Recorded resale prices by plan and building, the condo disclosure package, SIRS, insurance and flood letters, from the team that has sold Southwest Florida since 2012.
Updated October 2026 · By Jesse McGreevy and Marc Comisar, McGreevy and Comisar, Domain Realty · Prices from the Collier County Property Appraiser 2026 tax roll data files (dated 29 August 2026, newest Terrace sale recorded 11 August 2026), read 1 October 2026
McGreevy and Comisar are Southwest Florida buyer's agents who work in Ave Maria every week, and this is our guide to buying a condominium in Terrace Condominiums at The National, the fourteen four-story Lennar buildings inside The National Golf and Country Club at Ave Maria in Ave Maria, Florida: what a Terrace condo really sells for, which building and association you are buying into, what to demand in the resale disclosure package, and how a lender, an insurer and FEMA will look at the unit.
Terrace is now a resale market. Lennar's Terrace collection page read "sold out" on 23 September and again on 1 October 2026, and the newest Lennar Terrace closing in the county's August 2026 extract was recorded on 11 August 2026. In the twelve months from September 2025 to August 2026, Collier County recorded 85 qualified Terrace sales: 63 builder-direct Lennar closings at a $205,000 median and 22 resales at a $231,000 median, from $210,000 to $269,000.
The headline for a buyer is leverage. Of the 21 Terrace resales in that window we could pair with the same unit's earlier recorded sale, 19 closed below the earlier price, at a median change of minus 10.2 percent. Sellers who bought from Lennar in 2023 and 2024 are pricing against Lennar's own falling closing prices, and that gives a prepared buyer room to negotiate.
The other half of a Terrace purchase is paperwork. Every Terrace building is four habitable stories, so Florida's structural integrity reserve study and milestone inspection laws apply; every unit sits in one of six separate condominium associations; and every resale must come with the disclosure package that section 718.503 of the Florida Statutes requires, along with a seven-day right to cancel. This guide walks through each step before you write an offer.
To buy a Terrace condominium at The National in 2026, confirm your cash or get pre-approved with a lender that reviews condominium projects, sign a written buyer agreement before touring, pick the building and floor plan, read the seller's section 718.503 disclosure package inside the seven-day window, order the estoppels, and check the FEMA letter and insurance before your inspection period ends.
The order matters at Terrace because you are buying three things at once: a two-bedroom unit, a share of a four-story building run by one of six associations, and a place in The National's gated golf community with its own property owners association, club and Stewardship District charges. Lennar is no longer selling new Terrace homes, so the seller is an owner, the contract is usually the Florida Realtors and Florida Bar form, and the building's record is what you are really evaluating. We read that record with you before you are committed.
This guide covers why buyers work with us, the Terrace market for buyers, why resales close below the prior price, buying after Lennar's sellout, which building, association and plan fits you, the resale disclosure package and estoppels, the structural integrity reserve study and milestone inspection laws, condo insurance, condo lending, fees, golf and social membership, the recorded leasing and pet rules, flood letters, storm history, monthly carrying costs, closing costs, buyer representation after the NAR settlement, schools, how Terrace compares with Veranda and with Terrace at Heritage Landing, honest pros and cons, seasonal ownership, and more than forty answers to the questions Terrace buyers ask us.
These are the ten facts a Terrace buyer should know in October 2026, each drawn from the Collier County deed record, a recorded declaration, a Lennar or club document, a FEMA letter or a Florida statute.
McGreevy and Comisar are Top 1% Real Estate Agents Nationally Since 2008 and the #1 team in Southwest Florida since 2012, and we represent Terrace buyers with the same building-by-building county record we use to price Terrace listings: what each unit last sold for, which association and plan it sits in, and what Lennar's final closings did to the comparables.
If you're searching for the best buyer's agent for Terrace Condominiums at The National, McGreevy and Comisar represent homebuyers across Ave Maria, Naples, Estero, Bonita Springs, Fort Myers and Collier and Lee Counties, whether you are relocating, buying a winter home, buying your first condominium or adding a rental. As the leaders of Domain Realty Group, our team has sold over $2.5 billion in real estate, and McGreevy and Comisar alone have over $900 million in personal sales. For a side-by-side look at how to choose an agent in this market, see our guide to the best real estate agents in Ave Maria.
Honors and recognition:
Marc Comisar leads our buyer representation and Jesse McGreevy leads our listings, so our Terrace buyers hear how Terrace sellers think about price, timing and repairs from the people who advise sellers. We tracked all 85 recorded Terrace sales of the last twelve months, matched each one to its building, association and floor plan, and paired 21 of the 22 resales with the same unit's earlier price. County records carry no listing or selling office, so we do not state a represented-sale count here; ask us and we will walk you through each deed.
At Terrace you are buying into a building as much as a unit. The condominium association maintains and insures the structure, sets the reserves and enforces the declaration; The National's property owners association runs the gate, amenities and bulk cable; the town-wide Ave Maria Master Association covers common areas; the golf club bills the food and beverage minimum and, on golf-membership units, golf dues; and the Ave Maria Stewardship Community District bills its assessments on your tax bill. Each one is a separate body with its own records and its own estoppel. We order them, read them and raise the questions a lender will raise before your inspection period ends.
For every Terrace unit on your short list we pull the recorded price the seller paid and when, the building's association and manager, whether Lennar or owners control the board, the FEMA letter number that covers the building, the floor and plan position, Lennar's golf or non-golf label for the building, and the recorded leasing and pet rules where we have read them. You tour fewer units and offer with fewer surprises.
We will not tell you a building has a funded reserve study, a certain membership or a certain fee unless a document says so, and we will not describe what an association's reserve study says before you have read it yourself. As Top 1% Real Estate Agents Nationally Since 2008, our business runs on repeat clients and referrals, and those come from buyers who got what we said they would get.
If you are ready to start, request a Terrace buyer consultation or use our contact form, or reach Jesse direct at (239) 898-6072. Selling a Terrace home first? Get a free Terrace condo valuation, or see our guide to selling a Terrace condo at The National.
The Terrace market favors a prepared buyer in the fall of 2026: resales recorded a $231,000 median across 22 sales in the twelve months to August 2026, 19 of 21 paired resales closed below the seller's earlier price, and Lennar's final builder-direct closings in 2026 recorded a $199,000 median that now sits in every appraiser's comparable set.
Data updated: October 2026 (Collier County recorded qualified sales through 11 August 2026)
Every figure in this section is a qualified, improved Collier County recorded sale from the Collier County Property Appraiser 2026 tax roll data files dated 29 August 2026, filtered to the six Terrace condominium names. A sale counts as builder-direct when it is the unit's first qualified sale within a year of the year built, or the first sale of a unit the roll does not yet date; every other sale is a resale. Deeds carry no list price, no days on market and no listing office, so this section reports none of those.
| Window | All sales | All median | Builder-direct | Builder median | Resales | Resale median | Resale range |
|---|---|---|---|---|---|---|---|
| September 2025 to August 2026 (12 months) | 85 | $213,000 | 63 | $205,000 | 22 | $231,000 | $210,000 to $269,000 |
| September 2024 to August 2026 (24 months) | 164 | $225,000 | 135 | $223,000 | 29 | $240,000 | $210,000 to $300,000 |
| September 2023 to August 2026 (36 months) | 265 | $255,000 | 231 | $258,000 | 34 | $242,750 | $210,000 to $307,500 |
| All recorded history to August 2026 | 441 | $260,000 | 402 | $261,000 | 39 | $245,000 | $210,000 to $350,000 |
Source: Collier County Property Appraiser, 2026 tax roll data files. The twelve-month window holds 22 resales, more than the ten we require before quoting a median, so the twelve-month resale median is the figure we price from. Because 22 is an even count, $231,000 is the mean of the middle pair, $230,000 and $232,000.
| Heated size and plan | Resales, last 12 months | Median | Range |
|---|---|---|---|
| 1,120 sq ft (Arbor size) | 2 | $220,000 | $215,000 to $225,000 |
| 1,154 sq ft (Birkdale size) | 15 | $230,000 | $210,000 to $246,000 |
| 1,301 sq ft (Carolina size) | 5 | $260,000 | $240,000 to $269,000 |
| All 22 resales | 22 | $231,000 | $210,000 to $269,000 |
Price per square foot was nearly level across sizes, a mean of $197.71 across all 22 resales, so a Carolina costs more because it is bigger and has a den and end-unit windows, not because buyers paid a higher rate per foot. The heated sizes on the roll match Lennar's published plan sizes exactly, which is how each size carries a plan name.
