BizJournals Portfolio

Dreamscape

Nov 19 2007

Back to: Tom Monaghan's Unanswered Prayers

An artist's rendering of Ave Maria, which is coming to fruition during the worst real estate market since the early '90s. The town does not yet bustle like this.
Monaghan paid $20 million to build Ave Maria's
As recently as February, Ave Maria's developers expected to sell 600 homes by year's end. At this point, they'll be lucky to hit their revised target of 300. There were 73 deeds on record as of October 24, and so far about 260 people have moved in.
The developers planned to build 11,000 homes at Ave Maria by 2017.
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Dreamscape
An artist's rendering of Ave Maria, which is coming to fruition during the worst real estate market since the early '90s. The town does not yet bustle like this.
Grand Design
Monaghan paid $20 million to build Ave Maria's "oratory," shown here in February.
A Sluggish Start
As recently as February, Ave Maria's developers expected to sell 600 homes by year's end. At this point, they'll be lucky to hit their revised target of 300. There were 73 deeds on record as of October 24, and so far about 260 people have moved in.
Just Blue Skyin'
The developers planned to build 11,000 homes at Ave Maria by 2017.