Luxury residential Doral community approved for $26M loan

BCI Miami Bank approved a $26 million loan Tuesday to build a luxury townhouse and single-family home community in Doral.

ALTA Developers and Terra Group are developing Neovita Doral, a 32-acre community that will have 142 townhouses ranging in size from about 1,800 square feet to 2,000 square feet, and 80 single-family houses ranging from about 2,700 square feet to 3,600 square feet. Preconstruction prices range from $400,000 to nearly $1 million, according to a news release.

Construction will begin later this month and is expected to be complete toward the end of 2015.

Neovita is another addition to Doral’s growing residential portfolio. It’s located at Northwest 104th Avenue between Northwest 68th Street and Northwest 71st Street. – Katherine Kallergis