be over there," says resident Joanne Picken.

The development, called The Harbor Club, is being developed by Ben Maltese. It not only includes nearly 600 homes, but also; a marina, a restaurant, and a dry storage facility. Homes will range anywhere between the low $200s to a million and a half.

But residents are concerned about how this might impact the already slow housing market.

"We already know that Florida has a saturation of homes. So this will only add to the confusion, right?" asks Tom Picken.

Local economists say although developments like The Harbor Club and The Estates could increase supply, the demand will eventually catch up.

"The fact that people are going forward, to me, indicates that hey're looking beyond the next 3 or 4 quarters." " [They 're] looking at the long run demographics of the country and where Florida is heading in terms of its trend," says Sean Snaith, Ph.D., from The University of Central Florida.

Land Developer, Ben Maltese, says he's banking on that upward trend.

"It does make you nervous," Maltese says, "I'm a realist as well."

The Harbor Club still needs more zoning approvals before moving forward. But, Maltese hopes to break ground in the next year and a half.