{"id":11135,"date":"2025-10-19T16:06:06","date_gmt":"2025-10-19T16:06:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/11135\/"},"modified":"2025-10-19T16:06:06","modified_gmt":"2025-10-19T16:06:06","slug":"south-florida-to-add-3000-new-condos-at-metropica-lifestyle","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/11135\/","title":{"rendered":"South Florida to add 3,000 new condos at Metropica | Lifestyle"},"content":{"rendered":"<p>According to a report by <a href=\"https:\/\/condovultures.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Condo Vultures<\/a>, at the start of 2025 the tri-county South Florida region had roughly 25,315 condo units listed for resale, about 17,700 of them \u201cvintage\u201d\u2014buildings 30 years or older.<\/p>\n<p>Now, a new development being called a \u201cmini-city\u201d in Sunrise will add another 3,000 apartments and condos, along with four office towers, two hotels, upscale restaurants, and boutique shops.<\/p>\n<p>The $2 billion Metropica project, as <a href=\"https:\/\/www.sun-sentinel.com\/2025\/10\/06\/sunrises-skyline-is-looking-up-3000-new-metropica-condos-and-apartments-on-the-way\/?utm_medium=WEB_notification&amp;utm_source=pushly&amp;utm_campaign=83042570\" target=\"_blank\" rel=\"nofollow noopener\">reported by the South Florida Sun Sentinel,<\/a> is being described as a \u201cmegaproject\u201d and \u201cdream community.\u201d<\/p>\n<p>Developer <a href=\"https:\/\/www.kgroupholdings.com\/#:~:text=Joseph%20Kavana%C2%A0%C2%A0%20Chairman,Miami%20since%201980.\" target=\"_blank\" rel=\"nofollow noopener\">Joseph Kavana<\/a>, a Miami-based real-estate investor originally from Uruguay, is the driving force behind Metropica. The project\u2019s website describes it as \u201cmasterfully designed residences\u201d offering on-site amenities and 24\/7 concierge-level services.<\/p>\n<p>Kavana, who has lived in Miami since 1980, serves as Chairman &amp; CEO of <a href=\"https:\/\/www.kgroupholdings.com\/\" target=\"_blank\" rel=\"nofollow noopener\">K Group Holdings<\/a> and previously founded Sagaz Industries, a manufacturing company he later sold to Pennzoil in 2000. He also chairs the Community Development District overseeing portions of the Metropica site.<\/p>\n<p>He told the Sun Sentinel it will take about seven more years to complete the project, which began in 2017 with its first phase opening in 2020, when <a href=\"https:\/\/one.livemetropica.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Metropica One<\/a> opened. \u201cIt will be a 15-year project from start to end,\u201d Kavana said.<\/p>\n<p>The new development comes as the South Florida condo market holds roughly 11.4 months of supply, the estimated time to sell current listings at today\u2019s pace, <a href=\"https:\/\/peterzalewski.substack.com\/p\/south-florida-awash-with-11-months\" target=\"_blank\" rel=\"nofollow noopener\">Condo Vultures reported<\/a>. County breakdowns show Miami-Dade at 12.5 months, Broward 11.5 months, and Palm Beach 10.1 months.<\/p>\n<p>In the luxury segment, with condos priced above $1 million, inventory stands near 11.7 months across the region. Some sub-markets, such as Greater Downtown Miami, have climbed to 16 months of resale supply, signaling a shifting landscape as new construction continues to rise.<\/p>\n","protected":false},"excerpt":{"rendered":"According to a report by Condo Vultures, at the start of 2025 the tri-county South Florida region had&hellip;\n","protected":false},"author":2,"featured_media":11136,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226,10510,10509,126,10513,10511,123,10512,9097,10508,807,10507,875],"class_list":["post-11135","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hialeah","tag-hialeah","tag-hialeah-headlines","tag-hialeah-news","tag-joseph-kavana","tag-k-group-holdings","tag-key-biscayne","tag-luxury-condo-sales","tag-metropica-sunrise","tag-miami","tag-miami-condo-market","tag-palm-beach","tag-sagaz-industries","tag-south-florida","tag-south-florida-condos","tag-south-florida-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/11135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=11135"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/11135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/11136"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=11135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=11135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=11135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}