Developers Break Ground on Phase Two of Miami’s ‘Link at Douglas’ with $125 Million Construction Loan

Credit: 13th Floor, Barings.

Construction has begun on CADENCE, the third residential tower at Link at Douglas, a transit-oriented development located at the intersection of Coral Gables and Coconut Grove in Miami. Designed by Arquitectonica and developed by 13th Floor Investments in partnership with Barings, the 35-story tower will deliver 432 market-rate apartments, with 12.5 percent of the units designated as workforce housing. Completion is anticipated in 2028.

Situated on a 7-acre site adjacent to the Douglas Road Metrorail Station, CADENCE is part of a broader vision to transform the area into a vibrant, mixed-use urban hub. The project is being financed through a $125 million construction loan arranged by a syndicate comprising Santander Bank and TD Bank. Construction is expected to take approximately 33 months.

CADENCE follows the successful completion of Link at Douglas’ first phase in 2023, which includes the 312-unit CORE and 421-unit CASCADE towers, as well as over 30,000 square feet of retail space anchored by a Milam’s Market. A fourth and final residential tower is also planned for the site and will contribute an additional 400 units.

“Securing this construction financing marks a major milestone in bringing the next phase of Link at Douglas to life,” said Daryl Shevin, Chief Financial Officer of 13th Floor Investments. “It reflects strong confidence in our vision and the demand for well-located, high-quality transit-oriented housing in South Florida.”

Link at Douglas is being realized through a public-private partnership with Miami-Dade County and its Department of Transportation and Public Works. The development is situated on publicly owned land via a ground lease, and includes over $17 million in privately funded infrastructure upgrades. These improvements include a fully renovated Metrorail station and a new public plaza that will interface with The Underline, Miami’s linear park and urban trail system.

“We’re proud to continue our partnership at Link at Douglas with the development of Cadence,” said Chris Cassella, Managing Director at Barings. “This project exemplifies the kind of forward-thinking, high-impact development we’re committed to, bringing smart density and long-term value to one of Miami’s most strategic locations.”

Cadence adds to 13th Floor Investments’ expanding multifamily portfolio in South Florida. The developer recently completed Savio, a 420-unit community in Delray Beach, and is currently working on the 398-unit Parks at Hallandale and the 383-unit Parks at Davie developments in Broward County. Since its founding in 2008, 13th Floor Investments has delivered more than 3,900 residential units and has a pipeline of over 4,800 additional units in various stages of development.

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2 Comments on "Developers Break Ground on Phase Two of Miami’s ‘Link at Douglas’ with $125 Million Construction Loan"

  1. Phase 1 was ugly enough…

  2. Great project for this area …♨️♨️

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