Developer 745 James LLC has secured a $21.5 million construction loan for a boutique hotel in Miami-Dade County. Sanctuary Hotel would measure five stories above grade and offer 90 rooms, occupying the former site of Sanctuary South Beach Condo.
Miami’s Building Department has issued a total demolition permit for the One Bayfront Plaza site at 100 South Biscayne Boulevard, marking the first step towards developing a new supertall tower in downtown Miami. The permit, approved on March 27, was finally issued on June 25.
The Related Group has new plans regarding two residential complexes in Miami-Dade’s West Little River Neighborhood. The original proposal, filed in 2023, involved demolishing Palm Court, an 88-unit complex, and renovating Palm Tower, a 103-unit development.
More Development, an international real estate company based in Miami and Nassau, The Bahamas, has secured a $76.81 million loan for SoWy, an upcoming mixed-use development in Wynwood and Overtown, north of Downtown Miami. The loan was announced by More Development President Whitney Thier and provided by JP Morgan Chase. The nearly eight-acre SoWy project spans 26 parcels across six blocks along 2nd Avenue between NW 20th and 22nd Street. Before considering Live Local Act provisions, the site offers nearly 2.5 million base buildable square feet.
An affiliate of Miami-based Resia is seeking approval for a multi-family housing development from North Miami City Officials. The North Towne apartments would comprise five, 12-story buildings, offering a grand total of 1,296 residences at full buildout.
