Miami-based Century Homebuilders Group recently broke ground on a 131-townhouse project in Miami-Dade County’s Fontainebleau area after it secured an $11 million construction loan from Capital Bank Corp., writes Brian Bandell, reporter for the South Florida Business Journal.
Century Homebuilders acquired the 9.6-acre site for $9 million from Orot Flagler LLC. The community is called Century Park Place.
Units will range from three bedrooms and 1,914 square feet to four bedrooms and 2,251 square feet. Prices range from $339,990 to $372,990.
Capital Bank required Century Homebuilders to include the 4.6 acres at northeast corner of Southwest 43rd Terrace and Southwest 159th Avenue in the loan as additional collateral. The developer acquired that site for $1.55 million in 2015.