Related Group Nabs $164 Million Construction Loan For 506-Unit Rental Tower In Brickell

8:00 am on January 6, 2023 By Oscar Nunez

Charlotte, NC-based Truist Bank has issued a $164 million construction loan to Miami’s acclaimed condo king, the Related Group, for the first of three skyscrapers slated for a prime 3.9-acre development site along Brickell Avenue, south of the Miami River. Commonly referred to as One Brickell Tower II, the 47-story structure is reportedly planned to rise approximately 478 feet at 77 Southeast 5th Street and yield 506 rental apartments. Arquitectonica is the architect for the entire mixed-use development, which includes the planned 75-story Baccarat Residences Miami and an 82-story hotel and residential tower. John Moriarty & Associates is the general contractor for the tower, which is expected to begin construction next month.

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Developers Attain Construction Financing And Break Ground On Orchid Lake In Cocoa, Florida

8:00 am on January 5, 2023 By Oscar Nunez

Housing Trust Group (HTG) and Housing for Homeless, Inc. have closed on financing and broke ground on Orchid Lake, a new $30 million affordable housing community located at the southwest corner of University Lane and Michigan Avenue in Cocoa, Florida. Designed by FK Architecture with Manley Design as the landscape architect and DRMP as the civil engineer, Orchid Lake will be a three-story community offering residences in a mix of one-, two-, and three-bedroom floor plans featuring interiors by Builders Design. Hennessy Construction is the general contractor, and work is expected to complete in early 2024.

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Renderings Surface For 35-Story Tower Soon To Break Ground In Downtown Tampa’s North Side

8:00 am on January 4, 2023 By Oscar Nunez

Renderings have surfaced for a 35-story mixed-use building planned for a 34,000-square-foot site at 505 East Tyler Street and 914 North Morgan Street in the North Downtown submarket of Downtown Tampa. Designed by Arquitectonica and developed by Cantor Silverstein Opportunity Zone Trust, Inc., a Qualified Opportunity Fund and joint venture partnership between New York-based developer Silverstein Properties and financial firm Cantor Fitzgerald L.P., the approximate 363-foot-tall structure will comprise 770,000 square feet of space including 450 residential units with associated leasing office/lounge, 11,500 square feet of amenities, 9,430 square feet of ground floor restaurant/retail space.

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