Axiom Construction scores financing for downtown Homestead Station project

Development will include a ShowBiz Cinema and a new parking garage

Apr.April 11, 2018 02:35 PM

Renderings of Homestead Station and Cybrary and Axiom’s Richard A. Otwell (Credit: City of Homestead and Axiom Construction)

The city of Homestead is one step closer to completing its public/private transit-oriented project, which will include a ShowBiz Cinema, more than 30,000 square feet of retail and a new parking garage.

Property records show developer Axiom Construction scored a $13.7 million construction loan for Homestead Station, a 150,000-square-foot development planned by the city in an effort to revive its quiet downtown area.

Axiom president Richard A. Otwell signed a 20-year ground lease with Homestead to manage, operate and service the facility, with an additional five-year option. The developer won approval to build the project last year in conjunction with the engineering firm Foresite Group.

The project will rise on a little more than 5 acres of land at 4 and 100 South Krome Avenue. The planned ShowBiz Cinema will feature 10 theaters, 10 bowling lanes and a video arcade. The parking garage will have more than 1,000 parking spaces and will connect to Miami-Dade County transit and trolley services.

A separate 45,000-square-foot virtual reality library concept, called Cybrary, will also be part of the development. The city is currently in talks with Landmark Entertainment Group, the company behind Universal Orlando rides like The Amazing Adventures of Spider-Man and Jurassic Park and Las Vegas’ Caesars Palace, to build the library.

Records show National Bank of Florida is the lender. A spokesperson for the city said the developer is expecting to complete the project by winter 2019.

Related Articles

Matt Rieger and a rendering of Paradise Lake Apartments

Developer scores financing for West Kendall affordable housing project

Arnaud Karsenti, Michael Adler and the Link at Douglas

Douglas Station project scores $99M loan for second tower

Homestead school and Achikam Yogev

Aspira sells third South Florida charter school

Brickell Flatiron and Ugo Colombo

Ugo Colombo pays off $236M construction loan for Brickell Flatiron

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

The Eureka Drive site, Deme Mekras, Elliot Shainberg

Garco buys Miami-Dade land for multifamily project

Rendering of Sailboat Bend II

Affordable housing project in downtown Fort Lauderdale lands $27M loan

Rendering of the Edgewater Holiday Inn pool

Bank OZK lends $28M for Holiday Inn project in Edgewater