New Multi-Family Apartments Slated for Downtown Miami

by Isaac Benmergui, Esq on July 22, 2012

Love Funding and Wood Partners have secured a $26.8 million loan for the construction of Alta Mira Apartments. Construction will begin in July with occupant ready units available in February 2013.

Love Funding financed the loan through the U.S. Department of Housing and Urban Development with a fixed, low-interest rate for the first 16-months for construction and the remaining 40-year term of the loan.

Wood Partners develops and manages high-density and mixed-use communities throughout the nation and notes that Miami’s last multi-family development was constructed in the 1990s.

Alta Mira will bring more than 100 direct and indirect jobs to Miami and have  $5 million positive economic effect on the city. With 240 apartments, energy efficient appliances, the units will also have access to a 3,680 square foot clubhouse, fitness center and kid’s playroom.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your commercial legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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