Developer launches sales for luxury homes in the West Grove

Miami /
Apr.April 12, 2017 03:00 PM

Chicago developer Ricky Trinidad has launched sales for a group of new single-family homes in the West Grove with plans for dozens more. 

Trinidad, now based in Miami, will break ground next week on the first of six luxury homes, called Grove Palms, priced from $995,000, listing agent Michael Light said. Light, of Douglas Elliman’s Miami Luxury Homes Group, said the developer “believes in the future of what West Grove is going to become.”

Coconut Grove is Miami’s oldest neighborhood, and the western portion was home to Miami’s early black Bahamian settlers. Development has been creeping west in recent years, with investors picking up older apartment complexes and homes. In 2016, Pinnacle Housing Group opened Gibson Plaza, a senior housing and market-rate apartment complex on Grand Avenue.

LointerHome recently launched sales for a six-home development called Glass House with prices starting at $700,000. The project is also in the West Grove.

Prices for Grove Palms range from $995,000 to $1.3 million, with per-square-foot prices starting at $343. One home is under contract. In other parts of Coconut Grove, new construction is priced between $550 per square foot and $600 per square foot, according to Light.

The modern-style houses will start at 2,900 square feet and go up to 3,750 square feet. Options like three-car underground garages, elevators and rooftop decks with Jacuzzis and summer kitchens are also available on some models. The homes will be walled and gated, Light said.

Light said the developer is targeting young, growing families looking for new construction but priced out of other parts of the neighborhood and city. Trinidad, president of Metronomic Inc., “wants to purchase as many properties in that neighborhood as he can” over the next five or six years, Light said. “It’s really a neighborhood that has a lot of room for development.”

Metronomic will break ground on the remaining houses over the next 45 days, and deliver them within 10 months. Property records show Metronomic affiliates, controlled by Kelly Beam, own lots on Elizabeth Street, Frow Avenue and Oak Avenue. The developer paid nearly $2.1 million combined for the six properties between 2016 and now.


Related Articles

arrow_forward_ios
3187 Royal Road, Coconut Grove (Realtor)

Ransom Everglades sues developer Caroline Weiss over backyard boat dock

Ransom Everglades sues developer Caroline Weiss over backyard boat dock
Matthew B. Gorson and One Park Grove (Google Maps)

Greenberg Traurig chairman pays $7M for One Park Grove condo

Greenberg Traurig chairman pays $7M for One Park Grove condo
Kelly Beam, Ricky Trinidad , and 3265 Bird Avenue (Credit: Google Maps)

Miami developer Metronomic files for bankruptcy

Miami developer Metronomic files for bankruptcy
Mike Fernandez and Grove at Grand Bay unit 1901S (Getty, Lifestyle Production Group)

Miami billionaire Mike Fernandez sells Grove at Grand Bay condo

Miami billionaire Mike Fernandez sells Grove at Grand Bay condo
Map of condo sales and Grove at Grand Bay at 2675 South Bayshore Drive (Credit: Google Maps)

Miami condo sales rise in first week of September

Miami condo sales rise in first week of September
David Martin, Jorge Perez, and One Park Grove (Credit: Robin Hill)

Terra and Related pay off $112M construction loan for Park Grove condo tower

Terra and Related pay off $112M construction loan for Park Grove condo tower
Vizcaya Museum and Gardens and Joel Hoffman (Credit: Robin Hill)

Vizcaya needs money to operate, launches $1M fundraising campaign

Vizcaya needs money to operate, launches $1M fundraising campaign
(iStock)

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...