Construction funding of $145 million was provided for the $190-million development by the Atlanta office of Southern California-based Fremont Investment & Loan and Chicago-based Corus Bank who acted as co-lenders. According to Gerry Robbins, VP of Fremont's Atlanta office, his company has previously closed on $85.5 million in construction loans for Terra Group's Metropolis I and II condo towers in Miami's Dadeland area.

Coral Gables-based Nichols, Brosch, Sandoval and Associates is the architect of Quantum on the Bay. The 47-story and 40-story conjoined residential towers top a four-story, 978-space parking garage. The design provides for 25 different floor plans, including penthouses; one-, two-, and three-bedroom apartments; and studio lofts. Ganatra says the selling prices were between $300 per sf and $350 per sf, which puts units at between the low $200,000s and $1 million. "Tower one is 100% sold, and the second tower is 90% sold," she says.

The property includes two open-air swimming pools; a health club with an exercise area, spa and sauna. It will also include some ground-floor retail. Across from it is Margaret Place Park with tennis courts, a basketball court, children's playground, soccer/cricket field, barbecue facilities and a boardwalk.