Aconcagua Pulls $30M Permit for Casa Princeton III in Homestead

Miami-Dade County issued a $30.4 million building permit on August 4 for a 162-unit, eight-story apartment building at 12875 SW 248th St in Homestead’s Princeton neighborhood. Permit 2026062859 lists Casa Princeton 248 III Land LLC, a single-purpose entity, as developer of record and T & G Corporation, doing business as T & G Constructo, as general contractor. Behind the SPE is Aconcagua Group, the Brickell-based multifamily developer led by Martin Muniz and Horacio Bossi, closing out the third and final phase of its Casa Princeton project.

Why it matters

Aconcagua has been building this corridor in stages since at least 2024, when it completed Casa Princeton’s 62-unit first phase. A 150-unit second phase followed, targeted for completion around August 2025, before this permit funds the tower that finishes the assembly. That is a developer with a built track record pulling the permit that completes a project it started eighteen months after first filing plans, not a one-off filing from an unknown sponsor. South Florida multifamily supply keeps concentrating in Homestead and Princeton because land is cheaper there and workforce demand is real. Aconcagua markets Casa Princeton as workforce housing at market rents, not an income-restricted LIHTC or Live Local Act deal, so this permit adds supply without the affordability paperwork some nearby projects carry.

The numbers

The permit values the work at $30.4 million across 192,875 square feet and eight stories, covering all 162 units of this final phase. Once complete, the three-phase Casa Princeton campus totals 374 units. Aconcagua first proposed this phase in February 2025, so roughly eighteen months separate the initial filing from a vertical construction permit.

What’s next

Watch for T & G Constructo’s mobilization timeline and a certificate-of-occupancy target now that the permit is active. Aconcagua also has a 239-unit building proposed for Naranja, a few miles south, filed in May 2025. A second permit there within the next year would confirm this developer intends to keep building south Miami-Dade’s workforce housing pipeline rather than exit the corridor once Casa Princeton delivers.