River District 14 has obtained construction financing.
Forman Capital granted a $77,805,708 loan to an affiliate of Alta Development.
River District 14 will include two 16-story towers with 283 fully furnished condo units, allowing short term rentals.
More than 50% of units have been sold.
“The new construction condominium market continues to sizzle, and residences built for short-term rentals have proven to really resonate with buyers,” said Forman Chief Investment Officer/Principal Scott Mehlman. “Based on initial sales at River District 14, I think this will be a major success.”
Construction is expected to begin before the end of the year.
