Alta Developer obtained a $68 million construction loan to commence construction on a condo near the Miami River.
Boynton Beach-based Forman Capital provided the mortgage to the Miami-based developer, led by Principal Henry Pino. It covers the River District 14 project on the 1.26-acre site at 1451 N.W. 14th St. It is located within Allapattah, near the new River Landings retail, apartment and office center. Pino calls this section of the area the River District because the Miami River is a block away.
Site work on River District 14 will start in two weeks and it will go vertical in August. The general contractor is Doral-based Jaxi Builders. Pino said it will be completed in the first quarter of 2026. The 16-story project will have 283 units, all of them fully furnished. They will average 725 square feet with a starting price of $475,000. The developer will permit short-term rentals, like roughly half of the new condo developments in Miami.
Source: SFBJ