Final work is set to begin on the mixed-use multifamily community in Miami, Link at Douglas, as developers Barings and 13th Floor Investments have secured a $134 million construction loan. The financing was led by Santander Bank, which teamed up with First Horizon Bank and TD Bank on the deal.
The last phase, known as Crescendo, will deliver 392 multifamily units. Altogether, that will give Link at Douglas more than 1,500 residential units spread across four towers.
The final 37-story building is scheduled to deliver to the property that sits near the Douglas Road Metrorail Station in 2029.
"Crescendo is far more than the final tower at Link at Douglas," said Daryl Shevin, chief financial officer of 13th Floor Investments, in a statement.
"It represents the culmination of years of planning, investment, and partnership with Miami-Dade County to create a community that brings housing, retail, and transit together in one of Miami's most connected locations."
The first residential tower for Link At Douglas began construction in 2019. Along with Barings and 13th Floor, The Adler Group is also listed as a partner on the transit-oriented development.
So far, two residential towers combining for 733 units have fully delivered and are 100 percent leased — the Core and Cascade buildings. Additionally, more than 30,000 square feet of retail space has been completed, which is anchored by a Milam's Market. The third tower, Cadence, is set to deliver 421 units.
In total, the project takes up seven acres of land.
This marks just one mixed-use project that's in the works for 13th Floor in South Florida. Another underway is Link at Boca in Boca Raton, which calls for 24,000 square feet of retail space and 340 residential units. Another is Link at SoMi, which is a planned development for 670 multifamily units near the South Miami Metrorail Station.
Through South Florida, 13th Floor has completed over 4,700 residential units.
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