Miami-based Crescent Heights hopes to get approval for a 26-story mixed-used tower west of the Adrienne Arsht Center for the Performing Arts. The unnamed venture would comprise 184,135 square feet of new construction.
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.
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.
Terra has finalized construction on Doral Atrium, a 78,000-square-foot retail space in the City of Doral. Concurrently, the firm has announced a 1,480-square-foot lease with TREMBLE Pilates Studio at the location. This marks TREMBLE’s eighth South Florida branch, adding to an expanding national presence. Located at the intersection of Doral Boulevard and 79th Avenue, Doral Atrium occupies 5.2 acres. Grycon served as the general contractor, alongside C&C Concrete Pumping as the concrete contractor, and Central Concrete Supermix provided concrete building materials.
Kimco Realty, a New York-based developer, hopes to get approval for two 12-story towers in Kendall, Florida. The high-rise buildings would offer a total of 630 apartments.
