Forman Capital, a private direct real estate lender, has provided a $77.8 million loan to finance the construction of River District 14, a short-term rental condominium project in Miami. Developed by Alta Development, the project will be situated on a 1.3-acre site at 1420 NW 14th Ave., near the Miami River. Construction is set to commence before the end of the year.
New renderings have surfaced of The River District, a massive 4-million-square-foot mixed-use development under construction on the west side of Brickell, Miami. Designed by Kobi Karp Architects with Rockwell Group and ID & Design International handling interiors and developed by Chetrit Group, the 6.2-acre project will give rise to four glass skyscrapers planned to yield approximately 1,961 residential units, 29,600 square feet of restaurant space, 12,020 square feet of retail, 40,000 square feet of office space, 17 marina slips, and 2,000 parking spaces across five phases of construction. The first phase, a 54-story – 648-foot-tall tower at 275 Southwest 6th Street, is already underway, with G.T. McDonald Enterprises as the general contractor and Tekton Construction as the structural contractor.
The Chetrit Group’s vision for the 6.2-acre Miami River may finally come to fruition after landing a loan to begin construction. The New York City-based developer was granted $310 million in financing from Madison Realty Capital for the first two phases of the 4.2 million-square-foot mega project in Brickell, which is comprised of building the first of four towers and the additions and improvements to the riverwalk. The deal was arranged by Henry Bodek of Galaxy Capital Group, and is collateralized by the land for the last three phases. Kobi Karp is the architect for development, which will ultimately yield 1,928 residential units, 330 hotel rooms, 196,882-square-feet of retail space, and 98,040-square-feet of office space across multiple glass-clad towers along with boat slips, an outdoor theater, a residents lounge, a business center, a state-of-the-art gym, a pool, and a café.
The Federal Aviation Administration (FAA) has approved both the 640-foot-tall tower proposed to rise at 275 Southwest 6th Street and the two 760-foot-tall tower cranes that will assist in the vertical construction of the structure. The applications pertain to the first tower of 54 stories at Chetrit Group’s Miami River project, a 4.2-million-square-foot mixed-use development located in West Brickell. Award-winning Miami-based architect Kobi Karp is leading the design for the river-facing complex, while G.T. McDonald Enterprises is listed as the general contractor.
Meyer Chetrit’s vision for the 4.2 million-square-foot Miami River mixed-use complex is one step closer to becoming a reality. On June 30, 2021, the developer signed a utilities deal with Miami-Dade County on behalf of CG Miami River LLC, allowing for the connection of the 6-acre mega development to the city’s water and sewage system. According The Next Miami, the deal will include 1,843 residential units, 54,200 square feet of full service restaurants, 40,000 square feet of office space, 130,600 square feet of retail and 17 marina slips. Kobi Karp is the designing the four proposed towers with GT McDonald Enterprises managing construction.
