Zom nabs land, $52M construction loan for Maizon rental tower in Brickell

262-unit apartment building will have 15,300 sf of retail space

May.May 31, 2017 12:00 PM

Renderings of Maizon by Zom

Orlando-based developer Zom just closed on the land and construction financing for a 24-story, mixed-use apartment building in the west Brickell neighborhood, property records show.

Maizon Apartments LP, an affiliate of Zom, paid more than $6.7 million for the development site at 1100-1142 Southwest Second Avenue and 221-237 Southwest 12th Street. It also secured a $51.8 million construction loan from Santander Bank and broke ground on Maizon, according to a notice of commencement filed on Tuesday.

LLCs controlled by Alberto J. Cabrera and Maria Ramon sold the assemblage. The pair sold a property nearby for $6 million in September, also slated to become a mixed-use project.

Zom secured approvals from Miami’s Urban Development Review Board in October for the project, which will have 262 apartments and nearly 15,300 square feet of retail space on the ground floor. In all, Maizon will span 424,258 square feet and include 366 parking spaces and 24 bicycle spaces, open courtyards, and an amenity deck and pool on the ninth floor, according to documents filed with the city.

Zom is active in Greater Downtown Miami. The developer is building Solitair Brickell, a 50-story, 438-unit building near Brickell City Centre, as well as Met Square and adjacent MDM towers.

In the Brickell neighborhood, other new apartment buildings in the pipeline include Panorama Tower, a mixed-use luxury rental building under construction in the financial district, and Broadstone Brickell, which is closer to Maizon. Alliance Residential Company recently completed the latter, a 24-story apartment building at 255 Southwest 11th Street.

Zom could not immediately be reached for comment.

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