Scheduled to break ground in late 2025, Grover Corlew has already invested more than $10 million in interior renovations at 600 and 700 Hillsboro Boulevard and signed leases for more than 20,000 sq. ft. of office space with several big-name tenants.
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The proposed project is slated to include 734 apartments, 150 hotel rooms and 300,000 square feet of commercial, self-storage space.
Robert Kaplan and Mark Rutherford of Cushman & Wakefield secured the financing through Forman Capital and Core Capital on behalf of the developer North Development, a joint venture between Miami-based Oak Development, led by veteran developer Ricardo Dunin, and Peru-based Edifica.
Here are the most popular news headlines this past week on CRE-sources.
The 8-story project will have 328 one- and two-bedroom apartments. Of these, 40 percent will be designated for households with an income at 80 percent of the area median income, while the remaining 60 percent will cater to households with an income at 120 percent.
The site spans 50,782 square feet on a 1.17-acre plot in Little Havana.
Proposals must be submitted no later than 3 p.m. EST on June 28, 2024.
The property, which launched in late 2021 and is now more than 95-percent sold, is currently under construction and is expected to complete in early 2028.
Here are the most popular news headlines this past week on CRE-sources.