Lennar and International Sales Group, whose niche is the competitive condo market, have pre-sold 290 units. Jack Paget is director of sales for the project, whose sales center is located at 360 Harbor Island Dr. He attributes the sales success in part to the fact that the project is planned for the site of the former Harbor Island Spa. In addition, the city is in the middle of a rebirth, with several retail and residential developments either under way and on the drawing boards. The city is in Miami-Dade County, just north of Miami.

A project of Lennar Development Inc., the one-, two- and three-bedroom residences range from 900 sf to 1,500 sf and are priced from $265,000 to approximately $575,000. Occupancy of the 15-story tower is planned for late 2005. The first phase will consist of 279 units. The development features an island lifestyle and panoramic views.

Publicly traded Lennar Corp. was founded in 1954 with an initial $10,000 investment as a small homebuilder in Miami. The company has grown to become a $6-billion national homebuilder. Its homes are located from urban infill communities to golf course communities. The company, well-known for building and selling single-family home developments, recently put a stronger emphasis on multifamily projects. In addition, Lennar Corp., in a joint venture with LNR Property Corp., a national, diversified real estate investment, finance and management company, recently completed its merger with the Newhall Land and Farming Co. of California, a community planner in north Los Angeles County whose main focuses are planned communities in Valencia and on Newhall Ranch.