Coral Rock scores $54M construction loan for Live Local Act project in Allapattah

Coral Rock Development Group scored a $54 million construction loan for a Live Local Act project in Miami’s Allapattah.  Developers across South Florida have seized on the state workforce and affordable housing law by filing a flurry of proposals, but few have advanced their projects to the financing and construction stage.  Coral Gables-based Coral Rock plans to start construction in the first quarter on the eight-story, 227-unit Dulce Vida apartment building on a 1.3-acre site at 1785 Northwest 35th Street, according to the developer’s news release. Citibank is the lender.  The capital stack for the $85 million project includes $15 […]This article originally appeared on The Real Deal. Click here to read the full story.