View Single Post
  #15  
Old Posted Sep 9, 2017, 5:17 PM
chris08876's Avatar
chris08876 chris08876 is online now
7-hydroxymitragynine
 
Join Date: Jul 2013
Location: New Jersey - Somerset County
Posts: 29,571
Verzasca scores $6.4M loan for apartment project on Biscayne Boulevard

Quote:
Verzasca Group scored a $6.4 million pre-development loan for its 2000 Biscayne apartment tower in Edgewater, property records show.

North Miami Beach-based New Wave Loans provided the loan, records show. Plans for Verzasca’s 36-story, 393-unit apartment tower were approved by the city of Miami’s Urban Development Review Board in June. The Russian development firm originally planned to build condos on the 32,775-square-foot site at 2000 Biscayne Boulevard, which it purchased in March 2016 for $13 million.

Pre-development costs usually cover market and traffic studies, including possible zoning changes among other factors. A spokesperson for Verzasca said the developer plans to break ground on the project during the third quarter of 2018.

Fort Lauderdale-based Dorsky + Yue created the designs for 2000 Biscayne. The project will include 25 studios, 175 one-bedrooms, 181 two-bedrooms, 12 three-bedrooms and an eight-story parking garage.
=====================
TRD
Reply With Quote