Terra, one of South Florida’s most active residential and commercial real estate development firms, in partnership with RG Development Group, GV Development and LORE Development, has secured a $507 million construction loan from TYKO Capital for the development of 1250 West Avenue, a new luxury waterfront condominium planned along Biscayne Bay in Miami Beach. The financing is a significant milestone for the project as it prepares to move forward with construction. Sales are expected to begin in 2027.
Located at 1250 West Avenue, the 28-story development along Miami Beach’s western waterfront will feature 106 residences. The project will introduce a low-density residential experience centered on expansive residences, indoor-outdoor living and sweeping views across Biscayne Bay and the Miami skyline.
“Securing this financing from TYKO is an important milestone for 1250 West Avenue and reflects the strength of the project and our long-term conviction in Miami Beach,” said David Martin, CEO of Terra. “This is a rare opportunity to create an exceptional waterfront residential experience while making meaningful investments in the surrounding neighborhood and public realm. We look forward to advancing our plans with our partners and bringing this vision to life.”
Plans for 1250 West Avenue include an extensive collection of private wellness and recreational amenities including ground-level and rooftop swimming pools, spa and a padel court. Two penthouse residences will crown the building, each featuring a private rooftop pool and dedicated amenity space. The development will also include underground parking, ground-floor retail space and lush tropical landscaping integrated throughout the property.
“Miami Beach continues to be one of the most supply-constrained luxury markets in the country, and opportunities to build on the bay at this scale are rare,” said Adi Chugh, Founder and CEO of TYKO Capital. “Terra has proven itself on prior transactions with TYKO, and the team assembled for 1250 West Avenue has the experience and local market knowledge to deliver. This is the type of project and sponsorship we look to back as we deepen our presence in South Florida.”
Beyond the residential tower, the development team has proposed a series of public improvements designed to strengthen connections between the neighborhood and Biscayne Bay, including enhancements to the Baywalk that would expand public access and connectivity along Miami Beach’s western waterfront.
Terra has an extensive track record of development across South Florida, including several major projects in Miami Beach. The firm recently completed Five Park, a 48-story luxury condominium tower at the gateway to South Beach and is currently developing the 800-room Grand Hyatt Miami Beach, now under construction adjacent to the Miami Beach Convention Center. Terra’s broader active luxury residential portfolio includes Villa Miami in Edgewater, Jean-Georges Miami Tropic Residences near the Miami Design District, THE WELL Coconut Grove, and Mr. C Hotel & Residences West Palm Beach, reflecting the firm’s growing presence across South Florida’s most sought-after residential markets.
Images via Terra
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Terra, one of South Florida’s most active residential and commercial real estate development firms, in partnership with RG Development Group, GV Development and LORE Development, has secured a $507 million construction loan from TYKO Capital for the development of 1250 West Avenue, a new luxury waterfront condominium planned along Biscayne Bay in Miami Beach.