Minto to Present Market-Driven, Neighborhood-Friendly Site Plan for Artesia’s Final Phase to Sunrise Commission on Dec. 8
Buyers and existing residents now prefer neighborhoods with
lower heights and less density, experienced builder says
Sunrise, FL — Minto Communities will submit on Dec. 8 a site plan for the last phase of Artesia that meets the needs of new buyers and wishes of local residents. The developer’s market analysis, based in part on its six decades of building homes, shows that low-height, townhome-style homes are better suited to the community than the high-density development the City of Sunrise is demanding.
“The city’s density option reflects the type of planning popular before the housing bubble burst,” noted Minto Communities Vice President Steve Svopa.
“What we are proposing is very similar to the product we built between 2008 and 2012. Fee-simple townhome development is more desirable and practical in South Florida, particularly within this community,” he said.
Minto, which established Artesia in 2004, has finished all but the last phase of the 75-acre resort-style community at Flamingo Road and Panther Parkway. The award-winning builder has already delivered 714 residences consisting of low-rise townhomes and four-story condominium buildings. The community is replete with amenities such as a world-class clubhouse, state-of-the-art fitness center, heated pools, and business center.
Minto had proposed adding 123 townhomes, but the city insisted upon more high-rise condominiums. Svopa stated that doesn’t make economic sense, given that existing condominiums in Artesia are currently selling for less than it would cost for Minto to build them.
“The market is telling us that high-density structures that sold well a decade ago won’t attract buyers in a community like Artesia,” Svopa said. “If we don’t go forward with these plans, we will examine building rental units, which are also highly popular and do support higher densities.”
Minto has made concessions in the plan that will go before the city commission. It contains a healthy mix of low-rise townhomes very similar to what Minto has built at Artesia.
About Minto Communities
Founded in 1955, Minto is a family-owned business that has grown over the last 60 years into one of North America’s leading builders, with more than 80,000 homes built, including 25,000 in Florida. Minto creates a wide array of award-winning new homes and resort-style master-planned communities to meet every lifestyle. The company has earned national awards and recognition that include consistently high rankings from Eliant Customer Service Surveys, Leadership in Energy and Environment Design (LEED) and multiple national awards in community and home design. For information, visit mintofla.com.