LCOR lands $193M construction loan for Edgewater tower amid flurry of apartment projects
LCOR scored a $192.5 million construction loan for a 544-unit luxury apartment tower in Edgewater, as developers are excitedly pursuing multifamily projects across South Florida, despite a lingering oversupply. New York-based LCOR started construction of a 39-story building at 1775 Biscayne Boulevard in Miami, according to the developer’s news release. The 1.1-acre site is a block from waterfront and Margaret Pace Park. The construction loan amounts to $354,000 per unit. Designed by ODP Architect, with interiors by Asprea Studio, the tower will include more than 40,000 square feet of amenities, over 10,000 square feet of ground-floor retail and a 448-space […]This article originally appeared on The Real Deal. Click here to read the full story.
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