 The community of Colina do Cedro is in a well located city with strong economic growth, an emerging middle class, and limited competition from local developers. This makes it an ideal project for our entry level home product. Colina do Cedro is situated on a picturesque hillside in Camboriú. The 33,000m2 site has a wonderful combination of views from the natural surrounding countryside to the high-rises of Balneário Camboriú just 7km away.
A new standard for entry level homes
The units will follow our ‘entry level home’ model consisting of one story houses, quality finishing and a parking space for each unit. The community will have a common recreational area in a safe, clean environment overlooking the city, while enjoying a gentle sea breeze from the top of the hill. See the picture below for actual construction progress or visit http://www.colinadocedro.com.br/.
Precious Land
Land in Balneario Camboriu (BC) and Camboriu is a rare commodity. Balneario Camboriu’s size is 42 km² and it can host over 1 million people in 1,000+ residential buildings. Land use restrictions in BC only allow for the development of high rises and medium/high income housing to be built. Camboriu on the other hand allows for the construction of low income and entry level homes for the workers serving the area to live. It is in this area that we focused our acquisition efforts. 
After looking at dozens of parcels, we located one and purchased a 33,000 m2 piece of land for our project. It is ideally located at the top of a hill, with breathtaking views towards the city, easy and fast access to the city center, the main highway (BR 101) and the new primary access to Caboriu. It is close to a number of local employers including construction material suppliers and textile manufacturers, as well as schools and the new hospital located just outside the city center of Camboriu.
No other project like this
One of the reasons this type of quality housing project does not exist today is that this market is currently served by small local developers with no access to capital are currently trying to build such homes. Current project sizes range from 5-20 homes (60 to 70 m² priced at R$ 85,000 to R$ 140,000). The home deficit was further compounded by the recent floods that destroyed thousands of homes. Abramar is the only developer focused on and qualified to build large projects of this type locally. Abramar has the competitive advantage of offering homes of a higher quality and lower price than any other developer in the area.
Project Progress
We had our first home owners move in on 03/08/2010. The homes have all been completed and we are now constructing the two apartment towers which we expect to complete in mid 2012. Most of the units have been sold.
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