if you pull up a stonebridge master plan map from just last year, tiburon was going to encompass all fo the current lots slated for tiburon as well as the cul de sac lots now becoming montero.
the idea in 2005 was to start building on the smaller lots and the larger lots on the cul de sac would be the grand finale with obviously much higher pricing.
this is similar to davidson where they had phase 1 homes backing to stonebridge parkway but with the last phase homes with canyon views.
and similar to calabria selling phase 1 homes facing the high voltage power lines first and leaving the lots higher up the hill for later phases.
what I mean about construction differences is you can have the same 4000 sqft home, but one constructed as a mega-tract home, in other word an overgrown 3000 sqft 4S type home with additional loft and a bigger master with a retreat. or one that’s a true luxury home.
despite similar size and from the same builder, you can spot that difference between calabria and serenity right off the bat. that’s why I say if you want to see the difference between tiburon and montero, go see the calabria/serenity difference.
I’ll put it to you this way, let’s assume the builders all got the lots at $500k per.
with calabria brookfield spent $100/sqft to build true luxury homes at 5000sqft, that gives us $1 million in capital investment per home, but if brookfield can sell the home for $1.4 million, that’s fine.
now that the 1+ million market is gone, brookfield now spend $75/sqft to build 4000 sqft mega-tract homes on these same lots, now they can sell at $900k and still come away with some profit.
cornerstone is following the same playbook.
if you are impressed by tiburon, you’ll be vastly disappointed by montero.