| Association | Resales, last 12 months | Resale median | Builder-direct closings, last 12 months |
|---|---|---|---|
| Terrace I | 14 | $230,000 | 0 |
| Terrace II | 1 | $234,000 | 0 |
| Terrace III | 1 | $269,000 | 0 |
| Terrace IV | 4 | $235,000 | 0 |
| Terrace V | 2 | $238,000 | 12, at a $220,000 median |
| Terrace VI | 0 | n/a | 51, at a $200,000 median |
Terrace I, the oldest association, supplied 14 of the 22 resales, so its buildings on National Boulevard set most of today's resale evidence. Terrace VI had no resales yet; its 51 closings in the window were Lennar's.
| Year of sale | Builder-direct | Builder median | Resales | Resale median |
|---|---|---|---|---|
| 2021 | 21 | $227,999 | 0 | n/a |
| 2022 | 61 | $253,000 | 1 | $287,000 |
| 2023 | 116 | $273,000 | 5 | $304,000 |
| 2024 | 80 | $280,000 | 6 | $282,500 |
| 2025 | 79 | $236,000 | 10 | $242,500 |
| 2026 (to 11 August) | 45 | $199,000 | 17 | $232,000 |
Lennar's builder-direct median climbed from about $228,000 in 2021 to $280,000 in 2024 and then fell to $199,000 in 2026. The first-sale median of Building 43 at 5651 Double Eagle Circle, delivered at the peak in early 2024, was $286,000; the last building, Building 36 in Terrace VI, recorded a $195,000 first-sale median across its first 21 closings from June to August 2026.
County deeds give the price and the date. They do not give the asking price, the days on market, the concessions, the unit's condition or whether furniture conveyed. When you shop we read the current Terrace listings, the price history on each one and the newest deeds recorded after the county's August extract, and we tell you how each asking price sits against the recorded resale band for its plan and building.
A Terrace buyer has room to negotiate, and the room is documented. A seller who bought from Lennar in 2023 or 2024, when builder medians ran from $273,000 to $280,000, is selling into a resale band of $210,000 to $269,000, and Lennar's 2026 closings at a $199,000 median are now the comparables an appraiser will read. We build every offer from three numbers: the recorded resales of the same plan size, the seller's own recorded purchase price, and the newest Lennar closings in Terrace V and Terrace VI, adjusted for floor, membership, condition and furnishings.
Terrace resales mostly close below the owner's purchase price because Lennar kept closing brand-new Terrace V and Terrace VI units at lower prices while earlier owners were reselling: of 21 Terrace resales in the last twelve months that we paired with the unit's earlier recorded sale, 19 closed below it, one matched it and one gained, at a median change of minus 10.2 percent.
Data updated: October 2026 (Collier County recorded qualified sales through 11 August 2026)
For a buyer, that history is negotiating information. The seller's recorded purchase price is a public record, and so is every Lennar closing in the same building. A buyer comparing a three-year-old resale with a new unit that closed for less, with a builder warranty attached, will discount the resale, and appraisers do the same.
| Prior sale | Prior price | Resale | Resale price | Change | Building and association |
|---|---|---|---|---|---|
| 30 Nov 2022 | $258,000 | 26 Sep 2025 | $245,000 | minus 5.0% | 6034 National Blvd, Terrace I |
| 30 Nov 2022 | $265,000 | 29 Oct 2025 | $212,000 | minus 20.0% | 6034 National Blvd, Terrace I |
| 28 Feb 2022 | $236,000 | 2 Dec 2025 | $230,000 | minus 2.5% | 6046 National Blvd, Terrace I |
| 25 Apr 2025 | $279,000 | 19 Dec 2025 | $255,000 | minus 8.6% | 5527 Double Eagle Cir, Terrace V |
| 30 Nov 2022 | $280,000 | 8 Jan 2026 | $267,500 | minus 4.5% | 6034 National Blvd, Terrace I |
| 30 Nov 2021 | $230,000 | 29 Jan 2026 | $210,000 | minus 8.7% | 6058 National Blvd, Terrace I |
| 24 May 2024 | $321,000 | 12 Feb 2026 | $260,000 | minus 19.0% | 5629 Double Eagle Cir, Terrace IV |
| 30 Nov 2022 | $260,000 | 18 Feb 2026 | $240,500 | minus 7.5% | 6034 National Blvd, Terrace I |
| 30 Nov 2021 | $233,000 | 24 Feb 2026 | $246,000 | plus 5.6% | 6058 National Blvd, Terrace I |
| 30 Nov 2021 | $231,000 | 25 Feb 2026 | $210,000 | minus 9.1% | 6058 National Blvd, Terrace I |
| 7 Apr 2022 | $258,000 | 27 Feb 2026 | $225,000 | minus 12.8% | 6046 National Blvd, Terrace I |
| 28 Feb 2022 | $256,000 | 12 Mar 2026 | $230,000 | minus 10.2% | 6046 National Blvd, Terrace I |
| 30 Nov 2023 | $302,000 | 16 Mar 2026 | $269,000 | minus 10.9% | 5715 Double Eagle Cir, Terrace III |
| 16 Mar 2022 | $289,000 | 24 Mar 2026 | $240,000 | minus 17.0% | 6046 National Blvd, Terrace I |
| 9 Dec 2022 | $263,000 | 28 Mar 2026 | $232,000 | minus 11.8% | 6034 National Blvd, Terrace I |
| 2 Dec 2025 | $230,000 | 8 Apr 2026 | $230,000 | 0.0% | 6046 National Blvd, Terrace I |
| 2 Jul 2024 | $267,000 | 13 Apr 2026 | $245,000 | minus 8.2% | 5629 Double Eagle Cir, Terrace IV |
| 28 Feb 2023 | $265,000 | 28 May 2026 | $234,000 | minus 11.7% | 5835 Double Eagle Cir, Terrace II |
| 29 Aug 2024 | $280,000 | 28 May 2026 | $221,000 | minus 21.1% | 5583 Double Eagle Cir, Terrace V |
| 20 Jun 2024 | $258,000 | 29 May 2026 | $225,000 | minus 12.8% | 5629 Double Eagle Cir, Terrace IV |
| 23 May 2024 | $268,000 | 25 Jun 2026 | $210,000 | minus 21.6% | 5629 Double Eagle Cir, Terrace IV |
Source: Collier County Property Appraiser, 2026 tax roll data files, each resale paired with the same unit's previous qualified sale. The one gain was a Terrace I unit bought from Lennar in November 2021 at $233,000; the one unchanged pair is a Terrace I unit that sold twice in the window at $230,000. The steepest losses, minus 21.1 and minus 21.6 percent, were units bought new in 2024 and resold in mid-2026 while Lennar was closing Terrace VI.
A seller's recorded price tells you how much room the seller has, not what the unit is worth. An owner who bought in 2021 near $230,000 can sell at today's median and break even; an owner who paid $280,000 or more in 2024 is already taking a loss at the median and may hold firm, or may be ready to close. We read the price, the purchase date and any recorded mortgage before we recommend an opening offer, and we never pay a seller's 2024 price because they paid it.
The Terrace resale that holds its value is the one that offers something a new Terrace VI unit did not: an upper floor, a Carolina end unit with more windows, a building Lennar's map labels golf, upgrades and furnishings, or an association that is already owner-controlled with its reserve study and insurance record in hand. Those are the features worth paying for, and the ones we check before we agree that an asking price is fair.
Terrace Condominiums at The National recorded 22 resales in twelve months at a $231,000 median, and 19 of 21 paired resales closed below the seller's earlier price. McGreevy and Comisar, Top 1% Real Estate Agents Nationally Since 2008, build each Terrace offer from the unit's own building, plan and recorded history.
Only a resale. lennar.com showed the Terrace Condominiums collection as sold out on 23 September and again on 1 October 2026, with each plan page reading "This collection is sold out", and the newest Lennar Terrace closing in the county's August 2026 extract was recorded on 11 August 2026. Every Terrace condo for sale from here is an owner's resale.
