The Standard Residences in Midtown Miami has been issued a $45,045,000 construction loan from Bank OZK.
JLL Capital Markets Debt Advisory team, led by Managing Director Brian Gaswirth and Associate Jimmy Calvo, represented the developer.
The developers also signed a water and sewer utilities agreement with the county, records show. A site work permit was issued on October 13.
Nearly 90% of units are now sold. A groundbreaking ceremony for the project was held earlier this year.
The Standard Residences in Midtown Miami is planned to include:
- 228 residential condo units
- 11,000 square feet of retail
- 34,000 square feet of amenity space, rooftop lounge
Buyers will be permitted to rent their units for a minimum of a month at a time.
Arquitectonica is the architect, with interiors by Urban Robot.
Standard International, Rosso Development and Midtown Development are the developers.
Civic Construction is the contractor.
Completion is scheduled for the end of 2024.
