Miami-based Related Group has secured funding for Residences at Marina Village, an affordable housing development in Riviera Beach. The $92.6 million in financing came from three entities: Manufacturers and Trusters Trust Co., the Florida Housing Finance Corp, and Bank of New York Mellon Corp.
Grupo T&C has received approval from the City of Miami’s Urban Development Review Board for Edge House Miami, a 57-story luxury home-sharing tower planned for 1825 NE 4th Avenue in the Edgewater neighborhood. Designed by Kobi Karp Architecture & Interior Design, the development will rise 649 feet and deliver 608 turnkey units ranging from studios to three-bedroom layouts.
Florida YIMBY has an update regarding a hotel we covered in 2023. Miami-based Baywood Hotels has started construction on the Element by Westin hotel, a six-story project requiring close to 80,000 square feet of new construction.
El-Ad National Properties, a South Florida-based subsidiary of Elad Group, has secured an $85 million construction loan from Valley National Bank to advance vertical development of The District in Davie. The $1 billion, 2.8-million-square-foot mixed-use project is the largest multifamily development in the town’s history.
Following the completion of its 72 Park project in Miami-Dade County, developer Lefferts is proceeding with a luxury condo right across the street. 72 Carlyle is set to measure 70 stories above grade and comprise 134 homes.
