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.