The Real Deal Miami

Parkland Reserve grand opening a symbol of perseverance in a down market, developer says

October 08, 2009 01:39PM

Centerline Homes is planning a weekend grand opening for its 168-house Parkland Reserve development, but the developer’s chief executive says it’s not the homes that make the project stand out, it’s the fact that the company went ahead with the project despite not being able to obtain a loan. Centerline financed the development itself, a symptom of the tight credit market and CEO Craig Perry’s belief that the subdivision off the Sawgrass Parkway in Parkland would be profitable. The homes are priced from roughly $330,000 to $450,000, and Perry said the development currently has 70 signed contracts and nine completed sales. [Sun Sentinel]