Continuum Co. and Aksoy Holdings have secured a significant $350 million in financing for their master-planned Continuum Waterfront District project in North Bay Village, Florida. This substantial investment will fuel the development of a four-acre mixed-use complex along Biscayne Bay, featuring residential towers, a hotel, marina, and public amenities.
Key Takeaways
- A total of $350 million in financing has been secured for the Continuum Waterfront District.
- The project includes two phases, with Phase One receiving $261 million in construction financing and Phase Two receiving $83 million in pre-development financing.
- The development will feature residential towers, a hotel, a marina, waterfront dining, office space, and a public promenade.
Project Overview
The Continuum Waterfront District is set to transform a four-acre site in North Bay Village into a vibrant mixed-use destination. The development, a partnership between Continuum Co. and Aksoy Holdings, will be anchored by two gated residential towers, the first Continuum-branded hotel, and a 20-slip commercially zoned marina. The master plan also incorporates waterfront dining options, office spaces, and the "Island Walk," a public green space designed as a bayfront promenade.
Phase One Details
The initial phase, named Continuum Club & Residences West, is already under construction and is slated for completion in July 2028. This 36-story waterfront condominium tower will offer 236 residences. Residents will have access to a waterfront restaurant and the marina, along with amenities such as two swimming pools and a Jacuzzi plunge pool with stunning views of Biscayne Bay. This phase received $261 million in construction financing.
Phase Two Plans
Phase Two of the development, targeted for completion in 2030, will introduce Continuum Club & Residences East, a 300-unit tower. This phase will also see the debut of the Continuum hotel, a member of Preferred Hotels & Resorts. Additionally, Phase Two will expand the dining and retail offerings, further develop the 20-slip marina, and complete the "Island Walk" promenade. This phase secured $83 million in pre-development financing.
Miami’s Booming Real Estate Market
This significant investment underscores the continued strong interest from lenders in Miami’s condominium market. Recent months have seen several large financing deals for similar projects across the Greater Miami area, including substantial loans for developments in Hollywood and Miami Beach, highlighting the region’s appeal for real estate investment.