Grove Central

Terra And Grass River Secure $245 Million Permanent Loan For 23-Story ‘Grove Central’ Mixed-Use Development in Miami

Miami-based developers Terra and Grass River have secured $245 million in permanent financing for Grove Central, a newly completed mixed-use development at 2800 Southwest 27th Terrace in Miami’s Coconut Grove neighborhood. The loan, issued by JP Morgan Chase & Co., will be used to pay off the development’s existing construction loan, provided in 2021 by Apollo Global Management, and fund remaining public infrastructure improvements and upgrades to the adjacent Metrorail station. 

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Terra And Grass River Property Complete ‘Grove Central’ Mixed-Use Development At 2800 SW 27th Terrace In Coconut Grove, Miami

Terra and Grass River Property, deeply established development firms in Miami’s Coconut Grove neighborhood, have completed a mixed-use multimodal complex at Grove Central. Now open to residents, the transit-oriented complex includes mixed-income apartments and neighborhood retail along the Metrorail corridor at the entrance to Coconut Grove. Located at 2800 Southwest 27th Terrace, Grove Central features a 23-story residential tower with 402 units, encompassing multifamily, workforce, and co-living options, a new 1,250-space public parking garage, and approximately 170,000 square feet of neighborhood retail. This development is connected to the adjacent Coconut Grove Metrorail Station and integrates with The Underline linear park, Miami-Dade’s bus system, and the City of Miami’s trolley network.

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Sprouts Farmers Market To Open At Miami’s 23-Story Grove Central Mixed-Use Development in Coconut Grove

Sprouts Farmers Market, a popular Phoenix-based natural food supermarket chain, has inked a 24,014-square-foot commercial lease at Grove Central, a new 23-story mixed-use transit-oriented development currently under construction at 2780 Southwest 27th Avenue in Miami’s Coconut Grove neighborhood. The grocer’s newest Coconut Grove location is part of an expansion into Miami-Dade, marking its third store in the County with additional locations opening soon in Kendall and Homestead. Situated at the intersection of US-1 and 27th Avenue, the project is designed by Touzet Studio, a Miami-based design firm led by Carlos and Jackie Touzet in collaboration with architecture firm RSP Architects and Walter Meyer of New York’s Local Office Landscape Architecture.

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