Century Homebuilders Team and Treo Group acquired an 11.6-acre growth web page in Homestead.
The builders paid out $10.5 million, or virtually $906,000 for every acre, for the land in between South Homestead Boulevard and South Krome Avenue, and among Southeast Fourth and Sixth streets, in accordance to documents and serious estate databases Vizzda. The site’s handle is 503 South Krome Avenue,
Armando Bravo, through an affiliate, bought the land for almost double his buy cost two many years back. Bravo, a south Miami-Dade real estate trader, bought the residence for $5.4 million in late 2021, data display.
Coral Gables-based mostly Century Homebuilders and Miami-centered Treo took out a $4.2 million financial loan from Bravo’s affiliate for the order, according to Vizzda. It matures in 2027.
The development corporations have not hammered down a distinct job system, Sergio Pino, of Century Homebuilders, informed The Genuine Offer. “We saw an option at a great site and are now determining what to do with it,” he mentioned.
The web-site purchase is not Century Homebuilders and Treo’s 1st financial investment in south Miami-Dade County. In Florida Metropolis, the improvement firms are doing the job on a 16-acre mixed-use job on the website of the previous Florida Metropolis Campsite & RV Park at 601 Northwest 3rd Avenue. The companies, which have since included an adjacent 8-acre parcel to the site, imagine a massive combined-use challenge with around 1,000 household units, a charter faculty, workplaces and professional space, Pino claimed.
Century’s other projects include the finished 4-developing Midtown Doral elaborate with 537 condos and two garages in Doral. In the vicinity of Midtown Doral, Century partnered with Mattoni Group and Colombian design giant Conconcreto on a 326-device condominium task with two six-tale properties on the southeast corner of Northwest 107th Avenue and Northwest 82nd Avenue. The project’s next phase will have an additional 349 models.
Treo Team is led by Otto Boudet-Murias, Rolando Delgado, Eduardo Garcia and Carlos Ortega.
South Miami-Dade has caught developers’ eyes in current yrs largely thanks to the area’s advancement internet site rates, which come at a lower price as opposed with lots in Miami’s city core. In the vicinity of Homestead, Shadi Shomar, Gonzalo De Ramon and Royal American Construction program a pair of 4-story buildings with 159 workforce-priced flats on the southwest corner of Southwest 296th Road and South Dixie Highway.
