Cornerstone's New Subdivision Hits the Ground Running

CORAL GABLES, FL-Cornerstone Group, a locally based developer, launched a new subdivision to focus on developing townhomes and has several projects in the early planning stages.The company named John Barr president of the company’s new, unnamed townhome division. It will operate as an independent subdivision of Cornerstone Premier Communities, Cornerstone Group’s luxury for-sale division. He will oversee the entire townhome community development process, including land feasibility, site plan and product design, construction, sales and marketing.The subdivision already three projects on the drawing board. Marsh Harbour, a 404-unit project, will rise in Riviera Beach, FL, and the developers anticipate a December or January groundbreaking. San Remo, a townhome project, will rise in North Lauderdale, FL, is expected to break ground in January. The third project, Sonoma Bay, is a townhouse project slated to rise in Riviera Beach is set to break ground in November or December.In addition, a new property is planned for Boynton Beach. Not yet named, this project is expected to have a January groundbreaking.The subdivision was formed out of market demand, according to Cornerstone. In a market where condominium development is flourishing, there is a demand for townhomes, specifically, Barr says.”It is more a sense of individual ownership,” he says. “There is a certain person who does not mind a multifamily environment but does not want to be in a tower condo. It is a sense of space that a townhome provides. Typically, a young buyer wants an ultra urban feel and cannot afford to be in a condo on the water. You get a small piece of property in condos, whereas a townhome offers more space.”Barr adds in a statement: “As land opportunities continue to diminish, there is a growing trend among developers toward urban infill, where there is ample space to build townhome communities. On the consumer end, buyers tend to favor the concept of mimicking the spaciousness of a single-family home without the upkeep. We’re in a market that is moving away from long corridors and toward more intimate, personalized environments, which townhome communities provide.”Barr has more than 25 years’ experience developing townhouses and single-family homes. Most recently, he supervised the sales and marketing, development and general operations of several single-family home communities for Toll Brothers. He also was chief operating officer and a principal with Gemstar Homes, where he oversaw all phases for $30 million in residential development projects.