Neology Life, led by developer Lissette Calderon, broke ground on an apartment complex in the Allapattah neighborhood of Miami after obtaining a $78.2 million construction loan.
The Julia Apartments, named for Miami founder Julia Tuttle, will have 323 units. Construction on the 12-story building at 1625 N.W. 20th St. is expected to be completed by mid-2023.
Units in the Julia will range from 586 to 892 square feet. Amenities will include a pool with cabanas, a rooftop garden, a fitness center, a coffee bar, and a dog park.
Trez Capital provided the mortgage to TCG Allapattah, an affiliate of Neology Life, for the 1.7-acre lot.
“When we evaluate lending opportunities, we focus on the needs of a community and the track record of the developer,” said Ben Jacobson, a managing director at Trez Capital. “Partnering with Lissette and understanding her vision, we think Allapattah is perfectly positioned to attract nearby working professionals and families who desire a certain level of luxury living but are priced out of places like Brickell, downtown and Wynwood.”
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