Today Onyx Housing Group, a multifaceted real estate development firm based in South Florida, announced the closing of six land parcels at 16300 Southwest 296th Street in Homestead, Florida. The 150,201 square foot, 3.45 acre-lot was asking $4.95 million and will be the future home of Regatta Point, a $46.5 million-dollar multi-family project. Current Real Estate Advisors’ Alejandro Snyder & Michael Williams represented Onyx Housing Group and Lisa Gonzalez (KW Commercial) represented the sellers, Jeffrey Jay and Ana Maria Butt. Regatta Point is the second south Miami-Dade project by Onyx partners Shadi Shomar & Gonzalo De Ramon. Shomar also leads Miami-based Arte Hospitality, a hotel firm that owns properties including Bentley Hotel South Beach at 510 Ocean Drive in Miami Beach.
Regatta Point will be a multifamily complex on the southwest corner of 296th Street and South Dixie Highway, no and will feature 2, 4-story buildings and 159 units ranging from one-to three-bedroom homes with surface parking. Construction is expected to start mid-next year, and completion is slated for Q3 2026.
The 150,201 square foot, 3.45-acre lot at 16300 Southwest 296th Street (looking north). Credit: Current Real Estate Advisors.
“Given the severe shortage of available housing in South Florida and, specifically, in Miami-Dade County, Onyx’s Regatta Point project is a step in the right direction towards addressing that necessity,” says Alejandro Snyder, Managing Director – Investment Sales, Current Real Estate Advisors. “The South Dade market continues to flourish in that respect, offering developers financially viable locations to build communities that are increasingly connected to the downtown areas by accessible and affordable mass transit.”
This marks just one of the many projects Onyx has in its greater pipeline including Naranja Grove, and the construction of a 337-unit apartment complex at 24000 Southwest 127th Avenue in Princeton. With plans to expand beyond South Florida, Onyx is also working on an 846-unit development on 47 acres in Fort Pierce, Florida.
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