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Developer Secures $47.5 Million Construction Loan for ‘Forté Luxe’ at 12450 Crystal Cove Place in Jupiter, Florida

Forté Development has secured a $47.5 million construction loan from 360 Capital Funding for its luxury boutique waterfront community, Forté Luxe, in Jupiter, Florida. The loan, finalized on July 3, 2024, will finance the development of this project. Alfonso Jurado is the architect, Interiors by Steven G. handles interior design, and KAST Construction is the general contractor. Douglas Elliman Development Marketing is the exclusive sales team.

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25-Story Residential Tower In Edgewater To Be Named ELLE Residences Miami

ELLE Residences Miami will bear the ELLE name as part of a licensing agreement signed with Lagardère Médias News, owner of the ELLE brand. Designed by Behar, Font & Partners and developed by Urban Network Capital Group (UNCG) and Vertical Developments, the 25-story condo will feature 180 units, with short-term rentals permitted. Through affiliate Residences at 5th Avenue LLC, the developers filed plans earlier this year for the 19,292-square-foot site at 445 and 455 Northeast 36th Street and 3618 and 3630 Northeast Fifth Ave in Edgewater. The site was acquired for $13.5 million in 2023.

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Urban Development Review Board Votes In Favor Of Massive Mixed-Use Development In Overtown, Miami

The Urban Development Review Board (UDRB) has voted in favor of a mixed-use development project at 650 Northwest 8th Street and 678 Northwest 7th Street in Overtown, Miami. The planned project, a collaboration between 0101 Miami Properties, LLC, led by Jorge and Jose Mas, and 8th Street Connections Holdings, LLC, an affiliate of Terra, will encompass over 1.8 million square feet., yielding 1,215 residential units, 16,347 square feet of commercial space, and 1,831 parking spaces.

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Application Seeking Design Review Approval Filed For Planned Office Building At 1100 5th Street In Miami Beach

An application has been filed seeking design review approval for a new 5-story commercial office building at 1100 5th Street in the South of Fifth neighborhood of Miami Beach. Designed by Eduardo Souta de Moura with Zyscovich Architects serving as the executive architect, and developed by Sumaida + Khurana in partnership with property owners Roslyn and Norton Nesis and Robert and Miriam Weiss of Weiss Properties, the approximate 80-foot-tall structure is planned to yield roughly 101,424 square feet in total size of gross new construction area with a F.A.R. of 65,274 square feet, including 43,797 square feet of office space, 7,142 square feet of indoor and outdoor amenities, 7,204 square feet dedicated to a ground floor restaurant, and 105 parking spaces. The Miami Beach Design Review Board is set to review the application on June 6.

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CREI Holdings Secures $67 Million In Construction Financing For ‘ Li’l Abner III’ Affordable Housing Project In Sweetwater, FL

CREI Holdings has secured a $67 million construction loan from Centennial Bank to build an affordable workforce housing mid-rise building at 455 Northwest 114th Avenue in the City of Sweetwater, Miami-Dade County. Construction of Li’l Abner III is set to begin in the second quarter of 2024 and be completed in the second quarter of 2026. Prospective tenants can now register for future leasing opportunities.

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