The 54-unit project is being developed at 7934 West Dr. on Harbor Island, about 10 miles north of Downtown Miami. Madison Capital Group LLC, financial adviser to the project's developer, Cambridge Development Group, arranged the financing, of which details were unavailable. Madison Capital provided the mezzanine and construction financing in a single non-recourse facility.
The project, on about three-quarters of an acre, is expected to be completed in the second quarter of 2006. Chad Oppenheim designed the tower, with every unit featuring views of Biscayne Bay. Units are priced from the low $500,000s and will range from 1,808 sf to 1,906 sf. Amenities include a rooftop pool and Jacuzzi, a fitness center and spa, and a boardwalk.
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