Aconcagua's Casa Princeton Hits 374 Units with Final Homestead Phase

• Aconcagua Developers is advancing the third and final phase of Casa Princeton at 12867, 12875, 12883 and 12891 S.W. 248th Street, Homestead, Florida 33032, with 162 rental residences planned.
• The eight-story project is expected to span 163,807 square feet and offer one- and two-bedroom apartments averaging about 795 square feet.
• Amenities are planned to include a swimming pool, fitness center, dog park and pet spa, mini market, workspace and Amazon lockers.
• The development is backed by a $35 million construction loan and would bring the full Casa Princeton community to 374 units once all phases are completed.

What Casa Princeton Phase III Will Add

Aconcagua Developers is moving ahead with the third and final phase of Casa Princeton in Princeton, an unincorporated community in southern Miami-Dade County near Homestead. The project is planned for the properties at 12867, 12875, 12883 and 12891 S.W. 248th Street. The eight-story building will contain 162 apartments in one- and two-bedroom layouts, with residences averaging approximately 795 square feet. According to Aconcagua's project information, Phase III will include about 119,579 square feet of leasable area and 163,807 square feet of gross area.

What Residents Will Have Access To

The project is being designed around amenities that target renters looking for more convenience close to home. Plans call for a swimming pool, fitness center, clubhouse, workspace and covered parking. Residents will also have access to a dog park and pet spa, along with an on-site mini market and Amazon package lockers. The combination gives the development a more full-service feel while keeping everyday necessities within the property. The amenities are consistent with Aconcagua's broader approach to workforce-oriented multifamily housing in South Florida, where the company focuses on serving essential workers, dual-income households and emerging professionals.

What The Full Casa Princeton Community Includes

Phase III will complete the Casa Princeton development, which has been built in stages. Aconcagua's current project portfolio lists 62 units in Phase I, 150 units in Phase II and 162 units in Phase III, bringing the community to 374 apartments in total. Phase III is currently identified as under construction on the developer's website. The first two phases established the residential base for the community, while the final phase will add the largest individual building in the development. The phased approach also gives Aconcagua a larger presence in an area where multifamily development has continued to expand.

What The Financing And Site Investment Look Like

The third phase is supported by a $35 million construction loan, providing financing for the next stage of development. Aconcagua acquired the approximately 2.7-acre site for $3.6 million in 2024, according to the project report. The company subsequently moved forward with development of the final phase. The project's location in southern Miami-Dade gives it access to a growing residential market where developers have increasingly targeted land for multifamily housing. Nearby communities include Homestead, Florida City, Princeton, Goulds and Naranja.

What The Project Means For South Miami-Dade

Casa Princeton Phase III is part of a broader wave of multifamily development moving into southern Miami-Dade as developers look for larger sites and opportunities outside Miami's urban core. Aconcagua has several other South Florida projects in its pipeline, and its current portfolio includes multifamily developments in Princeton, Miami, North Miami Beach and other parts of Miami-Dade County. The company says it has developed more than 3,000 units globally and focuses on workforce housing. The completion of Casa Princeton Phase III would give the developer a 374-unit residential community in Princeton and further expand the supply of new rental housing in the Homestead area.