The bankruptcy auction has been accused of unfairly leaving out other bidders.
The loan will fund One West Twelve Residences (One W12), a 22-story development with 372 units planned at 105 Northwest Eleventh Terrace. The short-term-rental-friendly condo project will feature a mix of studio and one-bedroom condominiums, along with a limited number of townhouse-style units.
The project is planned to encompass nearly 830,000 square feet, including 278 apartments, more than 100,000 square feet of office space, and roughly 56,000 square feet of retail.
The Miami City Commission offcials are considering proposals to transfer city-owned land at no cost and provide millions of dollars in financial incentives to two developers planning affordable housing projects in Little Havana.
The full project is expected to wrap up in late 2029, ultimately reshaping how traffic moves through the heart of Miami.
Developed by Turkey’s Okan Group, the Okan Tower features sweeping curves inspired by the silhouette of a tulip, Turkey’s national flower. The new skyscraper, now under construction, will rise nearly 908 feet across 70 stories.
Located at 3101 Grand Avenue, Ziggurat will feature a five-story, 100,000-square-foot Class A office building and an 18-unit luxury condo building, along with roughly 45,000 square feet of ground-floor retail.
Bringing an expansive lineup of creativity across the city, signature art fairs are making a major return for Art Basel and Miami Art Week.
Despite signing the record-breaking lease last year, the bank never moved into the space and any interior build-out was left unfinished. The bank’s signage still remains on the building’s exterior.