HOMESTEAD, FLA. — The Estate Cos. (EIG) and Midtown Group have acquired a 20.8-acre development site located in Homestead, approximately 40 miles southwest of Miami, for $14 million. The companies received approval last September to develop Soleste Midtown, a mixed-use project, at the site.
Upon completion, the development will comprise 354 residential units, as well as 43,000 square feet of commercial space. Residences will include apartments ranging from 676 to 1,131 square feet within six five-story buildings. Amenities will include a 7,000-square-foot clubhouse, swimming pool and playground.
EIG will develop and own the residential portion, with Midtown Group developing and owning the commercial component of the property, which will feature six outparcels situated along a promenade.