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Mercedes-Benz Places — Miami will be the first residential tower for the luxury car brand in the United States.

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Developers are offloading parcels for mixed-use, condo, townhome and multifamily projects, as some struggle to land equity investors or bank financing.

Overtown's Block 19

The new development will include both market-rate and workforce housing apartments, along with parking facilities for residents and visitors.

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Unlike much of the redevelopment now enveloping Miami, the plan spearheaded by Coconut Grove-based developer Swerdlow Group is aimed squarely at low-income and middle-class Miamians who are now finding it increasingly unaffordable to live in the city, especially in the urban core.

The loan marked a new record for a single tower, residential construction loan.