Some Ave Maria town pages written earlier in 2026 still describe Terrace as selling; the dated builder page is the governing fact. Lennar's sellout changes three things for a buyer. There is no builder sales center to compare against, so the resale band and Lennar's recorded closings become your reference points. There is no builder warranty to buy into, so a full inspection period matters more. And the last Lennar association, Terrace VI, is still run by Lennar's officers until turnover.
| Question | Lennar's 2026 Terrace closings | A Terrace resale today |
|---|---|---|
| Price signal | 45 builder-direct closings in 2026 at a $199,000 median; Building 36 first sales at a $195,000 median | 22 resales in 12 months at a $231,000 median, $210,000 to $269,000 |
| Who writes the contract | Lennar, on its own form | Usually the Florida Realtors and Florida Bar AS IS contract |
| Cancellation right | Developer contract voidable for 15 days under s. 718.503(1) | Resale contract voidable by you by written notice within 7 days under s. 718.503(2) |
| Warranty | Limited one-year workmanship, two-year mechanical and seven-year structural, per Lennar's features list | None from the seller unless you buy a home warranty; ask what, if anything, of Lennar's original coverage still applies |
| Board | Terrace VI officers are Lennar staff | Terrace I to V list non-Lennar officers on their 2026 annual reports |
| One-time charges | $3,750 on the Terrace VI schedule ($1,000 builder, $250 master, $2,500 owners association) | Set by each association's documents and shown on the estoppel; not published for resales |
| What you can read | Lennar's schedule and a new association with no history | Budgets, minutes, insurance and the reserve study record of an operating association |
Terrace VI covers Buildings 37 and 36. Building 37 is 5491 Double Eagle Circle; Building 36 was added by a phase amendment recorded on 10 June 2026 (Official Records Book 6597, Page 1151) and was not yet addressed on the 2026 roll. Terrace VI's 2026 annual report lists Lennar staff at Lennar's Fort Myers office as its officers, so a Terrace VI buyer is buying into a developer-controlled association. Florida requires a turnover inspection report for each building three stories or higher before Lennar hands control to owners, and owners gain board seats on the statutory triggers in section 718.301. We ask about the turnover timeline before you offer.
The building, association and floor plan decide most of what a Terrace condo costs to own and how easily it resells: Terrace I to VI each set their own condo assessment, manager and rules, Lennar's map labels most buildings golf or non golf, and every building holds the same mix of 8 Arbor, 16 Birkdale and 6 Carolina homes across four floors.
| Association | Lennar buildings | Addresses | Units | Manager (2026 annual report) | Board (2026 Sunbiz) | Lennar map label | FEMA letter |
|---|---|---|---|---|---|---|---|
| Terrace I | 3, 4, 5 | 6058, 6046 and 6034 National Blvd | 90 | Cambridge Management | owner-controlled | no label | 21-04-0744A |
| Terrace II | 46, 47 | 5807 and 5835 Double Eagle Cir | 60 | Cambridge Management | owner-controlled | G (golf) | 22-04-3888A |
| Terrace III | 44, 45 | 5715 and 5749 Double Eagle Cir | 60 | Tropical Isles Management Services | non-Lennar officers; confirm turnover | G (golf) | 22-04-3888A |
| Terrace IV | 42, 43 | 5629 and 5651 Double Eagle Cir | 60 | Cambridge Management | owner-controlled | G (golf) | 23-04-2433A |
| Terrace V | 38, 39, 41 | 5527, 5555 and 5583 Double Eagle Cir | 90 | Tropical Isles Management Services | non-Lennar officers; confirm turnover | G (golf) | 23-04-2433A |
| Terrace VI | 36, 37 | 5491 Double Eagle Cir, and Building 36 not yet addressed on the roll | 60 | Tropical Isles Management Services | Lennar-controlled | NG (non golf) | 23-04-2433A (Building 37) |
Sources: Collier County Property Appraiser 2026 tax roll data files; Florida Division of Corporations (Sunbiz) 2026 annual reports; Lennar's site map titled "Golf and Non Golf", file dated 12 November 2024, which Lennar marks as conceptual; FEMA Map Service Center. Our Terrace Condominiums at The National guide carries each association's declaration book and page and its state project number.
| Plan | Beds and baths | Heated sq ft | Den | Per building | Resales, last 12 months | Resale median |
|---|---|---|---|---|---|---|
| Arbor | 2 bed, 2 bath | 1,120 | No | 8 | 2 | $220,000 |
| Birkdale | 2 bed, 2 bath | 1,154 | No | 16 | 15 | $230,000 |
| Carolina | 2 bed, 2 bath | 1,301 | Yes, Lennar says it "can also double as a bedroom" | 6 | 5 | $260,000 |
Every Terrace home is single-level, with a lanai and one covered carport space, reached by one Schindler hydraulic elevator per building according to the state's elevator permit files. The Carolina sits only at the two ends of floors one to three; the fourth floor holds six homes and no Carolina. Plan names by position are our reading of the county sizes against Lennar's published sizes, since Lennar does not publish a unit-by-unit plan list.
The Birkdale is the workhorse of the resale market: 15 of the 22 resales in the last twelve months were Birkdale-size units, at a $230,000 median and a $210,000 to $246,000 range. Terrace I's three buildings on National Boulevard supplied most of them. The two Arbor-size resales recorded a $220,000 median, but two sales are too few to price from alone.
The Carolina's 1,301 square feet, den and end-unit windows carried a $260,000 resale median on 5 sales, from $240,000 to $269,000. The highest Terrace resale in the window was a Carolina-size home at 5715 Double Eagle Circle in Terrace III at $269,000, recorded on 16 March 2026. In January 2022 a Lennar representative said the third- and fourth-floor condos and the Carolina end units tended to sell first.
Terrace I, II and IV list non-Lennar officers in care of Cambridge Management on their 2026 annual reports; Terrace III and V list non-Lennar officers in care of Tropical Isles, though their turnover dates are not in the public record we read. An owner-controlled association has a budget history, minutes and an insurance record you can read. A Lennar-controlled one, Terrace VI, has a shorter record and a turnover still ahead.
Lennar's 2024 site map labels Terrace II to V buildings golf and Terrace VI non golf, and Terrace I sold in 2021 and 2022 when Lennar described all its condos as including a bundled golf membership. The golf club estoppel confirms the class of a specific unit. The golf section below explains why the map alone is not proof.
The Terrace I and Terrace VI declarations allow whole-unit leases of at least 30 days, no more than 12 leases a year, with no subleasing. That suits a seasonal owner who rents by the month in the off-season; it rules out nightly or weekly rentals. Terrace II to V each have their own declaration, which we read for the unit you choose.
Ask for everything section 718.503(2) of the Florida Statutes requires a Terrace resale seller to deliver: the declaration, articles, bylaws and rules, the annual financial statement and budget, the most recent structural integrity reserve study or a statement that none is complete, any milestone inspection summary, any turnover inspection report, the frequently asked questions sheet and the governance form.
Then use the time the statute gives you. A resale contract that complies with section 718.503 carries a legend in conspicuous type making it voidable by the buyer by written notice within 7 days, a window the statute counts from your signing and your receipt of the current documents; a contract that does not comply is voidable by the buyer at any time before closing (s. 718.503, Florida Statutes). Seven days is not long to read a declaration of more than ninety pages, a budget and a reserve study, so we ask the seller's agent for the package before you sign, and we read it with you the day it arrives.
The legend makes the contract voidable by you, by written notice, inside the statutory window. You do not need a reason. The right is separate from the inspection period in a Florida Realtors and Florida Bar contract, which runs on its own clock, so we calendar both on the day you sign. If the package is incomplete, we ask in writing for the missing item, because a contract without the required documents and legend stays voidable until closing.
An estoppel certificate is the association's signed statement of what the unit owes. A Terrace purchase usually needs one from the Terrace condominium association, one from The National at Ave Maria Property Owners Association, one from the Ave Maria Master Association and, for a golf-membership unit, one from The National Golf and Country Club at Ave Maria Golf Club, Inc.
For the condominium association, section 718.116(8) requires the certificate within 10 business days of a written request; it is effective for 30 days if delivered electronically or by hand and 35 days by mail. The fee is capped at $250 when nothing is delinquent, plus up to $100 for delivery within three business days and up to $150 more if the account is delinquent, with the caps adjusted every five years for inflation, and no fee may be charged if the certificate is late (s. 718.116, Florida Statutes). The owners association and master association issue theirs under section 720.30851 (Florida Statutes).
The estoppel matters to you because Florida makes a new owner jointly and severally liable with the previous owner for all unpaid assessments that came due up to the transfer of title (s. 718.116(1)). Cambridge-managed associations (Terrace I, II and IV) take orders through HomeWiseDocs (Cambridge Management, estoppels); Tropical Isles (Terrace III, V and VI) lists its office and phone on its website.
Owners may inspect association records, and the association must make them available within 10 working days of a written request; if it does not, the owner is entitled to minimum damages of $50 a calendar day for up to ten days, starting on the eleventh working day (s. 718.111, Florida Statutes). Associations of 25 or more units, which includes all six Terrace associations, must post the declaration, bylaws, rules, budgets, financial reports, structural integrity reserve studies and inspection reports on a website or app. As a buyer you are not yet an owner, so we ask the seller to request what the package leaves out.
