Big project on Miami River gets $38M construction loan

Big project on Miami River gets $38M construction loan

The River Landing mixed-use project along the Miami River received a $38.19 million construction loan shortly after the developer acquired the property.

Coral Gables-based River Landing Development received the mortgage from New York-based Eastwatch Holdings-T, an affiliate of NorthStar Realty Finance. The borrower is managed by Andrew B. Hellinger.

River Landing Development recently bought the property at 1400, 1420 and 1500 Northwest North River Drive for $26 million from the Mahi Shrine.

The $150 million project on about nine acres would include 440 residential units, 537 square feet of retail and a public park alone the river. The Miami City Commission already approved it.

It’s near the Health District around Jackson Memorial Hospital and the University of Miami medical campus.

Comments are closed.