MEC Development Associates & B Developments Locks Down Construction Financing For Casa Grove, To Break Ground In January

MEC Development Associates and B Developments plan to break ground on Casa Grove in January. The developers who are developing the project as a joint venture recently locked down a $27 million construction loan for the approved luxury apartment tower from Israeli lender Bank Hapoalim (BHI). Casa Grove which will bring 130 rental apartment units to 2900 Southwest 28 Lane. B Developments purchased the 1-acre property in 2015 for $6.1 million. The project is being designed by Itec Design and will rise 12-stories, featuring 200,000 SF of total development including 12,000 SF of commercial space. Units will start at 635 SF and range up to 1,400 SF and amenities will include a 5th floor amenity deck and direct access to the Underline. The transit oriented project is located just a short distance from the Coconut Grove Metrorail Station, offering residents immediate access to the Metrorail. The project will help kick-off the Underline, the new landscaped recreational public space under the metro rail. Public space from Casa Grove will feed into the Underline, providing a seamless connection to the new initiative. Casa Grove is expected to be completed in 2019.

PROFILEmiami first broke then news covering the announcement of Casa Grove in October 2016.