Sergio Pino’s Century Homebuilders buys land, scores financing for new single-family home community near Tamiami

Home prices will range from $439k to $527k

Miami /
Jan.January 31, 2018 03:30 PM

Rendering of homes at Century Lakes III and Sergio Pino (Credit: Century Homebuilders Group)

Sergio Pino’s Century Homebuilders Group just paid $8.85 million for a large vacant lot west of Tamiami and is about to break ground on Century Lakes III, a planned single-family home community, The Real Deal has learned.

Century Lakes III will be built on a 12.5-acre lot south of Coral Way and just east of Southwest 152nd Avenue. The land traded for about $16 per square foot. Pino said the company plans to break ground in the beginning of April.

Records show Cypress Lake Homestar LLC, led by Jose Fernandez, sold the property. Fernandez paid $4.3 million for the three-parcel lot in August. The site now traded with rights to build up to 59 single-family homes, Pino said.

Records show Pino’s company scored an $11.6 million construction loan from Apollo Bank.

Home prices will range from $439,000 to $527,000, with one- and two-story houses spanning from 2,500 square feet to 4,100 square feet. About 40 percent of the homes will be facing a lake, Pino said.

Century Lakes III is set to be completed by December 2019. Pino said he hopes to complete sales by the end of the year.

Century is also developing Midtown Doral, a mixed-use project that will include more than 1,500 condos, as well as retail space and offices. In October, Pino announced that he would shrink the size of some of the condos and turn them into micro units – a move he said is geared to attract more local buyers.


Related Articles

arrow_forward_ios
GL Homes' Dick Norwalk and Miami-Dade County Mayor Daniella Levine Cava (GL Homes, Miami-Dade, Third District Court of Appeals)
Court ruling throws wrench in GL Homes’ Calusa project
Court ruling throws wrench in GL Homes’ Calusa project
D.R. Horton's president and ceo David Auld and D.R. Horton's founder and chairman Donald R. Horton with the plot of land (D.R. Horton, Town of Davie Planning & Zoning)
D.R. Horton plans to build 86 homes on Davie nursery site
D.R. Horton plans to build 86 homes on Davie nursery site
PulteGroup’s Brent Baker and the Palm Beach Gardens (Google Maps, Getty)
PulteGroup buys more Avenir home sites in Palm Beach Gardens
PulteGroup buys more Avenir home sites in Palm Beach Gardens
D.R. Horton's David Auld with an aerial of the development site (D.R. Horton, WGI)
D.R. Horton wins rezoning for 59 single-family homes in Pompano Beach
D.R. Horton wins rezoning for 59 single-family homes in Pompano Beach
PulteGroup's Andrew Maxey and renderings of the project online (PulteGroup, LinkedIn, Getty)
Pulte buys Plantation site for 86-townhome development
Pulte buys Plantation site for 86-townhome development
From left: Sotheby’s Daniel de la Vega and Reagan Jefferies with Brevard County
One Sotheby’s picks up Brevard County brokerage
One Sotheby’s picks up Brevard County brokerage
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
Netscape co-founder Jim Clark and 2000 South Ocean Boulevard in Manalapan (Getty, Sotheby's)
Manalapan compound poised to sell for Florida-record $175M
Manalapan compound poised to sell for Florida-record $175M
arrow_forward_ios

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

Loading...