The Real Deal Miami

Codina-Carr, BBX Capital land $35M construction loan

Funding for Bonterra community in Hialeah now totals $43M

April 29, 2015 09:45AM

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Rendering of a Bonterra home

Rendering of a Bonterra home

Florida Community Bank granted an additional $34.8 million in loans to developers of a community of single-family homes in Hialeah.

CC Homes, a Codina-Carr company, and BBX Capital Real Estate are building the 394-home Bonterra community. The additional funding brings the total to $43 million, according to a press release.

“We are excited to receive the additional funding to begin development of the Bonterra master-planned community in Hialeah,” Seth M. Wise, president of BBX Capital Real Estate, said in a statement. “Located in a prime location in Hialeah, close to Miami Lakes and A-rated schools, Bonterra will be one of the last new master-planned communities developed in north Miami-Dade County.”

Single-family homes at Bonterra, located on 50 acres near Miami Lakes Drive and I-75, will range from 2,042 square feet to 2,388 square feet. Amenities will include access to a clubhouse, gym, resort-style pool, parks and a 15-acre lake.

Prices start at nearly $350,000. The development has sold more than 80 residences, and the 128-acre master-planned community will include a mix of villas, town homes, apartments and single-family homes totaling 1,171, according to a press release.

Last week, an affiliate of Codina-Carr sold a Doral apartment complex to AMLI last week for more than $100 million. — Katherine Kallergis