Avatar® Closes Out Sales in Two Florida Communities
July 02, 2008
One sale away from closing out a third
Despite sluggish residential real estate sales statewide, Avatar® Properties Inc. continues to weather troubled times by closing out sales in two Florida communities and is one sale away from closing out a third.
The builder-developer arm of Coral Gables-based Avatar® Holdings Inc. completed the sale of all 114 homes it built in Sterling Hill, a family-oriented community in Spring Hill some 25 miles north of Tampa; wrapped up sales of all 370 of the single-family homes it built in New Tampa’s lakefront community of Cory Lake Isles; and is one sale away from closing out sales of all 24 luxury residences in the West Palm Beach lakefront community of Woodslanding.
Avatar® 3- and 4-bedroom Sterling Hill homes with up to 2,836 sq. ft. of living area were priced from the $160s to $260s; 4-, 5- and 6-bedroom Cory Lake Isles homes with up to 5,400 sq. ft. of living area which were priced from the $300s to the $900s; and 4-, 5- and 6-bedroom Woodslanding homes with 3,000 to 5,000 sq. ft. of living area are priced from the $600s to over $1 million.
Avatar® currently is building and developing several Central Florida communities. They are Poinciana, a 47,000-acre master-planned community where two lines of single-family homes are currently priced from the $120s and $160s Solivita®, the company’s award-winning active-adult community in Poinciana where five collections of single-family homes are available from the $130s to the $330s, and attached single-family homes are offered from the low $200s; BellalagoSM, the company’s award-winning gated community with over one mile of shoreline on Lake Tohopekaliga where three lines of single-family homes are available from the $200s to the $400s; and TerraLargoSM, a gated, lakefront community in north Lakeland where two lines of single-family homes are available from the mid $200s to the $400s.
Avatar® recently earned a B+ rating for 2007 in Big Builder magazine’s 2008 Public Builder Report Card. One of only two public builders with a B+ rating or better, Avatar® “made money last year---a rarity among public builders,” according to Big Builder’s editorial staff.
