By Brian Bandell – Real Estate Editor, South Florida Business Journal
Feb 17, 2023
Startup homebuilder Onx, which utilizes a proprietary home manufacturing method, broke ground on a community in the Redland area of southern Miami-Dade County.
Startup homebuilder Onx, which utilizes a proprietary home manufacturing method, broke ground on a community in the Redland area of southern Miami-Dade County after obtaining a $20 million construction loan.
New Wave Loans Residential granted the mortgage to Onx Odagled Grand Plams LLC, an affiliate of Carrollton, Texas-based Onx. It covers the 20-acre site at 1100 Southwest 344th Street/Palm Drive, which is just west of Redland Road in the largely agricultural area.
The developer filed notice with the county that it started building 137 single-family homes in the On Alba community there. Homestead-based Contec South Florida is the general contractor.
Onx President and CEO Ash Bhardwaj described his building method that delivers individual homes in 60 days or less last year. Under X+ Construction, major elements of the homes are manufactured off-site and delivered ready to the job site, where they are quickly installed.
Onx has manufacturing plants in Florida City and Pompano Beach.
By building the home faster and with fewer expenses, that should allow the developer to offer lower prices.
According to Onx’s website, homes in On Alba start at 2,281 square feet for the low $500,000s.
Story Link: https://www.bizjournals.com/southflorida/news/2022/10/28/onx-builds-homes-in-miami-dade-in-under-60-days.html