The Calta Group Locks Down $30 Million Construction Loan For Coral Gables Townhomes 'Via Veneto'

The Calta Group, a real estate, development, and construction company led by brothers Ignazio and Gaetano Caltagirone, announced today that they have closed on a $30 million construction loan from Banesco USA for Via Veneto. The financing will fuel the development of Via Veneto, a collection of 10 ultra-luxury townhomes located in the heart of Coral Gables. Groundbreaking for this iconic project, which pays homage to Coral Gables' glorious past while introducing state-of-the-art grandeur, is slated for Spring 2025.

The sophisticated boutique project will feature 10 three-story townhomes, each offering more than 5,500 square feet of living space. Each residence offers four oversized bedrooms, four and a half baths, and expansive entertainment and living areas. Additional features include gourmet kitchens designed by Mia Cucina, renowned for its high-end Italian furnishings, and thoughtfully designed outdoor spaces with private terraces and summer kitchens overlooking a picturesque courtyard, providing an ideal blend of indoor and outdoor living.

Drawing inspiration from the neoclassical Mediterranean colonial style, Via Veneto’s exteriors combine timeless southern European elegance with modern luxury. Architectural details such as recessed entry porticoes, wrought-iron-inspired balconies, and intricate stonework complement Coral Gables' historical charm.

Each residence is uniquely distinguished by its own entry garden and façade. Within the landscaped development, residents will enjoy a trellised arched entryway, a paved motor court, and private carports alongside expansive four-car garages.

Priced from $5.7 million, Via Veneto is designed by renowned architect Nelson de Leon with interiors by Sensi Casa. The modern Mediterranean townhomes offer the added convenience of an elevator accessing all three levels.

“This construction loan represents a monumental milestone in making Via Veneto a reality,” said Gaetano Caltagirone, Co-Founder of The Calta Group. “We are proud to partner with Banesco USA, a respected leader in construction lending, to bring to life the most sophisticated project ever built in Coral Gables. Via Veneto is more than a development; it represents a culmination of our life experiences, passion, and a quest to exceed any level of sophistication Coral Gables has ever seen. This project is a legacy, a landmark that will become as iconic as The Biltmore Hotel, designed to fulfill the needs of an influx of discerning buyers attracted to this vibrant area.”

Banesco USA, an independent Florida state-chartered bank with $4.17 billion in assets and six locations between South Florida and Puerto Rico, has a strong reputation for serving a diverse clientele including the commercial and real estate sectors, small and middle-market businesses, and operating companies.

“At Banesco USA, we are committed to fostering exceptional projects that enrich the communities we serve,” said Calixto García-Vélez, President and CEO at Banesco USA. “Via Veneto exemplifies innovation and elegance, and we are proud to collaborate with The Calta Group to bring this exceptional development to Coral Gables.”

“We are proud to partner with The Calta Group on Via Veneto,” added John Cedres, Vice President – Corporate Lending Officer at Banesco USA. “This investment reflects our confidence in the strength of the Coral Gables market and The Calta Group’s track record of delivering exceptional developments that resonate with high-end buyers.”

Advisory services were provided by Jason Shapiro of CRE Capital Group.

Located at the intersection of Sevilla Avenue and Palermo Avenue, at 915 Palermo Avenue, Via Veneto offers unparalleled access to Coral Gables’ iconic landmarks, including The Biltmore Hotel, Venetian Pool, and Miracle Mile, celebrated for its boutique shopping, dining, and cultural attractions. Residents will also benefit from proximity to top-rated schools, parks, golf courses, recreational facilities, and Miami International Airport, making it an ideal choice for luxury buyers seeking convenience and sophistication.

Marketing and sales for Via Veneto are exclusively handled by Judy and Nathan Zeder, the high-powered mother/son duo with The Jills Zeder Group of Coldwell Banker Realty – the nation’s number one team as recognized by the Wall Street Journal.

Italian Developers Capture South Florida

South Florida, the tropical paradise we know and love, can be a challenging business environment for residential developers coming from overseas.

So, it’s great to report on a company with strong European roots that continues to make its mark in the region. Coral Gables-based developers The Calta Group, are market leaders with over $150 million in its development project pipeline spread across South Florida’s most prestigious markets. The Calta Group’s projects are diversified between ultra luxury single-family residential and Class A multifamily properties.

“Post-pandemic South Florida’s appeal has grown immensely, and a new crop of buyers and renters have emerged,” says Gaetano Caltagirone, president and co-Founder of The Calta Group. “We cater to domestic and overseas buyers -- and now renters -- who appreciate functional design, as well as smart and sustainable detail and finishes in their homes,” explains Ignazio Caltagirone, CEO & co-Founder of The Calta Group.

Multilingual globetrotters Gaetano and his brother Ignazio have extensive development experience in one of Italy’s most prominent real estate dynasties, having completed upwards of $1.5 billion in transactions. They bring a refined European sensitivity to building homes that fit harmoniously into the local environment.

Beginning in South Florida in 2010, the family-owned firm has weathered tumultuous real estate cycles while growing their business. They have built an impressive multidisciplinary team, which approaches each project with an exceptional pursuit of excellence. Coming from Italy, the Caltagirone brothers emphasize attention to detail. “We focus on delivering high-level finishes using the best materials and consider everything from lighting placement, to quality doors and kitchen hardware. Incorporating sustainable solutions into our projects is also a given,” says Ignazio Caltagirone.

The Calta Group’s success is reflected in a portfolio of ultra-luxury custom and spec single-family homes in Miami Beach, Coral Gables, South Miami and Pinecrest. They develop highly desirable homes that lead their respective market with record sales.

The company recognizes that single-family buyers, both domestic and new arrivals, appreciate a distinctly Florida vibe that makes their year-round residences feel like a vacation home. Many of the homes include resort-style amenities such as a pool, gym, saunas etc. “These amenities in a tropical environment make a home the ultimate sanctuary,” notes Gaetano Caltagirone.

The Calta Group has diversified into multifamily development and expanded its geographical footprint with the recent acquisition of a 180-unit multifamily development site in Hollywood, Florida. Located on Hollywood Boulevard, with proximity to Hollywood’s commercial center, the project will appeal to young professionals and their specific lifestyle needs. “We’re going to offer residents a fresh perspective on urban living with amenities suited to evolving tastes and preferences and of course, our signature attention to detail,” says Iganzio Caltagirone. Unit sizes will be smaller than comparable apartment buildings, but more efficient, and with more common area spaces that appeal to the resident demographic. “Younger people are not looking to live in these spaces long term. They don’t necessarily want to spend much time in their apartments and prefer common areas.” Amenities will include an onsite business center so residents can simply walk downstairs to work, as well as a dog park and dog-washing stations.

The Calta Group is actively pursuing multiple multifamily development projects in South Florida’s burgeoning and bustling neighborhoods. As recently featured in The Miami Herald, the firm plans new projects in the Little River neighborhood, catering to area workers next.

This article was done in partnership with The Calta Group