Reviewing a Terrace disclosure package? Call Marc at (239) 287-5873 or see how we represent Terrace buyers. Selling a Terrace unit first? Get a free Terrace condo valuation or call Jesse direct at (239) 898-6072.
Florida's condominium safety laws reach every Terrace building because each is four habitable stories: the association must complete a structural integrity reserve study (SIRS) at least every ten years and fund the reserves it identifies, and each building needs a milestone inspection once it reaches 30 years. For a buyer, the study and the reserves are part of the price.
None of this is unusual for a four-story Florida condominium, and none of it implies a problem at Terrace. The statutes simply make the building's long-term costs visible, and a buyer's lender reads them. We do not describe what any Terrace association's reserve study or inspection records contain; those are association records, and the steps below tell you how to get them.
A residential condominium association "must have a structural integrity reserve study completed at least every 10 years after the condominium's creation for each building on the condominium property that is three habitable stories or higher in height" (s. 718.112, Florida Statutes 2026). The study covers the roof, the structure and load-bearing walls, fireproofing and fire protection, plumbing, electrical systems, waterproofing and exterior painting, windows and exterior doors, and other items over $25,000 whose failure would affect those. It "is based on a visual inspection of the condominium property." Within 45 days of receiving the study, the association files a completion statement with the state.
After 31 December 2024, a unit-owner-controlled association required to obtain a SIRS may not vote to provide no reserves or less reserves for the study's items, and a developer-controlled association may not vote to waive or reduce reserve funding. In plain terms, the reserve line in the budget follows the study, not a vote. A buyer comparing two Terrace units in different associations is comparing two reserve schedules, and the one with fully funded reserves may carry a higher assessment and a lower risk of a special assessment.
Condominium buildings three habitable stories or more must have a milestone inspection "by December 31 of the year in which the building reaches 30 years of age, based on the date the certificate of occupancy for the building was issued, and every 10 years thereafter"; the local building official may set 25 years where conditions such as proximity to salt water require it (s. 553.899, Florida Statutes 2026). Phase one is a visual examination by a licensed architect or engineer; phase two follows only if substantial structural deterioration is found. Terrace buildings were completed from 2021 to 2026, so the first milestone falls around the 2050s, depending on each building's certificate of occupancy.
Before a developer turns over control of an association, it must have a turnover inspection report for each building three stories or higher (s. 718.112(2)(g) and s. 718.301(4)(p)). That applies today to Terrace VI, whose 2026 officers are Lennar's team. If you buy in Terrace VI, ask whether the report is complete and when turnover is expected; once it exists, a resale seller must include it in the disclosure package.
The Florida Division of Condominiums publishes SIRS reporting databases for submissions before July 2025 and from July 2025, linked from its SIRS reporting page. Search by the Terrace project numbers PR76949 (Terrace I), PR77217 (II), PR77302 (III), PR77341 (IV), PR77481 (V) and PR77571 (VI). The state notes that only complete reporting-form submissions are displayed, so a missing entry is a question for the association, not proof of anything.
Weighing a Terrace building's reserves? Call Marc at (239) 287-5873 or see how we represent Terrace buyers. Selling a Terrace unit first? Get a free Terrace condo valuation or call Jesse direct at (239) 898-6072.
At Terrace the condominium association insures the building as originally built under a master policy paid through the condo assessment, and you insure the interior finishes, contents, liability and loss assessments under an HO-6 unit-owner policy. Florida law draws that line, and the Terrace VI fee schedule confirms building insurance sits in the condo assessment.
Every condominium association "shall have adequate property insurance", which may be based on replacement cost set by an independent appraisal at least once every three years. The master policy covers the condominium property as originally installed and must exclude personal property in the unit, floor, wall and ceiling coverings, electrical fixtures, appliances, water heaters, water filters, built-in cabinets and countertops, and window treatments, all of which are the owner's responsibility. The board sets the deductibles at a noticed board meeting and may also buy flood insurance for the property (s. 718.111, Florida Statutes 2026). While a developer controls the board, failing to keep adequate insurance is a breach of fiduciary duty by the developer-appointed directors unless best efforts are shown.
A Florida unit-owner policy "must include at least $2,000 in property loss assessment coverage" for assessments arising from one direct loss to association property, with a deductible of no more than $250 on that coverage, and it is excess over any other policy covering the same property (s. 627.714, Florida Statutes 2026). The $2,000 is a floor, not a recommendation. Ask the association for its current master-policy deductible and size your loss assessment coverage to it, because a loss inside the master policy's deductible can come back to owners as a special assessment.
Citizens Property Insurance's flood requirement does not apply to policies written on a condominium unit-owner form, and a single condominium unit with a dwelling and contents replacement cost of $700,000 or more is not eligible for Citizens personal lines coverage. At the association level, Citizens treats a condominium as ineligible for its commercial residential coverage if 50 percent or more of the units are rented more than eight times a year for periods under 30 days (s. 627.351, Florida Statutes 2026); the 30-day minimum lease in the Terrace declarations we read keeps short-stay renting out of that test. Citizens asks for a milestone inspection report on condominium buildings three or more stories and at least 30 years old (Citizens bulletin, November 2024); no Terrace building is near that age.
Get at least two HO-6 quotes with the building's year built, its concrete block and stucco construction, its impact windows and doors and the FEMA letter number in hand, and ask the agent to quote loss assessment coverage at the association's deductible. Which carrier insures each Terrace association, and at what premium, is not published, so we ask for the association's insurance summary as part of the document checklist.
Comparing HO-6 quotes for a Terrace unit? Call Marc at (239) 287-5873 or see how we represent Terrace buyers. Selling a Terrace unit first? Get a free Terrace condo valuation or call Jesse direct at (239) 898-6072.
Usually, if the association's budget, reserves and repair record pass the lender's condominium project review. Fannie Mae treats a project that needs critical repairs as ineligible, including unfunded repairs over $10,000 per unit due within 12 months, and in a full review expects reserves of at least 10 percent of the budget or a qualifying reserve study. Freddie Mac has a parallel rule.
That review looks at the association, not at you, so two identical Terrace units in different associations can have different financing outcomes. Cash buyers skip the review, which is one reason cash offers often look stronger to a Terrace seller. Project approval status for each Terrace association is not published, so we confirm it with your lender early.
Fannie Mae's Selling Guide, section B4-2.2-02 on the full review process, asks that the association budget fund "replacement reserves for capital expenditures and deferred maintenance that is at least 10% of the budget", or lets the lender rely on a reserve study completed or updated within three years by a qualified independent third party showing funded reserves meet its recommendations (Fannie Mae Selling Guide B4-2.2-02). Lenders also review structural or mechanical inspection reports completed within three years and any special assessments: their purpose, amount and status.
Section B4-2.1-03 lists ineligible projects. "Projects in need of critical repairs are those needing repairs or replacements that significantly impact the safety, soundness, structural integrity or habitability of the project's building(s)", including failed mandatory structural inspections and "any unfunded repairs costing more than $10,000 per unit that should be undertaken within the next 12 months" (Fannie Mae Selling Guide B4-2.1-03). A building with unfunded critical repairs can make every unit in it temporarily ineligible for a conventional loan.
Freddie Mac likewise treats a condominium project "in need of Critical Repairs" as ineligible (Guide Section 5701.3(n)), and on 29 July 2023 it updated a Condo Project Advisor message to flag projects that may need critical repairs (Freddie Mac).
We send your lender the budget, the reserve schedule, the reserve study status, the master insurance summary, any special assessment notice and the association's manager contact in the first days of the contract, so the project questionnaire is not the reason a closing slips. For down payment help, the Florida Housing Finance Corporation's homebuyer programs work through participating lenders, which confirm condominium eligibility.
The only published Terrace fee schedule is Lennar's 2026 schedule for Terrace VI, dated 30 December 2025: $9,374 a year in association charges, or $781.17 a month, plus $1,792.44 a year in Ave Maria Stewardship Community District charges on the tax bill, for $930.54 a month all in. Terrace I to V budgets are not published, and the estoppel shows a specific unit's figure.
