Shoma Group Elevates Coral Gables Living with New Luxury Development

A New Chapter in Coral Gables

In the heart of Coral Gables, a new luxury residential project is poised to redefine local living. Shoma Group, under the astute leadership of Masoud and Stephanie Shojaee, has acquired a prime development site situated at 3808-3850 Southwest Eighth Street. This acquisition represents a significant step towards the realization of their vision, guided by the principles of the Live Local Act.

Strategic Investment for Future Growth

The Shoma Group has invested $13.3 million for this 0.8-acre property, which translates to an impressive $16 million per acre. The purchase was made through a strategic affiliate, further emphasizing their commitment to enhancing the Coral Gables landscape. Benworth Capital Partners facilitated this ambitious acquisition by providing a $14 million mortgage, underscoring the financial confidence in this project.

Historical Context and Market Dynamics

The development site’s previous owner, Jorge Gonzalez, acquired the lot for $1.5 million back in 2001. The evolution of this property, now valued at nearly ten times that initial purchase price, reflects the robust appreciation of real estate in the Coral Gables area, an emblem of Miami’s thriving market. The strategic location within a community known for its tree-lined streets and Mediterranean-style architecture positions this project for success amidst the ongoing urban development.

Community-Centric Vision

The Live Local Act, which aims to promote affordable living and strengthen community ties, aligns seamlessly with Shoma Group’s development ethos. By integrating luxury living with local needs, they aim to foster a neighborhood that is both exclusive and accessible. This approach is particularly relevant in today’s Miami, where the demand for high-end residential options is matched by a growing desire for community-oriented spaces.

Architectural Aspirations

The architectural vision for the new project emphasizes elegance and modern design, harmonizing with Coral Gables’ distinctive character. Residents can expect meticulously crafted interiors, expansive views, and state-of-the-art amenities that cater to a lifestyle of sophistication. As architectural innovation continues to redefine South Florida’s skyline, this development will undoubtedly add to the area’s allure.

Implications for the Local Economy

Shoma Group’s investment is not just about real estate; it represents a broader commitment to the economic vitality of Coral Gables. As luxury developments proliferate, they attract affluent residents and businesses alike, catalyzing growth and enhancing local amenities. This project is anticipated to create numerous job opportunities during and after its construction, further invigorating the local economy.

Looking Ahead

As Shoma Group embarks on this exciting journey, the Coral Gables community watches with anticipation. With plans to blend luxury living with a community-centric approach, the development promises to be a hallmark of modern Miami life. The successful execution of this project could serve as a blueprint for future developments, demonstrating how urban growth can be achieved while honoring local heritage.

Editorial note: This article was created by A Bit Lavish Miami’s Magazine as an original editorial reinterpretation based on publicly available reporting. Original source: therealdeal.com. Read the original article here: https://therealdeal.com/miami/2026/05/14/shoma-group-pays-13-million-for-coral-gables-dev-site/.
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