Developer scores construction loan on luxury homes in south Miami-Dade

An affiliate of Sabal Development just scored construction financing and will soon break ground on its custom-home community called Veridian Grove in south Miami-Dade.

The company, led by luxury home developer Pascal Nicolai, scored about $16.2 million in construction financing from Branch Banking and Trust Company, property records show.

Nicolai bought the 10-acre property at 8290 Southwest 120 Street in 2015, but no price was recorded. The developer plans to build 20 luxury homes priced from $2.6 million, with lot sizes starting at 15,000 square feet, according to a press release.

Buyers will have the opportunity to custom design their homes in the gated community. One Sotheby’s International Realty is the exclusive sales and marketing firm. The single-family home community is scheduled to be completed during the fourth quarter of 2019, a spokesperson for Sabal Development said.

Architecture firms Sotolongo Salman Henderson Architects and TOGU Architecture will be designing the homes. Features include a digital concierge, pools, summer kitchens and rooftop terraces. Home buyers will have access to a wellness center with a heated lap pool, steam room, sauna and fitness center.

Veridian Grove will rise just west of South Dixie Highway on 120th Street, not far from Pinecrest, where a number of celebrities and star athletes live, like Miami Heat player Dion Waiters and former Los Angeles Laker player Lamar Odom.