The figures below are Lennar's "Schedule of Unit Owner's Assessments" for Terrace VI, Buildings 37 and 36, non golf, covering 1 January to 31 December 2026, a Lennar Homes, LLC document. Each line is the schedule's own figure; the all-in line is our arithmetic.
| Line (2026, non golf) | Annual | What the schedule says it covers |
|---|---|---|
| Ave Maria Master Association | $812.00 | common area maintenance |
| The National at Ave Maria Property Owners Association | $3,928.00 | bulk basic cable, common area maintenance, gated access control services and maintenance of amenities |
| Terrace VI condominium assessment | $3,884.00 | reserves, building maintenance, water and sewer, trash collection, building insurance, janitorial services and landscaping maintenance |
| Club food and beverage minimum | $750.00 | non-alcoholic restaurant minimum, billed for any shortfall at fiscal year end |
| Association charges, total | $9,374.00 ($781.17 a month) | |
| Stewardship District debt service (tax bill) | $950.46 | collected on the property tax bill, not by any association |
| Stewardship District operations and maintenance (tax bill) | $841.98 | collected on the property tax bill |
| All-in, per year (our arithmetic) | $11,166.44 ($930.54 a month) |
The schedule's printed quarterly figure for the owners association does not reconcile with its own annual figure, so we publish only the annual and monthly totals. The $950.46 debt line matches the Stewardship District's own bond document, which ties The National to its Series 2021 (Ave Maria National Project) bonds (AMSCD Limited Offering Memorandum, 2022).
No 2026 budget or fee schedule for Terrace I, II, III, IV or V is published by Lennar, the associations or their managers, and budgets are not recorded with the Clerk. Each association manages more than 25 units, so Florida law requires it to post its budget on a website or app (s. 718.111(12)(g)). Terrace I to V carry different insurance, reserve and maintenance histories from the newest Terrace VI buildings, so their condo assessments can differ; the owners association, master association, club and district lines are community-wide. We ask for the current budget and the estoppel before you offer, not after.
On 1 October 2026 the lennar.com Terrace collection page carried an "approximate HOA fees" field of $911.42 a month and an "approximate special assessment fees" field of $1,792.44 (Lennar, Terrace Condominiums). The district figure matches the dated schedule exactly; the $911.42 is $130.25 above the schedule's $781.17 and is not explained on the page. We budget from the dated schedule and the unit's estoppel, and treat the website field as a question to ask.
Lennar's Terrace VI schedule listed one-time charges at a Lennar closing of $3,750: a $1,000 builder fee, a $250 master association working capital contribution and a $2,500 property owners association capital contribution. Whether any capital contribution or transfer charge applies on a resale is set by each association's governing documents and appears on the estoppel; it is not published for resales, so we do not assume one.
Cambridge Management manages Terrace I, II and IV and Tropical Isles Management Services manages Terrace III, V and VI, per each association's 2026 annual report. ICON Management Services, a Troon company, manages The National's property owners association and golf club and runs the CINC WebAxis owner portal (CINC WebAxis registration guide). Troon acquired ICON on 17 May 2022 (Club and Resort Business).
Budgeting for Terrace fees? Call Marc at (239) 287-5873 or see how we represent Terrace buyers. Selling a Terrace unit first? Get a free Terrace condo valuation or call Jesse direct at (239) 898-6072.
Golf at Terrace depends on the building and the year Lennar sold the unit. Lennar's 2024 site map labels Terrace II to V buildings golf and Terrace VI non golf, and Terrace I sold in 2021 and 2022 when Lennar said all its condos included a bundled golf membership. The golf club estoppel for the specific unit is the only proof a buyer should accept.
The 2026 golf dues for a golf-membership Terrace unit are not published: no golf-version Terrace fee schedule and no club budget is posted. Whether a social unit can add golf, and at what cost, is also not published. Golf and social memberships run through a separate corporation, The National Golf and Country Club at Ave Maria Golf Club, Inc., so we ask the club for its schedule for the address you are considering and tell you before you offer.
Ask for the golf club estoppel on the unit early in the contract, alongside the condominium and owners association estoppels. It shows the unit's membership class and any dues owed. If a listing says "golf membership included", we treat it as a claim until the estoppel confirms it.
Every Terrace owner reaches the 16,922-square-foot clubhouse that opened on 24 March 2025, with The Hammock and Champions Table for dining, a 6,446-square-foot fitness and spa wing and a lagoon-style pool (Clive Daniel Hospitality). The racquet center runs eight pickleball courts, six tennis courts and two bocce courts from 7 AM to 9 PM; residents book seven days ahead and get ten complimentary guest passes a year, then $10 per guest per hour (racquet sports FAQs). The 18-hole Gordon Lewis course plays from 4,546 to 7,309 yards at par 72 (scorecard).
The recorded Terrace I and Terrace VI declarations set the same core rules: whole-unit leases of at least 30 days, no more than 12 leases a year and no subleasing; up to three dogs or cats per unit with no more than two dogs; no commercial vehicles, campers or boats; no barbecue grills; and no penetration of the post-tension concrete slabs without board permission.
We read the rule sections of two of the six declarations in the Collier County Clerk's public image viewer on 1 October 2026: Terrace I (Official Records Book 6020, Page 1115) and Terrace VI (Official Records Book 6474, Page 1560). Terrace II, III, IV and V each have their own recorded declaration (Book 6215, Page 191; Book 6271, Page 1127; Book 6325, Page 3023; and Book 6385, Page 1687). We do not quote their rule sections here, and for a unit in those associations, its own declaration and rules govern and arrive in the disclosure package.
Terrace I (Book 6020, Page 1141) and Terrace VI (Book 6474, Page 1587) read: "Each lease must be for a minimum period of thirty (30) days. No Living Unit may be rented or leased more than twelve (12) times per year. No subleasing or assignment of lease rights by the tenant is permitted." Only the entire unit may be rented, leases must be in writing on association-approved forms, the association may charge a reasonable background-check fee and may require a security deposit of up to one month's rent, and the owner is jointly and severally liable with the tenant for damage.
Both declarations allow up to three animals per unit, which may only be domestic dogs or cats, with no more than two dogs, plus fish and up to two domestic birds kept indoors (Terrace I, Book 6020, Page 1142; Terrace VI, Book 6474, Page 1588). Pets are leashed on a lead of no more than six feet on common elements and may not be left unattended on balconies or patios unless enclosed. Breeds prohibited by county or other ordinance are barred, the association may prohibit other breeds it considers dangerous, and reptiles, wildlife, amphibians, poultry and livestock are not allowed. An owner may provide in a lease that the tenant may not keep pets.
Exterior parking is for non-commercial automobiles with current passenger registration, owners may not park in guest spaces, and commercial vehicles, campers, motor homes, trailers, boats and boat trailers are barred outside board-designated service periods; pick-up trucks and vans up to three-quarter ton and under 19 feet in daily use are not treated as commercial. Barbecue grills are prohibited anywhere on the condominium, bicycles may not be stored visibly on balconies or in lobbies and corridors, and awnings, canopies and shutters need board approval, with hurricane shutters built to board specifications.
The Terrace I declaration states that nothing may penetrate the post-tension concrete slabs without board permission, which may be withheld for any reason, and gives as an example that units are not designed for ceiling fans, soffits or ceiling lighting beyond the original construction; the owner indemnifies the association for improper penetration (Book 6020, Page 1142). If you plan to remodel a Terrace unit, price the plan around that rule and ask the board in writing before you commit to anything that touches a ceiling or floor.
The Clerk's index through 1 October 2026 shows only Lennar's phase amendments for Terrace I and Terrace VI, with no owner-voted amendment to Section 18. Associations can amend declarations and adopt rules, so the documents delivered under section 718.503 before closing are the ones that bind you.
FEMA's 2012 flood map draws the Terrace buildings in Zone AH or AE, but FEMA letters issued from 2020 to 2023 remove each of the thirteen addressed Terrace buildings from the high-risk Special Flood Hazard Area. Portions of each tract remain in it, and a lender may still require flood insurance, so a Terrace buyer hands the letter number to the lender and insurer before the inspection period ends.
