Salim Chraibi Of Bluenest Development Acquires 90 Acres In Homestead For $34.9M

A development site has been acquired in Homestead, FL, located at Krome Avenue & Southwest 272nd Street and 27655 Southwest 177th Avenue & 17300 Southwest 272nd Street. The property encompasses nearly 90 acres and was sold for $34,900,000. The site will host Redland Reserve, a large community project planned with 524 workforce-housing townhouses and single-family homes, with site work anticipated to commence in Q3 2027 and the first homes expected to be delivered in Q4 2028.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $34,900,000
• Buyer: Salim Chraibi
• Company: Bluenest Development
• Market: Homestead, FL
• Acres: 90
• Approved Units: 524 workforce-housing townhouses and single-family homes
• Site Work Start: Q3 2027
• First Homes Delivery: Q4 2028

Salim Chraibi, representing Bluenest Development, has successfully acquired the property, marking the company's largest community development to date in Miami-Dade’s Redland area.