Two developers have proposed a pair of high-rise towers that would replace a 40,000-square-foot building in St. Petersburg.

Invictus Real Estate Partners and Integritas Capital have closed on a $155 million construction completion and condominium inventory loan for Flow House, a 40-story residential tower located at 697 North Miami Avenue within Miami Worldcenter. The financing supports the project’s transition from a rental development to a condominium offering, which has become one of the fastest-selling new residential properties in the Miami market.

Local developers have proposed a multi-family housing development for Miami’s Goulds neighborhood.

South Florida-based Cymbal DLT Companies has secured a $27 million refinancing loan for 3452-3470 North Miami Avenue, a 25,000-square-foot existing mixed-use retail and office building located in Midtown Miami. Linkvest Capital provided the refinancing through its lending affiliate LV Lending, a Miami-based private lender specializing in bridge financing for commercial and residential investments. Cymbal DLT utilized this financing to repay an existing $19 million loan previously issued by New Wave in 2022.

Chicago-based 2455 Polk LLC has proposed a low-rise housing development in Broward County. Current plans call for a four-story development with 30 units, including one-bedroom and two-bedroom floorplans. The average residence will measure 735 square feet.