The developer received a building permit for this 78-unit, 14-story project Dec. 9. Located at 1627 Douglas Road, the project will cost an estimated $15 million, developer Harvey Hernandez of H&H Development Co. tells GlobeSt.com.
Keystone Construction of Miami is the general contractor. Behar and Font of Coral Gables is the architecture firm. The project should be completed in 14 months, he says, and is already 95% sold.
Hernandez notes that the price range for this Mediterranean-style building is lower than neighboring properties. "There's a big demand in the area for units under $230,000," he says, adding the location is another selling point.
"The reality is in two months, we sold the building," says Hernandez, noting the property will feature 1,000-sf, two-bedroom, two-bath units. "When you sell that quickly, you have the pressure of getting this thing off the ground. When you're dealing with the city of Miami, it's tough."
In another project, H&H Development Co. plans to break ground in January on Villa Calabria, a 35-unit, 6-story condo project with an estimated completion date of December 2003. This $11 million project, to be at 20 Calabria Ave., is approximately 75% sold, Hernandez says. He adds that he is just waiting for the building permit to get started.
The 1,200-sf, two-bedroom, two-bath units will sell for about $320,000. Keystone Construction is the contractor on this project as well.
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