Century Homebuilders Group is planning to build a single-family home community alongside one of its proposed townhome communities in West Kendall.
Property records show an affiliate of the company just dropped $6.7 million for at least 11 acres of vacant land on the southwest corner of Southwest 136th Street and 157th Avenue, which runs parallel to Krome Avenue.
Century Homebuilders founder and president Sergio Pino said he is proposing to build 59 single-family homes on the site, with prices ranging from $450,000 to $550,000. Sales are expected to launch in November and construction would begin by the first quarter of 2019, he said. The residential community will be called Century Estates South.
The seller is a Panamanian-based company led by John Cheng and Elsa Escartin De Cheng. Records show the property last traded for $962,500 in 2002.
To the east of that development, Century Homebuilders is planning to develop a 156-unit townhome community called Century Park South. A representative of the company said via email that the firm is in the midst of rezoning that property and expects to have approval by the end of the year. Records show Century Homebuilders paid $4 million for the 8-acre property last year.
Lennar Homes recently completed an adjacent single-family home community called Lennar at Serenity. Armando Codina’s CC Residential also developed some nearby multifamily properties that were recently picked up by Blackstone Group’s real estate investment trust for about $139 million.
Century Homebuilders is also building a 118-unit rental project with partner Pactia USA, which will feature 10,000 square feet of commercial space near the Shops at Merrick Park in Coral Gables.