Financing Secured for New Development in Coconut Grove-Residences in the Grove
Residences in the Grove, a 148-unit luxury condominium at 2835 Tigertail Avenue in Miami's Coconut Grove area, has received a $43.2 million refinancing loan for construction.
The loan was financed through City National Bank of Florida and KS Finance Corporation. This loan will pay for site preparation and preliminary demolition in order to kick off the project.
The developers for the project include a joint venture with Terra Development and AB Asset Management. The five-story development, designed by Arquitectonica, will have a stunning design centered on a coral rock façade and sustainable features that will effortlessly mix in with Coconut Grove's current landscape and tree canopy. Also, the building will include about 22,000 square feet of street-level retail space with a health theme.
Tower Amenities:
- Gym
- Pool
- Social Lounge
- 174 residential units
- 22,070 square feet of commercial
- 344 parking spaces (all in the basement)
Residence Features:
- Elegant kitchen
- Spacious floor plans
- 10 ft. ceilings
- Stainless steel kitchen appliances
Construction is scheduled to begin this year with a completion date in Q4 2023 or early 2025. If you or someone you know have an interest in purchasing at Residences in the Grove, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
