Lennar Acquires Pine Isles Mobile Home Community In Homestead For $29 Million

Lennar Homes (NYSE: LEN) has acquired the former site of Pine Isles Mobile Home Community in Homestead for $29 million. The property is located at 28600 SW 132nd Ave. and spans 42.7 acres. Pines Isles Mobile Home Community serviced seniors and was disbanded in 2019 before the site was rezoned for the development of 456 single-family homes. The seller was MAC Thirteen LLC, an entity tied to Rolando Delgado of Treo Group, who will receive a portion of the proceeds from each home sold. Delgado purchased the site in 2018 for $12.99 million.

Lennar Homes has already launched sales of the project, named Pine Vista, a master-planned community of townhomes and single-family homes with resort-style amenities. Homebuyers will have 14 different floorpans to choose from and single family homes will range from 1,833 square feet to 3,221 square feet and pricing from $357,990 to $419,990. Townhomes will start in the $200,000’s. Amenities will include a clubhouse, pool and park.

Treo Group To Break Ground On Vox Miami, Multifamily Housing Targed At Students

Vox Miami, a multifamily project designed by Perkins and Will and developed by Treo Group, is gearing up to break ground at 5801 S Dixie Highway. The project is targeted at students and is located just a short walk from the South Miami Metrorail Station. Vox Miami will rise 8-stories and will feature 361 residences. The building will also offer a pool, rooftop terrace, fitness center and residents lounge. Pricing is expected to be even lower than the new student housing buildings on the University of Miami campus. Vox Miami will also feature a phase 2 with a proposed 10-story Class A office building and the entire project is expected to cost roughly $125 million to develop. Vox Miami’s multifamily component is expected to be completed by August 2021.