Last November, Florida YIMBY reported on Alba Palm Beach, a 22-story condo slated for a spring 2026 completion. Now, we’ve learned that two developers want to proceed with another high-rise condo right next door.
Neology Development Group has closed an $84.5 million loan from affiliates of Apollo for The Julia Residences, a recently completed residential tower in Miami’s Allapattah neighborhood. The 14-story building, located at 1625 NW 20th Street, achieved a Temporary Certificate of Occupancy (TCO) in May 2024 and reached lease-up stabilization in just five months, with a 97% occupancy rate by October 2024. The property’s strong lease-up performance highlights its appeal in the growing Allapattah market.
Oak Row Equities has secured unanimous approval from Miami’s Urban Development Review Board (UDRB) for First & Fifth, a luxury multifamily tower designed by ODP Architecture & Design. Set to rise at 49 NW 5th Street in Downtown Miami, the project will span over 700,000 square feet and include more than 500 residential units. Located directly across from MiamiCentral Station, the hub for all four major train systems in South Florida, the transit-oriented development will offer unparalleled connectivity in a neighborhood experiencing rapid growth.
The Calta Group intends to start construction on a luxury townhome development this spring. The Coral Gables-based developer recently secured a $30 million construction loan for “Via Veneto”, which upon completion will offer 10 three-story residences.
The 902-foot Okan Tower in Downtown Miami has reached a key construction milestone, with work progressing to the 12th floor following the completion of its expansive 290,000-square-foot parking podium. This 70-story supertall tower, designed by Behar Font & Partners, is set to become one of the tallest buildings in the region when it tops off.
