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BONITA SPRINGS — WCI Communities, a leading builder of condos during the real estate boom, started construction on its first condo tower in eight years.
Prices for condos at Altaira at The Colony Golf and Bay Club in Bonita Springs will start at $1 million. The 76-condo tower is scheduled to be completed in the second quarter of 2017.
“WCI will continue to set the standard for high-rise living, as we have throughout our company's history,” says Paul Erhardt, senior vice president of homebuilding and development for the Bonita Springs-based company, in a statement.
WCI executives have said they are cautious about condo development. At the peak in 2005, WCI had 29 condo towers under construction and reported more than $1 billion in new condo sales. But the bust pushed the company into bankruptcy reorganization for a short time in 2009, reemerging principally as a single-family homebuilder through the recovery.
WCI is targeting an upscale clientele. Altaira condos will measure 3,300 to 3,500 square feet of living space, depending on the floor plan. The tower will have 19 residential floors, each with four residences per floor, offering views of The Colony's lakes, nature preserves and golf course.
Some condos in Altaira will have as much as to 529 square feet of open-air and screened-in terraces. The luxury tower's rooftop Sky Terrace will offer views of Estero Bay and the Gulf of Mexico.
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