Vestcor Companies and the Simpson Organization have received final approval for a mixed-use venture in Jacksonville. The Lofts at Southbank will measure 10 stories above grade, combining affordable housing with a self-storage aspect. The final approval comes on the heels of public opposition, architectural changes, and other obstacles.
Construction has started on Bay Harbor Towers, an eight-story residential venture in the eponymous Bay Harbor Islands. Led by PPG Development, the community will offer 44 condos, offering two-bedroom to four-bedroom floorplans.
Berkadia has arranged a $103 million construction take-out loan for The Gardens Residences, a mixed-use multifamily project in North Miami being completed in two phases. The financing was secured by Berkadia’s Senior Managing Director Charles J. Foschini, Managing Director Christopher Apone, Vice President-Originations Lourdes Carranza-Alvarez, and Associate Director Shannon Wilson on behalf of the sponsor, Omega Real Estate Management, a vertically integrated real estate management company focused on redeveloping downtown North Miami.
An affordable housing developer is seeking funding for a 60-unit complex in Miami-Dade County. Flagler Villas would comprise 60 affordable residences, reserved for seniors earning up to 30 percent of the area median income (AMI).
Boca Raton-based Mill Creek Residential could replace a mixed-use building with a 12-story residential venture in Palm Beach County. Modera Boca would comprise close to 330,000 square feet of leasable space.
