Construction starts on 187 apartments near Florida International University

Chicago-based CA Ventures got a $55.04M loan from TD Bank to finance construction of The Residence at University City

TRD MIAMI /
May.May 19, 2018 02:30 PM

Tom Scott, CEO of CA Ventures

A 187-unit apartment building that will cater to college students is under construction near Florida International University.

TD Bank made a $55.04 million loan to finance construction of the rental property at 400 Southwest 107 Avenue in Sweetwater.

The borrower is an affiliate of CA Ventures of Chicago, led by CEO Tom Scott, and the development is called The Residence at University City.

CA Ventures bought the development site in December 2017 for $4 million.

General contractor G.T. Construction and Development notified Miami-Dade County that construction of the 187-unit apartment property has started.

Continental National Bank, which had owned an office building on the development site, will occupy ground-floor retail space at The Residence at University City.

Another student housing development near Florida International University is under way at 740 Southwest 109 Avenue. The developer of the 20-story, 492-unit University Bridge Residences has converted the project from a condominium to a rental apartment building. [South Florida Business Journal] – Mike Seemuth


Related Articles

arrow_forward_ios
University Park and Square Mile Capital CEO Craig Solomon (Credit: Zillow)

Boca Raton student housing scores $71M refi

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Daily Digest Miami

Rise in climate-related home buyouts could worsen housing inequality, Eurostars parent buys historic downtown Miami property: Daily digest

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein (Credit: Daily Beast | Getty)

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

South Florida firm buys Sunrise apartment complex for $20.2M

South Florida firm buys Sunrise apartment complex for $20.2M

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

arrow_forward_ios
Loading...