Terra And Lion Development Group Acquire Prime Property For ‘Iconic’ Condominium Tower Designed By Arquitectonica In Miami
In partnership with Lion Development Group, Miami-based Terra has acquired a prominent 1.6-acre property at 3501 Northeast 1st Avenue in Miami for $40 million. The site’s strategic location will transform into an iconic luxury condominium tower at the intersection of highly sought-after neighborhoods, including the Design District, Midtown, Wynwood, and Miami Beach. The esteemed architectural firms Arquitectonica and Yabu Pushelberg have been entrusted with the design of this forthcoming landmark. Metropolitan Commercial Bank has provided $30 million in financing to facilitate the property acquisition and fund initial site development, paving the way for groundbreaking in 2024. The completion of this project is estimated for 2026.