We queried FEMA's National Flood Hazard Layer at seven Terrace building points on 1 October 2026 (FEMA NFHL map service) and downloaded every Letter of Map Revision based on Fill (LOMR-F) that names a Terrace building from FEMA's Map Service Center.
| Building point | Association | Effective FIRM zone | FIRM panel | Panel effective |
|---|---|---|---|---|
| 6034 National Blvd | Terrace I | AH | 12021C0270H | 16 May 2012 |
| 6058 National Blvd | Terrace I | AH | 12021C0270H | 16 May 2012 |
| 5807 Double Eagle Cir | Terrace II | AH | 12021C0260H | 16 May 2012 |
| 5715 Double Eagle Cir | Terrace III | AH | 12021C0260H | 16 May 2012 |
| 5629 Double Eagle Cir | Terrace IV | AH | 12021C0260H | 16 May 2012 |
| 5555 Double Eagle Cir | Terrace V | AE | 12021C0260H | 16 May 2012 |
| 5491 Double Eagle Cir | Terrace VI | AE | 12021C0260H | 16 May 2012 |
The map predates construction, and the nearest base flood elevation line to Terrace I reads 21.0 feet (NAVD88).
| FEMA case | Letter date | Terrace buildings removed | Lowest adjacent grade (NAVD88) |
|---|---|---|---|
| 21-04-0744A | 22 Dec 2020 | 6058, 6046 and 6034 National Blvd, Terrace I | 22.5 ft |
| 22-04-3888A | 28 Jun 2022 | 5715 and 5749 Double Eagle Cir, Terrace III; 5807 and 5835 Double Eagle Cir, Terrace II | 22.5 to 23.2 ft |
| 23-04-2433A | 21 Mar 2023 | 5491, Terrace VI; 5527, 5555 and 5583, Terrace V; 5629 and 5651, Terrace IV | 22.8 to 23.2 ft |
Each letter finds the structure is not in the Special Flood Hazard Area, places it in Zone "X (shaded)", and notes that "portions of the property remain in the SFHA". The letters state that "the Federal mandatory flood insurance requirement does not apply. However, the lender has the option to continue the flood insurance requirement to protect its financial risk on the loan." FEMA's index shows the letters as not yet incorporated into a redrawn map, which is why the effective map still shows AH or AE under the buildings. The 2023 letter also lists 5479 Double Eagle Circle as Building 36, which we cite for Terrace VI's second building with that caveat.
Do not let anyone describe a Terrace building as "Zone X" without the letter, and do not assume no flood insurance is needed. Send the case number for the building to your lender and insurance agent at contract. The flooding source on all three letters is ponding and overland flow, not coastal surge: Ave Maria is inland. Because the association may also buy flood coverage for the property under section 718.111(11), ask what the master policy carries before you price your own.
Checking a Terrace building's flood letter? Call Marc at (239) 287-5873 or see how we represent Terrace buyers. Selling a Terrace unit first? Get a free Terrace condo valuation or call Jesse direct at (239) 898-6072.
Terrace buildings were completed from 2021 to 2026, so the oldest went through Hurricane Ian in 2022 and Hurricane Milton in 2024. Ave Maria's developer reported only minor landscape damage town-wide after Ian, and Lennar built the buildings of concrete block and stucco with hurricane impact windows and sliding glass doors, to the modern Florida Building Code.
The National Weather Service recorded an 81 mph peak gust at the Immokalee WeatherSTEM station during Ian and estimated Collier County damage at $2.2 billion (NWS Miami, Hurricane Ian summary); Ave Maria's developer reported that the town "sustained minor landscape damages" (Ave Maria Development, October 2022). For Milton, NWS Miami records an estimated 85 percent of Collier County customers losing power, $280 million in property damage, 88 structures with major damage and 224 with minor damage (NWS Miami, Milton impact narratives), and in July 2026 the developer said Ave Maria "did not experience community-wide damage or disruption to essential services" (Ave Maria Development, July 2026). Those are the developer's statements, not measurements, and no Terrace-specific damage report was found.
On the Florida Building Code 8th Edition wind map, the Terrace site lies between the 150 mph and 160 mph design contours (UF GeoPlan wind speed maps), inside the wind-borne debris region the code draws at 140 mph and above, which is why impact-rated openings are required. For a buyer, the practical checks are the unit's window and door ratings for your HO-6 quote and the association's hurricane deductible.
Before a mortgage and your HO-6 policy, a Terrace VI condo bought at the $231,000 resale median carries about $1,142 a month on published figures: $781.17 in association charges, $149.37 for the Stewardship District's two tax-bill lines and about $212 in property tax at Lennar's approximate 1.1 percent rate. Your loan, insurance quote and any golf dues come on top.
| Monthly, illustrative, $231,000 purchase | Amount | Source |
|---|---|---|
| Association charges (Terrace VI, 2026, non golf) | $781.17 | Lennar's Terrace VI schedule, 30 December 2025 |
| Stewardship District debt and operations lines | $149.37 | $1,792.44 a year on the same schedule |
| Property tax at about 1.1 percent of price | about $212 | lennar.com "approximate tax rate" for the Terrace collection |
| Subtotal before loan and HO-6 | about $1,142 | our arithmetic |
| Principal and interest | depends on your rate and down payment | check Freddie Mac's weekly survey and your lender |
| HO-6 unit-owner policy | quote per unit | no published Terrace premium |
| Golf dues, if the unit carries golf | not published | golf club estoppel |
This is an illustration, not a quote. The 1.1 percent is Lennar's approximation, not a tax bill: Collier County taxes the unit on its assessed value, a homestead exemption lowers it for a permanent resident, and the district's lines sit on the same bill. Terrace I to V condo assessments differ from Terrace VI's, so we replace the first line with the unit's estoppel figure. Read the current tax bill for the specific unit before you budget; it shows both district lines.
A Terrace buyer financing a purchase usually pays the lender's fees, Florida's documentary stamp tax on the mortgage note, the intangible tax on the mortgage, the title insurance policies and prepaid insurance and taxes. In Collier County the buyer also customarily pays the owner's title policy and chooses the closing agent, though the contract controls. Cash buyers skip the loan-based items.
| Item | Rate | Who usually pays |
|---|---|---|
| Documentary stamp tax on the deed | $0.70 per $100 of price | Seller, by custom and contract |
| Documentary stamp tax on the mortgage note | $0.35 per $100 of the loan | Buyer |
| Intangible tax on the mortgage | 0.2 percent of the loan | Buyer |
| Owner's title insurance | promulgated rate: $5.75 per $1,000 to $100,000, then $5.00 per $1,000 to $1 million | Buyer, by Collier County custom; the contract controls |
| Condominium estoppel certificate | up to $250, plus up to $100 for three-day delivery | Set in the contract |
Sources: sections 201.02, 201.08 and 199.133, Florida Statutes; Florida Administrative Code Rule 69O-186.003; s. 718.116(8).
| $231,000 Terrace purchase | With an 80 percent loan | Cash |
|---|---|---|
| Loan amount | $184,800 | none |
| Note stamps, $0.35 per $100 of the loan | $647 | none |
| Intangible tax, 0.2 percent of the loan | $370 | none |
| Owner's title policy at the promulgated rate | $1,230 | $1,230 |
| Condominium association estoppel, at the $250 cap | as the contract assigns | as the contract assigns |
Lender fees, the appraisal, the inspection, prepaid HO-6 insurance and escrow for taxes and the district assessment come on top, along with the owners association, master association and golf club estoppels where the contract assigns them to you. Because Collier County custom puts the owner's title policy on the buyer, you also choose the title company, which is worth doing early so the estoppels are ordered on day one.
The Florida Housing Finance Corporation runs first-mortgage and down payment programs, including Hometown Heroes for eligible full-time workers of Florida employers, through participating lenders. Program funds and limits change, and condominium purchases carry their own lender requirements, so a participating lender confirms both eligibility and the Terrace association's project status.
Pricing your Terrace closing costs? Call Marc at (239) 287-5873 or see how we represent Terrace buyers. Selling a Terrace unit first? Get a free Terrace condo valuation or call Jesse direct at (239) 898-6072.
Since 17 August 2024, a buyer working with a Realtor signs a written buyer agreement before touring a home, the agreement states the agent's compensation as a specific amount or rate, and offers of buyer-agent compensation no longer appear in the MLS. Compensation is negotiable, and a seller can still agree to pay it as part of the deal.
The written agreement names the agent, the compensation and how it is paid, and the agent may not receive more than the agreed amount from any source (NAR, Written Buyer Agreements 101; NAR settlement FAQs). Under section 475.278 of the Florida Statutes, a Florida licensee works as a transaction broker unless you agree in writing to a single-agent relationship, and the brokerage relationship is disclosed before the agreement is signed (s. 475.278).
Many resale sellers still offer to pay a buyer's agent, and we confirm it and write it into your offer so you know before you sign. If a seller will not pay it, the agreement says what you owe, and we can ask for the amount as a seller credit instead. With Lennar sold out of Terrace, there is no builder registration to arrange; every Terrace purchase is a negotiation with an owner.
Terrace addresses are zoned for Ave Maria Elementary School, Corkscrew Middle School and Palmetto Ridge High School for the 2026 to 2027 school year, per Collier County Public Schools' own address register queried for all thirteen addressed Terrace buildings on 1 October 2026. For 2025 to 2026 the same addresses were zoned Estates Elementary with a rezoning flag to Ave Maria Elementary.
| School | Level | Address |
|---|---|---|
| Ave Maria Elementary School | Elementary, opened 11 August 2026 | 4050 Anthem Parkway, Ave Maria |
| Corkscrew Middle School | Middle | 1165 Oil Well Road, Naples |
| Palmetto Ridge High School | High | 1655 Victory Lane, Naples |
| Ave Maria Catholic Academy | Private, Pre-K to grade 12 | 4955 Seton Way, Ave Maria |
Sources: Collier County Public Schools address register, for example 6046 National Blvd; Ave Maria Elementary opening; Ave Maria Catholic Academy, renamed for 2026 to 2027 from Rhodora J. Donahue Academy (Diocese of Venice). Boundaries can change, so verify the address on the district's attendance boundaries locator.
