JDS Development Group has secured $86m in acquisition and construction financing from Maxim Capital Group for 1 Southside Park, a mixed-use project in Brickell, Miami, Florida.
This 64-story project will feature 1,175 residential rental units, 190,000ft2 of office space, a 200-key Treehouse Hotel, 10,000ft2 of retail space, and 1,400 parking spaces.
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The project has been designed by SHoP Architects, hotel interior design by Rockwell Group, landscaping by James Corner Field Operations, and residential interiors by Krista Ninivaggi of Woods Baggot.
The financing was arranged by Walker & Dunlop‘s team including Aaron Appel.
The existing land acquisition loan was replaced with a bridge construction loan at a lower rate and higher proceeds.
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This project is finishing its foundation work with deep soil mixing operations. Furthermore, the two-level basement is complete.
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By GlobalDataJDS Development Group founder and CEO Michael Stern said: “1 Southside Park’s thoughtful, dynamic design serves as an exemplar for how we can design and develop in dense urban centers.”
“We look forward to going vertical in the near future for this multifaceted project.”
Maxim Capital Group founder and managing director Adam Glick said: “We are excited to help Michael Stern and the JDS team continue the development of 1 South Side Park. It is an exciting project and one that will be transformational to the area.”
In pursuit of the Florida Green Building Coalition’s high-rise certification, the project will see use of efficient fixtures, smart technology, local materials, water re-use, and extensive landscaping.
1 Southside Park marks the fourth project between JDS and SHoP Architects. Among their other projects include the recently completed supertall 111 West 57th Street in Manhattan; The Brooklyn Tower, a mixed-use project of condominiums and rental apartments; and The American Copper Buildings on Manhattan’s East River.
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Image: This 64-story project will feature residential rental units, office and retail space, hotel and parking spaces. Credit: JDS Development/PRNewswire.
