Alta Developers has just broken ground on the first phase of Princeton Gateways, also known as Princeton Commons. The project, which has been in planning since 2022, is now moving forward following a $60 million construction loan from Miami-based City National Bank of Florida. The first phase will replace three parcels located at 24450, 24500, and 24550 SW 127th Avenue with modern apartment buildings.
The MSA Architects-designed complex isn’t alone. Despite being located in a relatively low-density area in Princeton, development across South Miami-Dade has surged in recent years. Limited available land has pushed traditional suburban projects to grow upward rather than outward; this groundbreaking is another example of such developments.
After recently receiving ASPR approval for the first phase, the latest 2024 plans outline 308 residential units, although 384 are permitted. The mix will include one-, two-, and three-bedroom layouts, with two-bedroom units making up the majority at 61% of Phase 1. The development will feature nine buildings arranged around a central parking lot, with additional on-street parking for residents. In total, 417 parking spaces will be provided.
With interiors designed by local firm Raymond Nicholas, the development will offer modern residences featuring large windows and private balconies. Ceiling heights will reach up to 9 feet 6 inches, creating bright and spacious living areas.
Buildings in Phase I will range from three to seven stories, rising between 36 and 66 FT The first phase will include two seven-story buildings and seven three-story structures. The complex will also feature a white and gray color palette, accented by greenery along the facades and surrounding sidewalks.
While the second phase hasn’t broken ground, it received approval earlier this year and follows a similar design and layout to the first phase. Smaller in scale, it will include 226 units spread across seven buildings, offering 1-, 2-, and 3-bedroom layouts. Residents will have access to 350 parking spaces. The construction start date is currently unknown, and unlike the first phase, the second phase’s site is not yet cleared for development.
When both phases are complete, the complex will feature 534 units and 767 parking spaces. South Florida’s unique geological constraints, unlike regions such as Houston or Los Angeles, make projects like this feasible. Just months ago, a developer proposed a 25-story tower slightly further north under Florida’s Live Local Act, a landmark housing bill.