Trez Capital Funds $60 Million Construction Loan For Multifamily Development In El Portal
The Kavista will feature 282 rental units on a two-acre site at 495 NE 83rd St.
The Kavista will feature 282 rental units on a two-acre site at 495 NE 83rd St.
The second phase will consist of 342 rental units on a 2.7-acre development site with over 400 feet of unobstructed water frontage along the Miami River.
Still in the planning stages, Fifield looks to develop a mixed-use apartment community on their newly acquired site.
The current zoning for the 0.69-acre site permits high-density development, including residential, commercial/retail, lodging, civic and civil support.
Mast Capital submitted site plans for a master-development totaling 2.6 million square feet.
The Castle Beach Club site represents the rare opportunity for developers to build a project that would re-shape the Miami Beach Skyline.
In addition, Berkadia lined up a $280.3 million loan for the acquisition.
The project consists of 90 rental apartments and 9,642 square feet of ground floor retail.
Echelon Fitness is set to occupy 10,035 square feet.
The site is currently zoned for T6-24A-0, which will allow for a building up to a height of 48 stories. The site is also located within a federally designated Opportunity Zone.
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