43-Story Tower At Worldcenter Gets $143M Construction Loan, Groundbreaking Soon

Another tower is about to begin construction at Miami Worldcenter.

Luma at Miami Worldcenter was granted a $143M loan to begin construction, according to Commercial Observer.

Moinian Capital Partners provided the debt, along with 60 percent of equity ($23.7 million).

The 43-story tower will include 434 apartments ranging from 566 square feet to 1,808 square feet.

Luma will be the “highest-end product in the market,” a managing director for the lender said. The building will feature luxurious amenities and unencumbered views of Biscayne Bay.

Moinan believes that the rental market is the future for Miami, and they are very comfortable that they will be successful leasing it, the director said. Proximity to transportation, including Virgin Trains and Metromover, is part of the appeal.

Completion is expected in late 2021.

 

 

The site being cleared last week:

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Anonymous

“Unencumbered views of Biscayne Bay” ???

Anonymous

That means you get a one inch slit of the bay between the buildings on the Boulevard that are obstructing the open bay view!

Anonymous

?

Anonymous

1808sq ft?.. I’m not even asking what the rent is for these units.

Anonymous

A studio in Caoba is $2000+ so you can only imagine.

Anonymous

Weird render for citizen M considerinf its a bright red crossworld puzzle

Anonymous

Lipstick (ugly cladding) on pig (box) instead of better architecture.

Anonymous

if its like 1111 lincoln rd garage …looks good

Anonymous

I spy a giant parking garage too.

Anonymous

What is it with you people has this angst about parking garages?

JFC

THEY MAKE THE CITY LOOK LIKE CRAP AND THEY DON’T CREATE VIBRANT PUBLIC SPACE. WHAT IS SO HARD TO UNDERSTAND ABOUT THAT?

FuThSh

more and more parking + less and less transit = more and more dangerous streets for everyone
There’s lots of reasons.

Anonymous

Unless it’s a streetcar/light rail, transit will ruin the streetscape with a giant overpass anyway.

Anonymous

Developers’ job is to make money and building new buildings. To create vibrant public spaces and to implement a reliable public transportation system is the state and local politicians job. This is an election year in Miami, so please make sure you get your ass out there and VOTE!!!!! Watching the GoT and complaining in this forum DOES NOT SOLVE ANY OF THOSE PROBLEMS.

Anonymous

truer words never spoken…….

Anonymous

These clowns know that.. they just want a forum to voice their outrage..

Take it to City Hall clowns.

Anonymous

This dude is upset about parking garages because he says they “make the city look like crap.” Meanwhile, the streets are filthy everywhere, but that doesn’t bother him. He’s one of these people who are more interested in trying to see how many likes and points he can get by boo-hooing about parking garages.

Tell you what Mr Cry baby, why don’t you move to someplace where you won’t see parking garages.. that should prevent you from getting aggravated when another developer decides to build a parking garage attached to a building so his future tenets will at least have that kind of convenience for shelling out, like some say, the obscene money they’re paying to live there.

Anonymous

Seems pretty obvious…but not to the trolls on here.