Developers Armando Codina and Jim Carr Purchase Closed Sunrise Country Club for $12.3 Million
CC Homes, led by Andres Miyares, Armando Codina, and Jim Carr, acquires the 160-acre development site in Fort Lauderdale from Roland DiGasbarro.
In a significant real estate deal, CC Homes, a prominent Florida-based developer, has acquired the closed Sunrise Country Club in Fort Lauderdale for $12.3 million. The 160-acre development site, located at 7400 Northwest 24th Place, will be transformed into a new residential community named Solterra.
The buyer group, led by Andres Miyares, Armando Codina, and Jim Carr, plans to develop a 900-home project on the site. Solterra will feature a mix of single-family homes and townhouses, catering to the growing demand for housing in the area.
The seller of the property is Roland DiGasbarro, who had owned the Sunrise Country Club for several years. DiGasbarro decided to sell the property to CC Homes due to their strong track record in developing successful residential communities in Florida.
The sale price of $12.3 million reflects the value of the land and the potential for a lucrative development project. CC Homes intends to finance the infrastructure improvements for Solterra through special assessments on future homeowners. This approach ensures that the costs of necessary upgrades, such as roads, utilities, and amenities, are covered without burdening the developer.
The acquisition of the Sunrise Country Club presents an exciting opportunity for CC Homes. Fort Lauderdale is a highly desirable market for real estate development, with its proximity to Miami and beautiful coastal lifestyle. The 160-acre site provides ample space for a large-scale residential project, allowing CC Homes to meet the demand for housing in the area.
Armando Codina and Jim Carr, the key figures behind CC Homes, bring extensive experience and expertise to the table. Codina is a renowned developer and founder of Codina Partners, a prominent real estate development firm. Carr, a former executive at Lennar Corporation, has a strong background in residential development and sales.
The Solterra project aligns with CC Homes’ commitment to creating high-quality communities that enhance the lives of residents. The planned mix of single-family homes and townhouses caters to a diverse range of buyers, from families to young professionals.
The financing strategy for infrastructure improvements through special assessments is a common approach in real estate development. By spreading the costs among future homeowners, CC Homes can ensure that the necessary upgrades are completed without impacting the initial purchase price of the homes. This approach also allows the developer to focus on delivering well-designed and thoughtfully planned residences.
The Solterra project is expected to have a significant economic impact on the Fort Lauderdale area. The development will create jobs during the construction phase and contribute to the local economy through increased property values and tax revenue once the community is established.
Overall, the acquisition of the closed Sunrise Country Club by CC Homes marks an exciting chapter in the development of Fort Lauderdale’s real estate market. With the expertise of Armando Codina, Jim Carr, and their team, Solterra is poised to become a sought-after residential community that offers a high quality of life for its residents.