Our sources point to an exciting venture emerging in Miami Lakes. Palma Del Lago is a single-family housing development that was approved for 37 homes in 2023.
The residences, which currently start at $1.5 million, will measure 2,400 to 8,000 square feet. According to the community’s website, the luxury homes will come outfitted with cutting-edge technological accessories, luxurious finishing details, and environmental features.” The homes themselves come with lakeside views.
The community will offer 37 single-family homes. Image from the Miami Laker
The South Florida Business Journal reports that construction started on the development in October 2024, with Douglas Owens Homes operating as the general contractor. Fort Lauderdale-based GT Homes purchased the 16.67-acre build site for $12.77 million in 2022. In 2008, the property was slated for homes under a previous owner, but that project never came to fruition.
Most recently, GT Homes secured a $29.74 million construction loan to fund Palma Del Lago; in 2023, the project was estimated to cost $65 million. Urban Design Studio is operating as the planning firm. The West Palm Beach-based firm also worked on a 25-story dorm slated for Palm Beach Atlantic University. That venture is expected to open in fall 2025.
Palma Del Lago will reside within the already-existing Royal Oaks gated community, soon to be located along the northeast corner of Northwest 87th Avenue and Northwest 162nd Street.
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