Miami

Developers Lock In $215 Million In Construction Financing For The Wynwood Plaza

L&L Holding Company and Oak Row Equities announced they have closed on $215 million in construction financing for The Wynwood Plaza, a one-million-square-foot campus that will bring class-AAA office, residential, retail, and outdoor space to 95 NW 29th Street in Miami’s famed Wynwood Arts District. The developers, alongside project partner Shorenstein Properties LLC and co-investor Claure Group, secured the loan from Bank OZK. With full project financing now in place, major construction will commence immediately, with anticipated completion in 2025. 

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Developers Get Building Permits For 440-Foot-Tall 501 First Residences In Downtown Miami

The Federal Aviation Administration has approved permits for work on 501 First Residences, a 40-story residential building under construction at 501 Northeast 1st Avenue in Downtown Miami. Designed by Revuelta Architecture International and developed by Aria Development Group with AQARAT, the building will have over 400,000 square feet of space, including 448 fully-furnished luxury condominium units featuring interiors by Shim Projects and 3,127 square feet of commercial space. Beauchamp Construction is serving as the general contractor. 

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Plans Filed For The Edgewater Collective At 1900 And 2000 Biscayne Boulevard In Edgewater, Miami

Miami’s Urban Development Review Board (UDRB) is scheduled to review plans filed for the Edgewater Collective, a three-towered, mixed-use development at 1900 and 2000 Biscayne Boulevard in Edgewater. 1900 Biscayne Boulevard is a 42-story, two-towered structure designed by Kobi Karp Architecture and Interior Design Inc. with 872  residential units. 2000 Biscayne Boulevard, already under construction, is a 36-story tower designed by Dorsky + Yue International, which will contain 420 residential units. The overall project is being developed by 1900 Biscayne Property Owner LLC and 2000 Biscayne Fee Owner LLC, which are entities tied to a joint venture partnership between New York-based real estate developer Kushner Companies and Miami-based PTM Partners, and will yield 2,022,779 square feet of space including 1,292 residential units, ground floor retail space, and 1,007 parking spaces.

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Related Group Nabs $164 Million Construction Loan For 506-Unit Rental Tower In Brickell

Charlotte, NC-based Truist Bank has issued a $164 million construction loan to Miami’s acclaimed condo king, the Related Group, for the first of three skyscrapers slated for a prime 3.9-acre development site along Brickell Avenue, south of the Miami River. Commonly referred to as One Brickell Tower II, the 47-story structure is reportedly planned to rise approximately 478 feet at 77 Southeast 5th Street and yield 506 rental apartments. Arquitectonica is the architect for the entire mixed-use development, which includes the planned 75-story Baccarat Residences Miami and an 82-story hotel and residential tower. John Moriarty & Associates is the general contractor for the tower, which is expected to begin construction next month.

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