The Calta Group Acquires Site At 915 Palermo Avenue In Coral Gables For Residential Redevelopment
AUGUST 9, 2023
The Calta Group, a real estate powerhouse led by brothers Ignazio and Gaetano Caltagirone and Igor Blatnik, recently announced the acquisition of a Coral Gables multifamily development for an impressive $12 million. The 32-unit rental property at 915 Palermo Avenue enjoys a prime location near the iconic Venetian Pool and the historic Biltmore Hotel—two of Coral Gables’ most cherished landmarks. With a strong emphasis on redeveloping the one-acre site, The Calta Group envisions transforming the property into an upscale boutique residential offering that will elevate the Coral Gables neighborhood. The group’s commitment to reimagining the property highlights their dedication to setting new standards for luxury living in the area. Gaetano Caltagirone, President of The Calta Group, expressed enthusiasm for the redevelopment opportunity and assured that more details about their ambitious plans for the site would be revealed shortly. Boasting a rich Italian heritage and a history of over $1.5 billion in transactions, The Calta Group has solidified its position among the elite developers in South Florida since its inception in 2010. The company’s diverse project portfolio, currently exceeding $250 million in developments, encompasses ultra-luxury single-family residences and Class A multifamily properties, catering to a discerning clientele from New York, local regions, and international destinations. The Calta Group is constructing 13 single-family homes across prestigious neighborhoods such as Coral Gables, Coconut Grove, Pinecrest, Brickell, and Ponce Davis. Additionally, the company is developing Revv, an ambitious eight-story, 180-unit apartment project in Hollywood, Florida, further underscoring its dedication to creating exceptional living spaces throughout South Florida.