search

The Real Deal Logo

Trending

Billionaire hedge funder Larry Robbins makes South Florida moveBillionaire hedge funder Larry Robbins makes South Florida moveChavin surrenders Loop office-to-resi play with deed-in-lieu of foreclosureChavin surrenders Loop office-to-resi play with deed-in-lieu of foreclosure“I wouldn’t use it, I would just lock the door”: Landlords pan new rehab law“I wouldn’t use it, I would just lock the door”: Landlords pan new rehab lawHousing deal finally passes; here are the detailsHousing deal finally passes; here are the details
Commercial
South Florida

Public boarding school scores $9M loan to build new dorm

The SEED School of Miami’s new residential building will hold 400 students

City National Bank’s CEO Jorge Gonzalez and a rendering of the SEED School of Miami
City National Bank’s CEO Jorge Gonzalez and a rendering of the SEED School of Miami

A public boarding school in Opa-locka just secured a $9 million loan from City National Bank of Florida to build a new student dormitory complex.

The loan will fund a new two-story dorm for 400 students, as well as 16 faculty and staff members. The total cost of the project is $18.1 million, according to a release.

Sign Up for the undefined Newsletter

The SEED School of Miami is a college-preparatory school at 1901 Northwest 127th Street that serves 300 students in grades 6-12. The school was built on the site of the former Westview Middle School in Opa-locka.

By the 2020-2021 academic year, SEED School is projected to enroll 400 students in grades 6-12, with small class sizes of 15-18 students. Its first graduating class will be in 2021. Founded in 2014, it is the first public boarding school in Florida.

Miami-based City National Bank is South Florida’s second largest bank by assets. In October, City National took over the naming rights to one of downtown Miami’s most well known office buildings, the Miami Tower. The tower will serve as the bank’s headquarters.

Tags
BanksCommercial Real EstateOpa-lockaReal Estate And Finance