A significant financial milestone has been reached for a new luxury residential development in Miami’s Edgewater neighborhood. SB Development Group and Hazelton Capital Group have successfully secured $170 million in construction and land financing, paving the way for the construction of a prominent 40-story tower.
Key Takeaways
- $170 million in construction and land financing has been secured.
- The project is a 40-story luxury residential tower in Edgewater.
- Bravo Property Trust is the financing partner.
- The development is named Cove Miami.
- The tower will feature 134 luxury residences.
- Kobi Karp and Dieguez Fridman are the lead architects.
Project Details
The newly financed project, known as Cove Miami, is poised to become a striking addition to the Edgewater skyline. The development will feature 134 high-end residential units, catering to the luxury market. The securing of substantial financing from Bravo Property Trust underscores the confidence in the project’s viability and the strength of the Miami real estate market.
Architectural Vision
The architectural design of Cove Miami is being handled by the renowned firms Kobi Karp and Dieguez Fridman. These architects are expected to bring a sophisticated and modern aesthetic to the tower, complementing the vibrant Edgewater community. Renderings suggest a sleek design that will enhance the area’s visual appeal.
Future Outlook
With financing now in place, the developers are expected to move forward with the construction phase of Cove Miami. This development represents a significant investment in the Edgewater area, promising to bring new luxury housing options and contribute to the ongoing growth and revitalization of the neighborhood.