Luxury condo projects come, go

Bella Sera eyes West Lawrence market previously sought by Villaniche

A planned $35 million luxury condo project for western Lawrence has been called off, just as a larger condo project is preparing to hit the market.

Villaniche, a project spearheaded by former Oread Laboratories CEO David Kimbrell, has been halted, officials working on the project said Wednesday.

The project’s office is closed and telephone line disconnected.

According to the Villaniche Web site, nine of the project’s 43 condos already had been sold. Those buyers either already have received their money back or will be receiving it soon, said Gary Nuzum, broker for Coldwell Banker McGrew Real Estate, which had been marketing the project.

“It’s all refundable,” Nuzum said.

Villaniche had been marketed as offering a “lifestyle of luxury that knows no compromise,” a gated community of Tuscan-style condos ranging in price from the $295,000 “Chanti” to the $949,000 “Bellagio.”

The project had been set for 8.83 acres northwest of Bob Billings Parkway and east of Research Park Drive — just west of Wakarusa Drive in the heart of the Oread West Research Park that he helped develop. Villaniche was being marketed to retirees and other “empty-nesters” looking for maintenance-free living in a vibrant community.

Kimbrell was unavailable for comment Wednesday, but a year ago he said that his company, Oread West Development Co., was committed to the project.

“I think the city is ready for a high-end, mixed-use development,” Kimbrell said at the time.

Jes Santaularia is targeting the same market, with plans for different results.

Santaularia and Karl Capps, owners of Diversified Concepts, are making plans for a similar project nearby: Bella Sera, a $45 million, 99-condo project on 8.24 acres along the north side of Bob Billings Parkway, just west of the McGrew Nature Preserve that is east of Wakarusa Drive.

The project’s first of three buildings will be five stories tall, with a fitness center, media room, library, game room and other amenities on the main level and an underground parking garage below. Upstairs condos will average 2,000 square feet — down from the average of nearly 3,000 square feet for Villaniche — and carry access to a host of conveniences, from remote security controls to a concierge service.

“There’s a significant movement to a no-maintenance, turn-key type of living,” Santaularia said. “We’re providing a resort environment in their own home. That’s what people want. They go all over the world to seek that, and there’s no reason not to have it at home.”

Santaularia said that he and Capps had a combined 50 years of experience in developing real estate, from single-family homes to self-storage units, office/warehouses and industrial buildings. As such, he doesn’t foresee having the same difficulties that befell Kimbrell’s Villaniche venture.

While Kimbrell priced his units before knowing his construction costs, Santaularia said, Diversified Concepts won’t even mention a range of unit prices until it receives bids back from construction companies.

The plan is to have bids in hand — and a marketing portfolio in place — in time for the April 30 beginning of the Lawrence Home Builder’s spring homes tour.

“We’ll go to the market with a price point that’s substantially less than Villaniche,” Santaularia said. “We are very professional negotiators with respect to bringing in projects that are under budget. We will do that when we bring Bella Sera to the market.”