Monterra Developer In Cooper City, FL... Full Steam Ahead!

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Monterra Developer In Cooper City, FL... Full Steam Ahead!

Postby GreenRealty » Sat Dec 19, 2009 8:36 pm

Monterra Developer... Full Steam Ahead!




Mixed-use plan for Cooper City site gives way to vision of fewer homes[/size]
March 29, 2009|By Susannah Bryan Staff Writer

COOPER CITY — This was the plan: Transform a historical dairy farm into a mammoth $1 billion development packed with homes, multistory condo towers and commercial space.

But the housing boom went bust and developer TOUSA Inc. filed for bankruptcy protection last year, leaving residents and city leaders wondering what would become of the sprawling project dubbed Monterra.

They now have their answer: The new owner of the parcel, Coral Gables-based developer Jim Carr, wants to build less on his 400 acres. Five-story buildings will be scaled down to two or three; instead of 1,910 homes, he will build fewer than 1,800.

Carr thinks single-family homes are a better fit for Cooper City, a bedroom community of 30,000.

"We'll be here developing, hopefully turning it into a better project than originally planned," he recently told city leaders.

The economic downturn and housing bust have some wondering whether it could be the start of a trend.

South Florida already has an estimated 33-month supply of vacant condos and a one-year supply of single-family homes, said Brad Hunter, chief economist for the research firm Metrostudy, which collects housing data.

Carr thinks that's reason enough for an auto-dependent region like South Florida to rethink its embrace of high-density, mixed-use development.

Such projects look good in theory, but "historically they don't work," he said, pointing to failed projects from West Palm Beach to Miami. "Then you're just sitting there with empty space."

During the boom years, developers - with the approvals of local government officials - embraced mixed-use developments.

Mixed use became an excuse to increase density whether it made sense or not, said Neil Merin, head of the commercial real estate firm NAI Merin Hunter Codman in West Palm Beach.

"Mixed use is not something you can put anywhere and everywhere," Merin said. "You're probably going to see more push-back from developers against cities [that are] mandating new urbanism whether the market wants it or not."

But cities from Margate to Miramar, Sunrise to Hollywood have made it clear they want mixed-use development, said Henry Sniezek, director of the Broward County Planning Council.

"I think you're going to continue to see mixed-use projects as the market comes back," Sniezek said. "I think that's our future."


A Letter from the Monterra, Cooper City Developer

Date: Dec. 17, 2009
It is with great personal and professional pride that we introduce South Florida’s newest
hometown community, Monterra in Cooper City.

Our new company, CC Devco Homes, a Codina-Carr company, has devoted more than
a year to working on the exciting redesign and redevelopment of Monterra, featuring brand new
construction of significant single-family and estate home designs, as well as spaciously-designed
townhome selections. With a remarkably accessible eastern community site, spanning over
500 acres, Monterra will maintain the strong sense of community on which Cooper City
was founded.

For those who are familiar with Monterra’s history, this new chapter represents an
exciting opportunity for families desiring a new home in an area renowned for its lifestyle,
schools, recreational attractions, shopping and more.

With an economic climate of foreclosures, re-sales and uncertainties, there has never
been a better time to buy a new home that is realistically priced and with low interest rates.

‘The Complete Home’, with the highest standard of inclusive features, best describes
what buyers can expect to find at Monterra. ‘The Complete Home’, only at Monterra,
incorporates home features that are usually considered upgrades in other communities; every
home is delivered “complete” to the buyer, from the handsome exteriors to the wealth of
upgraded designer touches. With a 10,000 square foot clubhouse, and many recreational and
sports amenities, Monterra will become the ‘hometown’ of choice for many fortunate families.

Forming CC Devco Homes as the developer and builder of Monterra, Armando Codina
and Jim Carr, both civic, community and prominent business leaders, share their vision for the
success of this master-planned development.



ImageAsk Green Realty about purchasing a Monterra home today! Green Realty is Cooper City's leading real estate firm with a special emphasis on the Monterra home development project! Let our Green Realty agents assist you today with finding the Monterra home of your dreams!

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