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

Prices will start at $2.6M

Feb.February 27, 2018 12:37 PM

Rendering of Veridian Grove home and Pascal Nicolai (Credit: Sabal Development)

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.

Related Articles

The Abaunza Group

Top producer at One Sotheby’s forms new team

From left: Brian Shapiro, Jo-Ann Forster, Lauren Goodkind Allan and Sande Forster Keil

Jo-Ann Forster joins Compass from One Sotheby’s

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

(Credit: Redwood Media Group)

Developers and brokerages are getting creative for Art Basel

Daniel and Mayi de la Vega, Michael Thorpe and Kimberly Thorpe

One Sotheby’s moves into Florida’s Treasure and Space coasts

Andrea Masses and Nirka Burns

Movers & Shakers: agents join Fortune, Brown Harris Stevens, One Sotheby’s & more

The Fort Lauderdale home and Kenny Stills (Credit: ONE Sotheby’s International Realty and Getty Images)

Ex-Miami Dolphin Kenny Stills is selling his Fort Lauderdale home

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon