$76.81 Million Loan Secured for ‘SoWy’ Mixed-Use Development in Wynwood and Overtown

More Development, an international real estate company based in Miami and Nassau, The Bahamas, has secured a $76.81 million loan for SoWy, an upcoming mixed-use development in Wynwood and Overtown, north of Downtown Miami. The loan was announced by More Development President Whitney Thier and provided by JP Morgan Chase. The nearly eight-acre SoWy project spans 26 parcels across six blocks along 2nd Avenue between NW 20th and 22nd Street. Before considering Live Local Act provisions, the site offers nearly 2.5 million base buildable square feet.

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Revised Plans For The Arcadian In Fort Lauderdale Seek Site Plan Amendment

A Site Plan Level II has been filed for review, seeking a Site Plan Amendment with design deviation requests to increase the building floorplate and reduce tower stepbacks for The Arcadian, an 8-story mixed-use development set on a 3.35-acre site at 640 Northwest 7th Avenue in Fort Lauderdale’s Progresso Village neighborhood. This amendment aims to add 22 additional residential units to the project, bringing the total to 502 units. The developer also requests a height bonus incentive to increase the building height to 85 feet. The Development Review Committee (DRC) is scheduled to review this proposal today.

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