Major Developments Transforming Princeton in South Miami-Dade

Princeton Developments

News Summary

Princeton in South Miami-Dade County is gearing up for significant changes with new housing projects from Lennar Corp and Aconcagua Developers. A land purchase of an 8.73-acre agricultural site is set to bring 114 townhouses and 162 apartments to the area. Additionally, Pinnacle is planning affordable housing for seniors. These developments aim to address the ongoing housing shortage, although safety concerns persist among residents. The future looks promising for this growing community.

Exciting Developments are Happening in Princeton, South Miami-Dade County

Hey there, folks! Have you heard the buzz around Princeton in South Miami-Dade County? Things are heating up as several major projects are set to transform the area, making it an attractive spot for homebuyers and renters alike. With Lennar Corp stepping in, this little corner of Florida is definitely on its way to becoming a bustling community.

New Lands to Call Home

Recently, a land bank pulled a major move by purchasing an agricultural site in Princeton. This 8.73-acre parcel located at 12400 and 12420 S.W. 248th St. was sold for a cool $9.6 million to TPG AG EHC SD (LEN) Multi State 2 LLC, which is part of a land bank managed by the private equity firm TPG Angelo Gordon. And guess what? Lennar has its eyes on this land as they plan to build some chic homes there!

What’s Cooking at Lennar?

In 2023, Lennar filed plans with Miami-Dade officials for rezoning and developing this site, which is poised to bring a modern touch to the neighborhood. The project is set to include 114 townhouses ranging in size from 1,678 to 1,942 square feet. Residents can expect some fun amenities too, including a playground for the kiddos and a dog park for our four-legged friends to enjoy. Location-wise, it’s super convenient, just a hop away from Somerset Academy Charter High School.

Aconcagua Developers Join the Party

But that’s not all! Aconcagua Developers is also adding some flair to Princeton with plans for a 162-unit apartment project. Imagine stepping into an eight-story building on a 3-acre site at Southwest 248th Street and Southwest 128th Avenue. These apartments will feature one and two-bedroom options, perfect for individuals and small families.

Pinnacle’s Affordable Housing Efforts

In addition, Pinnacle is making its mark with plans for an eight-story building that will include 110 affordable apartments specifically for seniors. Dubbed the Tropical Crossings project, it will feature retail spaces on the ground floor, along with studio, one-bedroom, two-bedroom, and even three-bedroom units. Pinnacle is known for its commitment to affordable housing, boasting nearly 10,000 units across the U.S., and they’re not stopping any time soon with numerous projects in the pipeline in sunny South Florida.

Addressing the Housing Crunch

South Florida is currently facing a significant shortage of affordable housing, worsened by skyrocketing rental prices. Developers are racing to fill this gap, assuring residents that new, affordable options are on the way in Princeton.

Safety Concerns on the Rise

As the community grows, residents are also voicing their concerns about safety. A tragic incident involving a 14-year-old boy, Lazaro Martinez, who lost his life while crossing the street, has raised alarms about pedestrian safety in the area. Many locals near SW 112th Avenue have reported frequent accidents, indicating a pressing need for improved lighting and safety measures. It’s essential that as the neighborhood expands, the safety of its residents is prioritized.

Looking Forward

With all these developments underway, it’s clear that Princeton in South Miami-Dade County is on the brink of a transformation. From new homes and affordable apartments to promises of improved safety, the future is looking bright! Residents are excited, and so are we – stay tuned for more updates as this story unfolds!