Monterra at Otay Ranch2018-02-13T12:57:10+00:00

Monterra at a Glance:

  • Up to 1,830 sq.ft.

  • Up to 4 Bedrooms

  • 3.5 Bathrooms

  • 2-Car Garage

  • Optional Flex Space (Residence 2 & 3)

Future Neighborhood

Cornerstone Communities’ Monterra at Otay Ranch will be a collection of 36 townhomes in Otay Ranch across from the Saburo Muraoka Elementary School.

The upscale three-story townhomes at Monterra will showcase rich exteriors influenced by Mission, Tuscan, or Craftsman architecture and are offered in 3 distinct floor plans. With the many wonderful interior and exterior combinations available you are sure to find one that fits the unique lifestyle and taste of you and your family.

Monterra will offer residents a variety of amenities that contribute to the small-town character of Otay Ranch. The award-winning trail system is designed to connect residential areas with the village activity center. Residents will love being within easy walking distance to excellent schools and nearby private parks with amenities such as playgrounds, picnic areas and grassy fields for play.

Residents will also enjoy full access to the nearby Village of Montecito Clubhouse. This impressive and innovative facility includes a resort-style swimming pool with beach entry and swimming lanes, children’s wading pool, lounge areas, and a spa. There is also a state-of–the-art fitness center, a multi-purpose clubroom, and full kitchen for member use. Other amenities include a fire pit, turf bocce ball courts, gas BBQ stations, and covered outdoor dining areas.

The Monterra at Otay Ranch community is projected to open in Summer 2018. First move-ins are projected to occur in Summer 2018. As with any new construction these dates are subject to change based on adjustments to the construction timeline.

There is no priority list for purchasing a home, please see the “Steps to Purchase” for further details. Also, please join our interest list and like our Facebook page so we can keep you updated on our progress.

Monterra at Otay Ranch will offer 36 three-story townhomes.

The homes at Monterra have a fenced entry courtyard.

Monterra Residence 2 – Up to 4 Bedrooms/Up to 3.5 Baths/Flex Space or Bed 4/2-car Garage – 1,560 sq.ft.

Monterra Residence 3 – Up to 4 Bedrooms/Up to 3.5 Baths/Flex Space or Bed 4/2-car Garage – 1,830 sq.ft.

Otay Ranch offers residents the quintessential southern California lifestyle defined by walkability and easy access to an extensive range of exciting amenities:

• Excellent school system within walking distance

• Brand new state-of-the-art elementary school

• Playgrounds with play equipment for various ages

• Montecito Private Swim Club with pools, spa, gym, club house, BBQ’s and bocce ball courts

• Pedestrian-friendly paths and trails

• Parks with recreational amenities

• Multi-purpose fields

• Picnic areas

• Comprehensive medical center

• Shopping & Dining

Total HOA dues will be approximately $295 per month at build-out. The HOA dues cover maintenance of the community amenities, common areas, recreational facilities and private alleys.

The tax rate for Monterra at Otay Ranch is projected to be 1.85%, which will include the Mello-Roos.

Currently our children are proposed to attend:

Saburo Maraoka Elementary (k-6) – Brand New School! – 1450 Santa Lucia Road – (619) 421-7080

Rancho Del Rey Middle (7-8) – 9/10 GreatSchools™ Rating – 1174 East J Street – (619) 397-2500

Olympian High School – 9/10 GreatSchools™ Rating – 1925 Magdalena Avenue – (619) 656-2400

If you are giving serious consideration to buying a home, then you will need to join the Monterra buyer list – which you can do by getting pre-qualified with our designated lender, CrossCountry Mortgage. The buyer list will start forming the month prior to the opening of the community.

Once you have been pre-qualified with CrossCountry Mortgage you can use the lender of your choice to finance your new home.

Steps to Purchase

Beginning a month prior to opening you may make an appointment with a Community Sales Agent. The agent will review the steps to purchase and give you a link to the Seller’s Designated Lender on-line application.

You will need to complete all the information in the application (for you and your spouse if purchasing together). If you are considering a purchase with someone other than your spouse, you will need to fill out two separate applications (one for each of you).

PLEASE NOTE: Earnest money deposit is $10,000. If you have chosen to use CrossCountry Mortgage to finance your new home the earnest money deposit is discounted to $5,000. You always have the option of using your choice of lenders to finance your new home.

You will need to email the following documents to CrossCountry Mortgage:

  • Official Bank statements for each account you have for the prior 2 months (all pages)
  • Pay-stubs covering the prior 30 days
  • Federal Tax Returns for the prior 2 years (including all schedules and attachments)
  • W-2s from the prior 2 years
  • Loan Worksheet Questionnaire (provided by sales agent)
  • Buyer’s Certification and Authorization (provided by sales agent)

You will also need to complete the Buyer’s Profile Form and email it to the sales office. Upon receipt of all your documents the pre-qualification will commence and you will be kept updated on the progress.

PLEASE NOTE: Earnest money deposit is $10,000. If you have chosen to use CrossCountry Mortgage to finance your new home the earnest money deposit is discounted to $5,000. You always have the option of using your choice of lenders to finance your new home.

CrossCountry Mortgage is the designated lender of Cornerstone Communities. The relationship with CrossCountry Mortgage allows Cornerstone to offer home buyers numerous benefits and favorable financing solutions. Learn more about CrossCountry Mortgage here.

Residence 2

 

Residence 3

 

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