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.