Berkadia has recently marked a significant milestone by orchestrating acquisition financing for Tavalo Tradition. Situated in Port St. Lucie, Florida, this 216-town home build-to-rent community is part of the Tradition Master Planned Community. GTIS Partners oversees the buyer’s entity. The financing is a forward acquisition loan supplied by a national bank. It will be allocated incrementally, synchronized with K. Hovnanian’s construction progress, anticipated to span until mid-2024.
In a groundbreaking ceremony yesterday, the transformation of Ybor City took its first step as construction commenced on Canvas GWX, a community of townhomes with an “industrial chic” aesthetic. This residential project, located at 1218 East Kay Street – just outside the 50-acre GasWorx district, is poised to kickstart a wave of redevelopment in the heart of Tampa.
Demolition has commenced on a Quality Foods supermarket in Jacksonville, FL. In its place will be 7th and Hubbard, a mixed-use complex that could offer close to 200 units and various commercial ventures.
New renderings and site plans have unveiled the entirety of the vision for Miami World Towers, an expansive mixed-use development set to completely transform Block E within the 27-acre Miami Worldcenter complex in downtown Miami. Designed by Nichols Architects with Kimley-Horn as the landscape architect and developed by Miami World Towers LLC, an affiliate of Lalezarian Properties, this project comprises four towers set to redefine the Miami skyline further. Alongside the 53-story, 557-unit East Tower (referred to as Tower 1), which is currently under construction, the newly revealed plans and renderings introduce a 25-story North Tower and a 68-story South Tower (collectively known as Tower 2), as well as a 68-story West Tower referred to as Tower 3. These new towers are expected to contribute approximately 2,137,110 square feet of space, featuring 2,040 residential units, amenities, and 810 additional parking spaces. Combined with Tower 1, the four towers will yield 2,600 residential units and 3 million square feet of space. The proposal is set for review by Miami’s Urban Development Review Board on September 20.
Developers are working on the Gale Hotel & Residences. The venture, occupying seven of the 51 floors, will offer 240 luxury condos: 160 for short-term rentals and the remaining 80 as hotel/apartment units.