$76.81 Million Loan Secured for ‘SoWy’ Mixed-Use Development in Wynwood and Overtown

More Development, an international real estate company based in Miami and Nassau, The Bahamas, has secured a $76.81 million loan for SoWy, an upcoming mixed-use development in Wynwood and Overtown, north of Downtown Miami. The loan was announced by More Development President Whitney Thier and provided by JP Morgan Chase. The nearly eight-acre SoWy project spans 26 parcels across six blocks along 2nd Avenue between NW 20th and 22nd Street. Before considering Live Local Act provisions, the site offers nearly 2.5 million base buildable square feet.

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Waldorf Astoria Hotel & Residences Secures Record-Breaking Construction Loan and Reaches Major Milestone in Downtown Miami

The Waldorf Astoria Hotel & Residences, a nearly 100-story luxury tower set to rise at 300 Biscayne Boulevard in Downtown Miami, has secured a historic $668 million construction loan, the largest ever for a residential condominium development in Florida. The project, developed by PMG, Greybrook, Mohari Hospitality, S2 Development, and Hilton, achieved this financing milestone with Bank OZK and Related Fund Management providing the funds.

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Miami Riverbridge Gains Unanimous Approval from City of Miami Urban Development Review Board

The redevelopment plans for Downtown Miami’s Hyatt Regency site have received unanimous approval from the City of Miami Urban Development Review Board. The updated project plans for Miami Riverbridge, presented by Hyatt Hotels Corporation and Miami’s Gencom under HRM Owner, LLC, were approved without any conditions at the board hearing. Construction is expected to begin in 2026, with an anticipated opening in 2030.

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