McDowell Properties wants to build a 201-unit multifamily project on land it has under contract near Homestead.
McDowell, based in Dallas, proposes a seven-story Coronado Park building on 4.8 acres at 29500 Old Dixie Highway, according to an application filed with Miami-Dade County last week.
McDowell is asking for the site to be included in the Leisure City Community Urban Center District, and to tweak other regulations to allow the development.
The property consists of two vacant lots, one owned by Walter and Josephine Glass, and the other by Jose Fuentes, property records show. The purchase price was not disclosed in the application.
McDowell Properties, led by Chairman and CEO W. Patrick McDowell, as well as by President Kenneth Lee, has bought more than $2.5 billion of real estate since it was founded in 2004, according to its website. The company is a financier, as well as asset and construction manager. In addition to Dallas, it also has offices in Miami, New York and San Francisco.
McDowell and his wife, Camille Roxanne McDowell, are not new to South Florida: In May they bought a condo at Palazzo Del Sol on Fisher Island in Miami Beach for $7 million.
McDowell Properties is the latest among a slew of developers seeking to build residential projects in south Miami-Dade County.
The multifamily market across South Florida has been particularly robust because of high demand created by population influx.
Still, other planned south Miami-Dade developments are for new homes for purchase.
And in January, homebuilder Lennar bought a 25.3-acre development site, also in Homestead, for $22.5 million.