A developer building a Miami residential development on Coral Way, within walking distance of downtown Coral Gables, expects to complete construction in about two years.
CADE Capital Partners last month began construction of MB Station, which will have 190 rental housing units and 4,805 square feet of commercial space. CADE also is building a Miami-Dade County fire station on the site.
Common-area amenities at MB Station will include a courtyard, swimming pool, club room, gym and yoga room.
Spain-based Abanca Corporacion Bancaria S.A. provided a $42 million construction loan for the project, and the general contractor is Deland Construction Co., according to the South Florida Business Journal.
Construction of MB Station is expected to conclude in the fourth quarter of 2019.
In 2014, CADE bought the 57,115-square-foot development site at 3170 Coral Way in the Shenandoah neighborhood of Miami. — Mike Seemuth