The Real Deal Miami

Single-family homes, townhomes planned for Pinecrest

Pinecrest Place will have 10 homes; Villas at Pinecrest will be an 18-townhome project

February 17, 2016 05:15PM
By Ina Cordle

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GC3 Development and Bindor Development are spurning condominiums and zeroing in on single-family homes and townhomes, with two projects underway in Pinecrest.

Pinecrest Place, a luxury home development, has recently broken ground at 9600 Southwest 72nd Avenue, Sergio Fuenzalida, sales and development associate of GC3 told The Real Deal

At Pinecrest Place, the developers plan 10 single-family homes, each on 15,000-square-foot lots. The project will be built on a 5-acre parcel formerly known as the Horse Farm that Bindor Development had bought for $5 million in 2014. Each residence will be 5,000 square feet to 7,000 square feet, with garages, SubZero/Wolf appliances and Isenberg fixtures, Fuenzalida said.

The homes will be priced from $2.495 million to $2.9 million. So far, the project is 50 percent sold, with five houses under contract, he said.

Next will be the Villas at Pinecrest, an 18-townhome project at 7520 Southwest 100th Street that is currently undergoing site preparation. Bindor Townhomes contracted the land for purchase for $6.7 million in 2014. Miami-based Bindor Development is headed by James Dorsy, and Miami-based GC3 Development is led by Michael Garcia-Carrillo.

“We thought we needed townhome product in Pinecrest luxury townhomes  because not everyone likes the one-acre lifestyle,” Fuenzalida said. “We also wanted to create an opportunity for young families who want to start a family here and people who want to downsize — empty nesters who have an 8,000 square-foot home and want to stay in Pinecrest because their kids and grandkids live in Pinecrest.”

Villas at Pinecrest’s prices will range from $1.2 million to $1.4 million, with townhomes sized from 3,418 square feet to 3,680 square feet, and averaging 3,550 square feet. So far, the project is 38.5 percent sold, with five townhomes under contract, Fuenzalida said.

The 2.5-acre property was previously a privately-owned mango grove with a small house on the property. At one time, the site was used by Henry Flagler as a staging area for raw materials when he was building the railroad extension to the Keys, he said.

Sotolongo, Salman & Henderson are the architects on both Pinecrest Place and Villas at Pinecrest, and both have a “coastal contemporary style. Both projects are expected to be completed in 2017.

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