Terrace is The National's lower-priced condominium: four stories with an elevator and a carport, 1,120 to 1,301 square feet, at a $231,000 twelve-month resale median, against Veranda's two-story buildings with garages at $309,000. Lennar's identical Terrace product at Heritage Landing in Punta Gorda recorded a $235,000 resale median for January to August 2026, against $232,000 at The National.
Data updated: October 2026 (Collier County recorded sales through 11 August 2026; Charlotte County recorded sales through 31 August 2026)
| Yardstick | Terrace at The National | Veranda at The National | Terrace at Heritage Landing |
|---|---|---|---|
| County | Collier | Collier | Charlotte |
| Stories | 4, with one elevator per building | 2, no elevator documented | not recorded in the county files |
| Plans | Arbor 1,120, Birkdale 1,154, Carolina 1,301 sq ft | Bromelia II 1,355, Diangelo II 1,366, Arabella II 1,569 sq ft | the same three Lennar plans and sizes |
| Units and associations | 420 in six (Terrace I to VI) | 256 in five county condominium names | 420 in six (Terrace I to VI) |
| Parking | one covered carport space | one-car garage | not recorded here |
| SIRS and milestone statutes | apply | do not apply (two stories) | apply |
| Recorded resales and median | 22 at $231,000 (Sep 2025 to Aug 2026); 17 at $232,000 (Jan to Aug 2026) | 17 at $309,000 (Sep 2025 to Aug 2026) | 27 at $235,000 (Jan to Aug 2026) |
Sources: Collier County Property Appraiser, 2026 tax roll data files; Charlotte County Property Appraiser data files as compiled for our Terrace Condominiums at Heritage Landing guide; Lennar plan pages; state elevator permit files. The two Terrace collections differ in club, county, school district and fee structure, so matching medians reflect the same product, not the same costs.
A buyer who wants the lower price into The National, values single-level living with an elevator, and is comfortable with an association that runs a high-rise-style reserve and inspection program should look at Terrace first, choosing the building, floor and plan deliberately.
A buyer who wants more square footage, a private garage and a two-story building outside the SIRS and milestone statutes should look at Veranda, accepting a higher entry price. A buyer who wants a yard and no building association should compare The National's single-family homes and Ave Maria's other villages, such as Maple Ridge, Avalon Park and, for age-restricted living, Del Webb Naples. Our guide to buying a home anywhere at The National covers every collection there.
The biggest advantages of a Terrace condo are the lowest entry price into The National's gated golf community, single-level living with an elevator, a building the association maintains and insures, and documented buyer leverage; the biggest drawbacks are falling resale prices since 2024, layered fees, one elevator per 30 homes, a carport rather than a garage, and condo-law paperwork every lender reads.
To see every Terrace condo for sale today, search our team's Ave Maria listings at DomainRealtyGroup.com or ask us for a custom Terrace search, which we send as soon as a matching unit lists. Because Lennar is sold out, every Terrace unit for sale is a resale listed by an owner, and we add the recorded history and building facts that a listing leaves out.
You can browse current Ave Maria listings on DomainRealtyGroup.com, our team's home search, and set up alerts there for new listings and price changes. For a short list built around your plan, floor, building and budget, use our contact form or reach Jesse direct at (239) 898-6072.
Seasonal buyers at Terrace should check four things: the declaration's leasing rules if you will rent in the off-season, how the building and your unit are protected while you are away, how a non-homestead tax bill works, and who checks on the unit. A Terrace condo suits lock-and-leave ownership because the association maintains, insures and cleans the building.
In Terrace I and Terrace VI, leases must run at least 30 days, no more than 12 a year, on association-approved forms, with an optional background check and a security deposit of up to one month's rent. That allows monthly seasonal renting, not nightly or weekly rentals. The original 2021 design made the bundled golf membership transferable to renters; the club's current transfer rule is not published, so ask before you price a rental.
Terrace windows and sliding doors are impact-rated, so there are no shutters to put up. The association controls the roof, the building envelope and the master insurance; you control the unit. Set the thermostat and humidity controls, arrange a home-watch visit after storms, and keep your HO-6 insurer's requirements for unoccupied periods in mind.
A seasonal Terrace condo has no homestead exemption, so it is taxed on its full assessed value, with the district's two lines on the same bill. If you later make Florida your permanent home, you can apply for homestead with the Collier County Property Appraiser by March 1 of the following year.
From the center of the Terrace collection, Ave Maria's Publix at 4975 Avila Avenue is about 2.0 miles and 8 minutes, I-75 at Immokalee Road about 23.4 miles and 40 minutes, the Naples Pier about 36.1 miles and an hour, and Southwest Florida International Airport about 36.7 miles and 59 minutes, off-peak, by our routing on 1 October 2026 with OpenStreetMap and the OSRM router.
Start a personalized Terrace buyer consultation with the buyer consultation form on this page or our contact form. We will send the current Terrace resales that fit your plan, floor and budget, the recorded history behind each one, the association and FEMA facts for each building, and the documents to request before you offer.
Sign a buyer agreement with us before your first showing so your representation is in place from the start, and we will read every unit's record before you walk in. Call Marc at (239) 287-5873, reach Jesse direct at (239) 898-6072, or see how we represent buyers.
If you own a Terrace condo you plan to sell, get a free Terrace condo valuation, read our guide to selling a Terrace condo at The National, or for any other home at The National see selling a home at The National and The National home valuation.
Marc Comisar is a top-reviewed Ave Maria buyer's agent and Jesse McGreevy is a top-reviewed Southwest Florida realtor; every review below is copied in full from our Google Business Profile, where you can read them all.
★★★★★ "We highly recommend Marc Comisar for your real estate needs. He was very knowledgeable. If he didn't know an answer, he would do research until he did. Marc is pleasant, timely, and listened to our wants and needs. He went above and beyond to make sure we found our forever home. Thank you, Marc!" Verified Google review
★★★★★ "Marc's knowledge of the Southwest Florida real estate market is unmatched. He took the time to understand exactly what I was looking for in a home and quickly identified properties that checked all my boxes." Verified Google review
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★★★★★ "Marc is one of the most down to earth realtors that really listens to your needs and is exceptional at finding the right house." Verified Google review
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These are the questions Terrace buyers ask us most, answered from the Collier County deed record, the recorded Terrace declarations, Lennar and club documents, FEMA's letters and Florida law. If yours is not here, use the buyer consultation form on this page or reach Jesse direct at (239) 898-6072.
Terrace resales recorded a $231,000 median across 22 sales from September 2025 to August 2026, from $210,000 to $269,000. Lennar's 63 builder-direct closings in the same window recorded a $205,000 median, and the two are separate markets.
The resale median by year moved from $304,000 in 2023 to $282,500 in 2024, $242,500 in 2025 and $232,000 in 2026 to date, on samples of 5 to 17 resales a year. Lennar's builder median fell from $280,000 in 2024 to $199,000 in 2026.
On the county record, largely yes for a prepared buyer: 19 of 21 paired resales closed below the seller's earlier price, at a median of minus 10.2 percent, and Lennar's lower 2026 closings sit in every comparable set.
No. lennar.com listed the Terrace collection as sold out on 23 September and 1 October 2026 (Lennar). Every Terrace purchase from here is a resale.
420, in fourteen four-story buildings of 30 homes each, governed by six associations, Terrace I to Terrace VI, per the Collier County Property Appraiser 2026 tax roll data files and the recorded declarations.
The Birkdale (1,154 square feet) is the most common and resold at a $230,000 median on 15 sales; the Carolina (1,301 with a den) at $260,000 on 5; the Arbor (1,120) at $220,000 on 2. Choose by space, then by floor and building.
Yes. Every Terrace home has two bedrooms and two baths on one level, and the Carolina adds a den that Lennar says can double as a bedroom.
Yes. The state's elevator permit files show one Schindler hydraulic passenger elevator per building, with four landings and 2,500-pound capacity (DBPR Elevator Safety).
Under section 718.503(2): the declaration, articles, bylaws and rules, the annual financial statement and budget, the most recent structural integrity reserve study or a statement that none is complete, any milestone summary and turnover inspection report, the frequently asked questions sheet and the governance form.
