Miami-Dade’s largest-ever public-private transit-oriented development will soon break ground after the developer secured a construction loan.
Terra landed a $170M loan for the first phase of Upland Park. The loan was issued by SCALE lending, the debt financing arm of Slate Property Group.
Upland Park will eventually be a $1B development, with over 2,000 mid-rise and garden-style multifamily apartments, about 282,000 square feet of retail, and approximately 414,000 square feet of additional commercial space.
The West Miami-Dade County’s Dolphin Park-and-Ride/Transit Terminal Facility will be transformed into a 47-acre multimodal transit hub.
Miami-Dade’s East-West Corridor of the County’s SMART public transportation plan is planned to terminate at the hub.
The first phase of Upland Park will include 578 multifamily apartments.
PPK Architects is designing the development, in collaboration with master plan architect Arquitectonica and urban planner Plusurbia Design
Groundbreaking is planned in early 2025.
(images: Terra)