Missoni Baia Gets $243M Construction Financing As Developers Prepare For Foundation Pour

Missoni Baia has obtained a construction loan.

The tower is set to become the tallest in Edgewater at 649 feet above sea level – matching the height of the under-construction Elysee tower, and surpassing the Paraiso towers.

The developer previously told The Next Miami that a foundation pour was scheduled for November, following installation of a tower crane in September.

A total of $243 million in financing was granted by Security Benefit Life Insurance Corporation, according to multiple reports.

The project will include 249 condos. Prices start in the $500,000 range.

OKO Group, led by Vladislav Doronin, is the developer along with OB Group and Cain International.

Asymptote Architecture is designing the 57-story tower.

 

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Anonymous
1 year ago

My favorite building in Edgewater.

Anonymous
1 year ago

I like the Periscope

marc
1 year ago

This has taken forever.

Anonymous
1 year ago

Yeah.. but it started faster than the Aston Martin development.

Anonymous
1 year ago

Is anyone ever going to develop more retail for all the people in these Edgewater towers to walk to? Or are they all just empty investment vehicles anyway?

Brickellite
1 year ago

I spoke to someone who absolutely loves downtown, I gotta step out of Brickell and look a little closer…

Anonymous
1 year ago

Vote Russell out in Miami district 2. Hypocritical crook.

Anonymous
1 year ago

You only have a few hours left to do it.

Anonymous
1 year ago

just voted!!! Bye bye Russell

Anonymous
1 year ago

He’s a total waste of air, does zero for downtown only cares about getting votes in the grove , district 2 should be split into two districts as the grove and downtown have zero connection to each other

Azarius
1 year ago

he won

Longfellow Deeds
1 year ago

Why? JW

More YOYO
1 year ago
Magazine
1 year ago

57 stories yet only 250 units? Just financing was $250mm, indicating a minimum break even of $1mm per unit (and that’s just on financing).

Weird given the statement that units start at $500k. So they will have 800sq ft 1br starting at $500k, and then oversized units for $2mm? That’s a big price discrepancy.

Happy
1 year ago

Average unit price will be much higher than $1MM I imagine.

Anonymous
1 year ago

who do you think u r

Anonymous
1 year ago

A great addition to the neighborhood, but I wish the land was used more densely, those large podiums sticking out from behind each waterfront tower are so counter-productive to the neighborhood.

Anonymous
1 year ago

Totally agree. Problem is there’s no cohesive master plan in place with logic and practicality. They want to pedestrianize downtown but they keep enforcing parking minimums. They want more ridership of public and mass transit but again parking minimums are enforced. So the end result is more traffic, a continuation of suburban sprawl, decreased ridership of mass transit and ghostly sidewalks

Anonymous
1 year ago

STOP COMPLAINING AND VOTE VOTE VOTE

Anonymous
1 year ago

What they haven’t already? I suppose it feels like yesterday when the bikini saxophone circus came to town.

Anonymous
1 year ago

Extend Metromover to Edgewater

Anonymous
1 year ago

Missoni ‘Box’ Baia. It’s a box. That it – a box.

Anonymous
1 year ago

You mean, the Security Benefit Life Insurance Corporation is lending the OKO Group $243 million to build an empty box?

Gee.. and some people can’t even get financing for a used car.