Related Group and Merrimac Ventures secured a $160 million construction loan for their Waldorf Astoria Residences Pompano Beach condo development. Arkansas-based Bank OZK (NASDAQ: OZK) provided the mortgage to the developers for the 28-story project at 1350 S. Ocean Blvd. with 90 condos branded by Hilton. The developers broke ground on the 1.71-acre site in April, so this loan will help them carry it through completion. The developers said 70% of the condos at Waldorf Astoria are pre-sold. Generally, when a condo exceeds…

Congratulations to Mill Creek Residential on the start of preleasing at Modera Riverside, a key new residential development in the heart of the Miami Riverside Center master plan. Designed by Nichols Architects, the 36-story high-rise brings 428 homes and over 4,000 square feet of retail to a transit-rich site at the edge of Brickell, Downtown Miami, and the Miami River District. With a Walk Score of 93 and a Transit Score of 100, the building was envisioned as a central…

The Sarasota Planning Board recommends Comprehensive Plan and Rezoning approval for a plan to build new condo towers and preserve the Mira Mar building. During the city’s presentation of the quasi-judicial hearing, Long Range Planning Director David Smith cited points of opposition mostly related to the zoning creep precedent, a gradual movement of the permitted Downtown Bayfront into Downtown Core, which limits height to 10 stories and density to 50 units per acre. At 70 condos, though, Seaward countered the…

This Thursday, our team toured the 36-story residential tower developed by Mill Creek Residential in Downtown Miami. Designed by Nichols Architects, Modera Riverside stands 410 feet tall and yields 428 market-rate rental units, amenities, and ground-floor retail. The tower is approaching completion, with millwork installing underway in several floors, exterior painting completed on the tower’s exteriors and tiles being now installed on the street level plaza. It was a great learning experience to be in the jobsite with our experienced…

Seaward Development has a pre-application conference with the Development Review Committee to start the rezoning process from Downtown Core to Downtown Bayfront. By Andrew Warfield Although it was merely a pre-application hearing, Seaward Development and its legal counsel Brenda Patten laid out detailed plans for the restoration and preservation of the historic Mira Mar building in downtown Sarasota and the residential development, designed by Nichols Architects, that will make it possible. During the Nov. 6 meeting of the city’s Development Review…