A compliant resale contract is voidable by you by written notice within 7 days under the statutory legend in section 718.503(2), and a contract without the required documents and legend stays voidable until closing.
A structural integrity reserve study is a visual-inspection-based study of the roof, structure, fire protection, plumbing, electrical, waterproofing, windows and doors, required at least every ten years for buildings three or more habitable stories. Every Terrace building needs one (s. 718.112).
Search the Florida Division of Condominiums' SIRS reporting databases by the project numbers PR76949 to PR77571. Only complete submissions are displayed, so ask the association about a missing entry.
By 31 December of the year the building reaches 30 years from its certificate of occupancy, so around the 2050s for buildings completed from 2021 to 2026, unless the local building official sets 25 years (s. 553.899).
It is an association's signed statement of what the unit owes. A Terrace purchase usually needs one each from the condominium association, The National's owners association and the Ave Maria Master Association, plus the golf club for a golf-membership unit.
For the condominium association, section 718.116(8) caps the fee at $250 when nothing is delinquent, plus up to $100 for three-day delivery and up to $150 more if the account is delinquent. The contract decides who pays.
Yes, jointly and severally with the seller for assessments that came due up to the transfer of title, under section 718.116(1). The estoppel shows what is owed, and it is paid at closing.
Lennar's 2026 Terrace VI schedule totals $781.17 a month in association charges, or $930.54 with the district's tax-bill lines. Terrace I to V figures are not published; the estoppel and the current budget show them.
On the Terrace VI schedule: reserves, building maintenance, water and sewer, trash collection, building insurance, janitorial services and landscaping maintenance.
Yes, the Ave Maria Stewardship Community District, an independent special district under Chapter 189, levies debt-service and operations assessments on the tax bill; for Terrace VI in 2026 they were $950.46 and $841.98 (s. 189.012).
It depends on the unit. Lennar's 2024 map labels Terrace II to V buildings golf and Terrace VI non golf, and Terrace I sold when Lennar described all condos as bundled golf. The golf club estoppel confirms a specific unit.
Not published. No golf-version Terrace fee schedule or club budget is posted, so we ask the club for the schedule that applies to the unit you are considering.
An HO-6 unit-owner policy for the interior, contents, liability and loss assessments. Florida requires at least $2,000 of loss assessment coverage, and you should size it to the association's master-policy deductible.
Yes. Section 718.111(11) requires adequate property insurance on the building as originally installed, and the Terrace VI schedule lists building insurance inside the condo assessment.
Usually, if the association passes the lender's project review. Fannie Mae treats projects needing critical repairs as ineligible and looks for reserves of at least 10 percent of the budget or a qualifying reserve study.
The effective FEMA map draws the Terrace buildings in Zone AH or AE, but FEMA letters from 2020 to 2023 remove each addressed building from the high-risk area; portions of each tract remain in it.
FEMA's letters say the federal mandatory purchase requirement does not apply to the removed structures and that a lender may still require it (FEMA LOMR-F 22-04-3888A). Ask your lender before you commit.
Yes, within the declaration: in Terrace I and Terrace VI, whole-unit leases of at least 30 days, no more than 12 a year, no subleasing (Section 18.9). Terrace II to V follow their own declarations.
In Terrace I and Terrace VI, up to three dogs or cats per unit, no more than two of them dogs, plus fish and up to two indoor birds (Section 18.13).
No. Section 18.3 of the Terrace I and Terrace VI declarations prohibits barbecue grills anywhere on the condominium.
Only with board permission. Section 18.14 of the Terrace I declaration bars penetrating the post-tension slabs without the board's approval and notes the units were not designed for ceiling fans or added ceiling lighting.
One covered carport space per unit, per Lennar's 2022 description and features list; owners may not park in guest spaces under Section 18.12.
Terrace I to V list non-Lennar officers on their 2026 annual reports; Terrace VI's officers are Lennar staff, so it is still developer-controlled until turnover under section 718.301.
No Lennar, club or recorded Terrace document we read describes Terrace as age-restricted, and The National runs a junior golf program, so buyers of any age can purchase.
For 2026 to 2027, Ave Maria Elementary, Corkscrew Middle and Palmetto Ridge High, per Collier County Public Schools' address register; verify with the district before you rely on it.
Yes. Lennar lists The National as gated, and the owners association assessment funds "gated access control services" on the Terrace VI schedule.
About 36 miles and an hour to the Naples Pier, and about 37 miles and an hour to Southwest Florida International Airport, off-peak.
In Collier County the buyer customarily pays for the owner's title policy and chooses the closing agent; the contract controls.
With a loan: note stamps of $0.35 per $100 of the loan, intangible tax of 0.2 percent of the loan, the owner's and lender's title policies, lender fees, prepaid insurance and taxes, and any estoppel fees the contract assigns to you.
Yes, with a Realtor. Since 17 August 2024 a written agreement stating the agent's compensation is required before touring.
It is negotiable. Many sellers still offer to pay it, and we write it into your offer. If a seller will not, your agreement says what you owe, and we can ask for it as a seller credit.
Allow for the 7-day disclosure window, the estoppels, which associations have 10 business days to issue, and your lender's project review. We order the estoppels and documents on day one so the closing date holds.
Start a Terrace buyer consultation so we can send the resales that fit your plan, floor and budget, with each unit's recorded history, association and FEMA letter.
A Terrace specialist knows which of the six associations sits behind each address, which buildings Lennar's map labels golf, which FEMA letter covers the building, what the seller paid and when, and what Lennar's final closings did to the comparables. That knowledge turns an asking price into a fair offer, and a disclosure package into a decision.
We tracked every recorded Terrace sale of the last twelve months and paired each resale with the unit's earlier price, and we read the Terrace I and Terrace VI declarations rule by rule. Our Terrace Condominiums at The National guide carries the full building, association and declaration record, our guide to The National covers the whole community, and our Ave Maria community guide covers the town.
Many of our buyers are moving within Southwest Florida or selling a Terrace unit to buy a larger home. Our guides to selling a Terrace condo at The National and what a Terrace condo is worth explain how we time the sale and the purchase together.
If you're searching for the best buyer's agent for Terrace Condominiums at The National, McGreevy and Comisar represent buyers across Ave Maria, Naples, Estero and Bonita Springs with honest market guidance, building-by-building research and partner-level negotiation. As the leaders of Domain Realty Group, our team has sold over $2.5 billion in real estate, and McGreevy and Comisar alone have over $900 million in personal sales.
The Terrace market record, last 12 months: we tracked 85 qualified Terrace sales in the Collier County deed record, 63 of them builder-direct at a $205,000 median and 22 resales at a $231,000 median, and paired 21 resales with the unit's earlier price, per the county file dated 29 August 2026.
Use the buyer consultation form on this page, our contact form, or reach Jesse direct at (239) 898-6072 or Marc at (239) 287-5873. Selling first? Get a free Terrace condo valuation.
Marc Comisar is a top-reviewed Ave Maria buyer's agent and Jesse McGreevy is a top-reviewed Southwest Florida realtor; you can read every review on our Google Business Profile. McGreevy and Comisar have represented buyers and sellers across Southwest Florida since 2008, and before writing this guide we read the Terrace declarations, the state's condominium and elevator files, FEMA's Terrace letters and every recorded Terrace sale.
Jesse McGreevy (Sales Associate) and Marc Comisar (Broker Associate) are licensed Florida REALTORS® with Domain Realty; Florida real estate licensure is regulated by the Florida Real Estate Commission (FREC). Florida license numbers: Jesse McGreevy SL3101296, Marc Comisar BK3060671.
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McGreevy and Comisar lead Domain Realty Group, a full-service Southwest Florida real estate team. Learn more about our team at DomainRealtyGroup.com. Read more about McGreevy and Comisar, see how we represent buyers, or contact us.
Every fact on this page traces to one of the primary sources below: the Collier County deed and tax record, recorded declarations, state and federal agencies, Florida law, the Ave Maria Stewardship Community District, the builder's own documents, The National's club records and local news. We do not cite real estate brokerage or listing sites. All sources were read on or before 1 October 2026 unless a publication date is shown.
These are the forms, statutes and reference files a Terrace buyer is most likely to need, each linked to the official source that publishes it: the State of Florida, the Stewardship District's underwriter, Florida Realtors, the federal government or The National's club.
Market data from the Collier County Property Appraiser 2026 tax roll data files (dated 29 August 2026, newest Terrace sale 11 August 2026), read 1 October 2026, Lennar's own published fee schedule and collection pages, and FEMA's flood letters. MLS figures were not available for this edition. Brokered by Domain Realty.