T
he Calta Group has secured a $30 million construction loan for its Via Veneto townhome project in Coral Gables from Banesco USA. Led by brothers Ignazio and Gaetano Caltagirone, the developer plans to break ground on the 10-unit project this spring at 915 and 920 Palermo Avenue. The site was purchased for $12 million in 2023 after being reduced from 12 units to 10.

    Prices for the townhomes now start at $5.7 million, with each unit spanning 5,500 square feet and featuring four bedrooms, four bathrooms, one half-bathroom, and private terraces. The project is 30% presold, with construction expected to be completed in 2026. The design team includes architect Nelson de Leon and interiors firm Sensi Casa.

    The Caltagirone brothers have a significant pipeline of projects beyond Coral Gables, including a mixed-use development in Miami's Allapattah neighborhood and an apartment building in Hollywood. Their luxury townhome project is part of the growing demand for high-end real estate in Coral Gables, driven by inward migration to South Florida and wealthy newcomers seeking proximity to the area's top schools.