BD Hotels has secured a $75 million construction loan to develop a 201-room hotel, the Nora Hotel, in the emerging NORA District of West Palm Beach. Metropolitan Commercial Bank provided the loan, which JLL’s Steven Klein and Mark Fisher arranged for financing. BD Hotels is working with NORA District master developers NDT Development, Place Projects, and Wheelock Street Capital.
A 29-acre property could be transformed into a massive mixed-income apartment complex. St. Pete Rising reports that the multi-phase Azalea Gateway would have 1,000 units, 300 of which would be affordable housing. Sources say this makes it one of the “largest public-private housing projects in the history of St. Petersburg.”
New renderings for the 41st Street Corridor Revitalization Project in Miami Beach have been revealed via a filing with the Miami Beach Design Review Board. The board is scheduled to review the updated proposal on July 2. The plans, initially reviewed last year, have been revised following feedback from the Florida Department of Transportation (FDOT). The Office of Capital Improvements Projects of the City of Miami Beach is the applicant, with Brooks + Scarpa serving as the prime consultant design firms Stantec and HLB Lighting Design.
The Nora District is one of South Florida’s most exciting ventures, expected to be the Wynwood of Palm Beach County. The multi-million-dollar venture broke ground in June 2023.
Tesla hopes to get approval for its third service and sales center in Miami-Dade County. The multi-million-dollar venture would require redeveloping an already-existing 78,026-square-foot warehouse that was built in 1984.
