X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

MIAMI-AJP Development Group is planning to build the 124-unit Palm Isle at Doral, a new community of townhomes and garden villas.

Jorge Guerra Jr., of locally based Real Estate Sales Force, the exclusive sale broker for the project, tells GlobeSt.com that sales efforts will begin shortly. Prices for the units start in the $300,000s, with an estimated project sell-out of $55 million.

It is located in the heart of Doral, a neighborhood that has been experiencing significant growth in recent years. “With Palm Isle at Doral, AJP Development Group is continuing a major trend toward family living in the area,” says AJP Development Group president Alberto Perez, in a released statement. “The Doral area is a booming community because of the vast number of family-friendly developments which make it the ideal neighborhood in which to raise a family.”

The project will contain 87 garden villas with two to three bedrooms and two to two and one-half bathrooms. They will range in size from 1,145 sf to 1,755 sf. The project will also contain 37 townhomes with three to four bedrooms and two and one-half to three and one-half bathrooms. They will range in size from 2,701 sf to 2,967 sf. Among community features are Key West-style architecture, concrete block construction, metal roofs, energy efficient windows and steel storm shutters.

Guerra says he has been selling residential units in Doral since 2000 and estimates that he has sold approximately 2,000 units. Based on the strength of the market, he anticipates selling out Palm Isle at Doral within a week. “In the last five to six years, that area has exploded. That market is on fire,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.