Pioneering developer Lissette Calderon is embarking on her third multifamily project in Miami's Allapattah neighborhood as part of her strategy to build homes in previously overlooked nooks.

Calderon plans to build a 12-story, 237-unit building with ground-floor retail on 1.5 acres acquired for $3.6 million on the heels of topping off her first Allapattah apartment tower.

Calderon's Neology Life Development Partners LLC affiliate TCG Allapattah 14 LLC bought the site June 4 from P26 LLC, according to the Miami-Dade County Property Appraiser's office.

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Lidia Dinkova

Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.