Venezuelan developer SSA Group is launching sales for a planned short-term rental-friendly condo project in Coconut Grove.
The firm, led by founder Maximo Sacchini, is planning the three-story, 16-unit Roble One at 3069 Plaza Street in Miami, according to a press release. Sacchini tapped Compass’ Opes Group, led by Joanna Jimenez, Michelle Cardenas and Daisy Bilba, to helm sales and marketing for the project.
Roble One will have one- and two-bedroom units spanning from 575 square feet to 1,000 square feet, marketing materials show. Amenities will include a gym and rooftop with a Jacuzzi, a spokesperson confirmed. Sacchini tapped Atelier 305 as the architect for the project, according to the release.
Unit prices start at $780,000, and it is anticipated to reach a total sellout of $14 million, the spokesperson said. Construction begins next month and is expected to finish in late 2026.
Each unit in the building is also eligible for daily rental, according to the release. Short-term rental-friendly projects make up half the total planned condos in South Florida’s development pipeline, according to a TRD analysis. Investors want to buy them and developers want to build them, fueling a surge of thousands of units, many of them planned for Miami’s downtown neighborhoods.
Last month, PMG, Lion Development Group and Marc Roberts Companies landed a $215 million construction loan for a planned 44-story, 659-unit short-term rental-friendly condo tower in Miami’s Park West neighborhood. A few weeks later, PMG and its partner Lndmrk Development launched an eight-story, 233-unit short-term rental-friendly condo project in Wynwood.
Coconut Grove has emerged as a hot spot for development in recent years, but short-term rental-friendly projects are less common in the neighborhood. Earlier this month, Jose Canero’s Canero Group completed a $17.3 million buyout of an older condo building. There are no current plans for redevelopment of the project, which he plans to operate as a rental building in the short term. Mast Capital and BH Group are working together on a buyout of another condo building in Coconut Grove, and could own as many as 30 of its 39 units by next month.