Devco South – Fairways Condominium
Devco South – Fairways Condominium
1979 to 1980
9150 NE 38th Drive, Coral Springs
Construction
36 garden townhouses overlooking a golf course, 3 storeys
Opportunity: Built in 1975/1976, the original developer had lost the 75%-completed building to its construction lender during the 1975/77 real estate correction. After spending a few years owning it, the bank was eager to sell. The 36 unit unfinished building was acquired in early-1979.
Task: The challenge was to complete the construction of the units and the abandoned property as a whole, and to market them as condominiums in a suburban market that was still highly competitive.
Results: While the project took less than 18 months from beginning to end, its sales were completed in only 9 months.
Fairways Condominium