Miami Beach Mixed-Use Development
Miami Beach is set to welcome a new mixed-use development backed by a $19 million construction loan from Amerant Bank. The project, led by the Finvarb Group, will feature restaurants and residential units at 1790 Alton Road, just blocks from Sunset Harbor. With 34,679 square feet of space, the five-story buildings will include dining options and a rooftop pool, catering to both locals and visitors. As the real estate market thrives, this development promises to enhance the area’s appeal.
Miami Beach is buzzing with anticipation as the Finvarb Group has secured a remarkable $19 million construction loan for a brand-new mixed-use project! This project, which is set to change the landscape of the area, is being financed by Amercant Bank and will be carried out by SoBe 18 LLC, the company led by the visionary Ronald Finvarb.
The new development is strategically located at 1790 Alton Road, just three blocks west of the vibrant Sunset Harbor. This prime location is expected to attract not only local residents but also visitors looking for a taste of Miami Beach culture.
City officials gave the green light for this exciting five-story project back in 2022. When completed, the development will encompass a substantial total area of 34,679 square feet. What’s on the menu, you ask? Two fantastic restaurants! The ground floor will host an 81-seat eatery, while the second floor will boast a larger 240-seat restaurant. With food being a centerpiece of Miami Beach’s appeal, these venues are likely to draw significant crowds.
But that’s not all—residents can look forward to a collection of 12 residential units occupying the upper floors. These units will range in size from 724 to 1,185 square feet, perfectly catering to various lifestyle needs. A rooftop pool is also in the works, promising a refreshing escape with stunning views of the Miami skyline.
In a city known for its bustling streets, parking can be a challenge. However, this project will smartly utilize vehicle stacking to provide 19 parking spaces on the first floor, ensuring convenience for guests and residents alike. The finishing touches on this modern design are being crafted by local architectural firm Studio Mc+G, which is known for its innovative designs.
The Finvarb Group made its first move back in 2021 when it purchased the development site for $4 million. With Miami Beach being one of the hottest real estate markets in South Florida, it’s no surprise that the project is attracting such substantial financing. The area is famous for soaring home values, encouraging larger construction loans per unit—an indication of the viability and potential success of new developments.
Restaurants are a crucial element of Miami Beach’s commercial scene and often enjoy high traffic and occupancy rates. This makes the addition of two restaurants in this mixed-use development all the more promising. With beachgoers, locals, and tourists always seeking dining experiences in this beautiful city, the restaurants are expected to become popular spots soon after opening.
Interestingly, Amerant Bank has become a significant player in the construction lending landscape, with commercial real estate and land financing expanding by more than 60% last year. This investment in Finvarb’s project is just a glimpse of the activity taking place in the region.
As the project takes shape, residents and visitors alike are eagerly waiting to see how this mixed-use development will add to the charm of Miami Beach. It’s an exciting time in this stunning coastal city!
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