An affiliate of VS Real Estate could build an apartment complex featuring workforce housing in Opa-locka. Alexandria Gardens would comprise 216,152 square feet of new construction amongst seven four-story buildings. It would offer 225 apartments.
As South Florida’s population continues to grow, so does its affordability challenge. According to Miami Homes For All, the tri-county area currently faces a shortage of 90,181 housing units for households earning below 80 percent of the area median income, estimated at around $75,000 annually.
Developers Related Group and Integra Investments have announced the closing of $527 million in financing for St. Regis Residences, Miami, a highly anticipated residential tower located on the Biscayne Bay waterfront in Miami’s South Brickell neighborhood. The loan, provided by TYKO Capital, marks one of the largest residential construction loans in South Florida’s history.
MAS Development and Agador Spartacus, two South Florida-based developers, have plans for a build-to-rent community in Northeast Florida. Magnolia Villas at Jacksonville would offer 100 units “comprised of two-story townhomes and two-story walk-up flats”.
Construction at The Standard Residences, Midtown Miami, a 12-story pied-à-terre-style building, has reached its topping-off milestone, and window installation has progressed up to the eighth floor. The project previously secured $45.045 million in financing from Bank OZK and has announced two major food and beverage offerings: Solana by Juvia Group on the rooftop and Rosetta Bakery Café & Privato Speakeasy on the ground floor.
