Century Homebuilders buys land in West Kendall, plans residential community

Developer is proposing to build 59 single-family homes with prices ranging from $450k to $550k

Miami /
Jul.July 24, 2018 01:30 PM

Aerial of the property, site plan of proposed home community and Sergio Pino

Century Homebuilders Group is planning to build a single-family home community alongside one of its proposed townhome communities in West Kendall.

Property records show an affiliate of the company just dropped $6.7 million for at least 11 acres of vacant land on the southwest corner of Southwest 136th Street and 157th Avenue, which runs parallel to Krome Avenue.

Century Homebuilders founder and president Sergio Pino said he is proposing to build 59 single-family homes on the site, with prices ranging from $450,000 to $550,000. Sales are expected to launch in November and construction would begin by the first quarter of 2019, he said. The residential community will be called Century Estates South.

The seller is a Panamanian-based company led by John Cheng and Elsa Escartin De Cheng. Records show the property last traded for $962,500 in 2002.

To the east of that development, Century Homebuilders is planning to develop a 156-unit townhome community called Century Park South. A representative of the company said via email that the firm is in the midst of rezoning that property and expects to have approval by the end of the year. Records show Century Homebuilders paid $4 million for the 8-acre property last year.

Lennar Homes recently completed an adjacent single-family home community called Lennar at Serenity. Armando Codina’s CC Residential also developed some nearby multifamily properties that were recently picked up by Blackstone Group’s real estate investment trust for about $139 million.

Century Homebuilders is also building a 118-unit rental project with partner Pactia USA, which will feature 10,000 square feet of commercial space near the Shops at Merrick Park in Coral Gables.


Related Articles

arrow_forward_ios
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
A map highlighting both the entire Arden home community and the portion that GL Homes bought with GL Homes President Misha Ezratti (GL Homes, Google Maps)
GL Homes pays $28M for homesites at Arden near Wellington
GL Homes pays $28M for homesites at Arden near Wellington
Lennar’s Stuart Miller (Lennar, iStock)
Lennar proposes 1,335 homes and revamped golf course in Homestead’s Keys Gate
Lennar proposes 1,335 homes and revamped golf course in Homestead’s Keys Gate
 Lennar's Stuart Miller with the Southern Boulevard (Google Maps)
Lennar pays $190M for remainder of Arden homesites near Wellington
Lennar pays $190M for remainder of Arden homesites near Wellington
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
arrow_forward_ios

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

Loading...