Lennar Getting Busy Building Homes in This Hot Market

Frank Lloyd Wright’s modernism inspired this single-family home community’s design.

MIAMI— Lennar is getting in on the Doral action. The homebuilder just unveiled plans for a luxury community dubbed Park Central. Lennar describes it as a resort-style master-planned gated community surrounding Doral’s largest natural preserve. Park Central promises to balance nature’s elements and luxury amenities. “Park Central’s sophisticated home designs is truly unique to Doral,” says Carlos Gonzalez , president of Lennar Southeast Florida Division. “We are always listening to our customers’ feedback and we know that they will feel right at home in Park Central, especially with the picturesque clubhouse, currently under construction, this club will become the epicenter for relaxation, entertainment and cherished family memories in Doral.” This is not just marketing talk. Frank Lloyd Wright’s modernism inspired this single-family home community’s design. The homes will blend natural materials, like decorative stone and wood elements, with cantilevered overhangs and angular rooflines. The 28,000-total square foot clubhouse with be home to a ballroom, billiard room, swimming pool, fitness center, various exercise rooms, saunas, tennis courts, basketball court, children’s water park, a playground and more. Park Central sits in Doral, which neighbors the Miami International Airport along with direct access to Dolphin Expressway and Downtown Miami. Doral is home to dining, entertainment, shopping, schools, parks, recreation areas, as well as the Doral Trump & Spa and the famous “Blue Monster” Golf Course. Will there be a demand for new single-family homes in the region? Mike Nunziata , division president for 13^th Floor Homes , thinks so. His firm is currently developing Central Parc, a 253-home community in Broward County. “Demand for first-time home buying is at higher levels than we have seen in recent years, as young Millennials increasingly come off the sidelines looking to buy,” Nunziata tells GlobeSt.com. “The challenge has been delivering enough supply to meet this demand, and at a price point that most first-time buyers can afford. According to the National Association of Home Builders, entry-level homes now account for less than 20% of new construction. Before the recession that number was closer to 30%, which has created a significant gap in the market. “Financing for single-family home purchases is still readily available through traditional loan sources, requiring a smaller amount of cash up-front,” Nunziata says. “Additionally, interest rates are still very low.” Is Miami’s residential market stable or not? Get one viewpoint in my recent column.