The Real Deal Miami

Terra’s Modern Doral community is now 90 percent sold

Homes range in price from $860,000 to $1.5M

June 21, 2016 03:15PM
By Katherine Kallergis

  • Print
Modern Doral

Modern Doral

Terra Group’s new community of single-family homes in Doral is now 90 percent sold, the developer announced on Tuesday. 

Homes at the 319-unit project, located along 74th Street between 94th and 107th avenues, range in price from $860,000 to $1.5 million.

Closings are underway at Modern Doral, which has sold 290 homes, the developer said. Houses range from 3,100 square feet to 4,500 square feet and from four to six bedrooms. They’ll include two- to- three-car garages, ceilings up to 12 feet high, panoramic windows, balconies, tropical landscaping.

Buyers are mostly families, Terra’s David Martin told The Real Deal. The majority are “move up” buyers from Doral, or families relocating from Colombia, Venezuela and other Latin American countries.

The community will offer 24-hour security, public green spaces, clubhouses with fitness centers, children’s playrooms, libraries, business centers, resort-style pools and common grilling areas, according to a press release. It will also be next to Doral Glades Park, a planned 25-acre park with soccer fields, tennis courts, a nature reserve, and biking and walking trails.

So far, nearly 100 homes at Modern Doral have been delivered, Martin said. He expects to be sold out and completed by next year.

Modern Doral is across from Terra’s Doral Commons, a retail center occupied by Publix, Citibank, McDonald’s and TJ Maxx. A sushi restaurant and an Italian restaurant have not yet been announced for the shopping center.

The Related Group, Shoma, Lennar and Codina are among the other developers targeting Doral. Century Homebuilders Group and Devtov are developing Mansions at Doral, a luxury single-family home community also on Northwest 107th Avenue. Preconstruction prices at Mansions start at $1.2 million.

Earlier this year, Lennar and CC Homes paid $96 million for the former White Course, a 130-acre golf course in Doral. So far, the developers have submitted plans for 2,209 residential units, 30,000 square feet of retail space and 150,000 square feet of office space.

Martin told TRD the city has a “huge amount of opportunity.”

“We’ve been developing single-family homes in Doral for many years,” he said. “I can’t find any more land to build more single-family homes.”