Estate Companies and a partner plan a mixed-use project with 354 apartments and commercial space in Homestead, marking developers’ continued bet on south Miami-Dade County.
Estate and Midtown Group, led by principal Jon Samuel, bought the 20.8-acre vacant development site on the southeast corner of Campbell Drive and Northeast 30th Avenue for $14 million, according to an Estate news release.
Samuel was a developer of the Midtown Miami mixed-use complex.
The seller is Baptist Health South Florida, which had purchased the four-lot property in 2003 for $1.5 million, records show.
On the south portion of the site, Estate will develop and own the apartment complex consisting of six five-story buildings, with units ranging from 676 square feet to 1,131 square feet, the release says. Miami-based Midtown Group will develop and own six commercial outparcels fronting Campbell Drive. Renderings show some of the buildings on the outparcels would be for restaurants.
The city of Homestead approved the project, called Soleste Midtown, in September. Construction is expected to start this summer, and it is expected to be completed in 2026, according to an Estate spokesperson.
Since the completion of Midtown Miami, Samuel has been investing in South Florida real estate. In 2019, he bought a pair of closed Toys “R” Us buildings following the company’s Chapter 11 bankruptcy filing and the closing of all of its stores. Samuel bought the Toys “R” Us at 19525 South Dixie Highway in Cutler Bay and the building at 601 North Congress Avenue in Boynton Beach, paying $7 million for each.
In 2021, Samuel picked up a 107,000-square-foot industrial complex at 11711 West Sample Road in Coral Springs for $15.7 million.
Founded in 2012, Estate is a South Miami-based development firm focused on South Florida multifamily. Led by Robert Suris and Jeffrey Ardizon, the company has a pipeline of 4,000 units and 153,000 square feet of commercial space, the release says. Its completed projects include the eight-story, 340-unit Soleste SeaSide at 4 North Federal Highway, which is part of a larger complex that includes retail; and the 23-story, 367-unit Soleste NoMi Beach at 16395 Biscayne Boulevard in North Miami Beach.
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Next to Soleste NoMi Beach, Soleste is developing the 29-story 363-unit Soleste on the Bay at 16375 Biscayne Boulevard. In Davie, Estate has approval to build the eight-story, 353-unit Soleste Reserve I at 5081 Southwest 48th Street and also plans the eight-story, 310-unit Soleste Reserve II on an adjacent lot.
The Homestead project is the latest in a string of planned developments in south Miami-Dade. The area has a healthy supply of vacant buildable land that sells at a discount compared with sites in Miami’s urban core. Aside from Homestead, south Miami-Dade also consists of the Florida City municipality and the neighborhoods of Naranja, Goulds, Princeton and Leisure City.
In Goulds, developers Javier Sanchez, Marianna Parra Villegas and Adriana Ortega propose the six-story, 44-unit Horseshoe Cay Apartments with some workforce units at 21839 Southwest 118th Court.
Alta Development, led by Raimundo Onetto, plans the two-phase Princeton Commons multifamily project with a total of 534 units on the northwest corner of Southwest 127th Avenue Southwest 248th Street.