Stellar Communities purchased a development site in Florida City for $12 million and plans to move forward with a mixed-use project.
The JBC Irrevocable Trust, with John L. Alger as trustee, sold 29.8 acres of farmland at the southwest corner of Southwest 328th Street and Southeast Sixth Avenue to SC29 FL City LLC, an affiliate of Fort Lauderdale-based Stellar Communities. Alger is the president of Alger Farms, one of the largest agricultural companies in south Miami-Date County.
Larry Baum, managing principal of Stellar Communities, said the development plan includes 359 townhouses and a four- acre commercial site. He didn’t say when construction would start.
Florida City is on the southern end of Miami-Dade, close to the Florida Keys. Relatively low land values make it an ideal place to build homes at affordable price points.