Uniting Modern Living and Miami's Artistic Culture
Loan Details and Players
Centennial Bank has played a crucial role by providing a substantial $68.5 million senior construction loan. Jay Brito's expertise was instrumental in orchestrating this significant transaction. Simultaneously, Southern Realty Trust Inc. announced the origination of a $26 million subordinate loan, further fueling the development.
The developer, Clearline Real Estate, led by Jenny Bernell, is headquartered in both New York and Miami. With a focus on multifamily real estate investments across growing U.S. regions, Clearline is committed to creating exceptional living spaces.
Architectural Design and Amenities
Designed by Arquitectonica, Excel Miami Apartments seamlessly blends modern living with the artistic spirit of Downtown Miami. The sleek, contemporary aesthetic elevates the standard of multifamily architecture in the area. The 214,183 rentable square feet building will house 427 apartments, including studio, one-bedroom, two-bedroom, and 13 townhouse loft units. The amenity floor, with its 18-foot ceilings, offers a plethora of facilities such as a pool, yoga deck, fitness room, co-working space, screening room, and podcast suites. This provides residents with a luxurious and convenient lifestyle right in the heart of Miami.
Located near the Metromover's School Board Station, Excel Miami offers a transit-friendly environment, making it an ideal choice for professionals seeking convenience and connectivity.
Miami Community Newspapers: The Source of Local News
Miami Community Newspapers is the go-to source for Miami community news. With a wide range of topics covering the local community and beyond, it offers daily news, online resources, podcasts, and other multimedia content. This family-owned media company publishes more than a dozen neighborhood publications, magazines, and special sections on their websites, as well as distributing them in print throughout Miami Dade County.
Each online publication and print edition provides comprehensive coverage of local news, events, business updates, lifestyle features, and local initiatives. Additionally, the newspaper has exclusive Miami community podcasts that offer an in-depth look into Miami's culture.
Whether it's local Miami news or podcasts, Miami Community Newspapers has you covered. For more information, visit https://communitynewspapers.com. If you have any questions, feel free to email Michael@communitynewspapers.com or Grant@communitynewspapers.com.
Design and Features
The complex's website describes the apartments as "townhome" in design. Most floorplans offer an open layout, featuring granite countertops, hardwood floors, and small private balconies for some plans. Walk-in closets and in-house washers and dryers are also included. Additionally, residents have access to a swimming pool, an on-site car care center, a 24-hour fitness center, and an outdoor area for pets. While pets are generally allowed, certain dog breeds such as bull terriers, pit bulls, Rottweilers, and Dobermans are prohibited.Varied Floor Plans and Pricing
There will be 38 different floor plans to choose from, ranging in size from 560 square feet to 1,384 square feet. The pricing starts at $1,405 for the smallest studio apartments and can go up to $2,775 for the three-bedroom units. The median price for these 38 plans is $1,990.Part of a Larger Development
Springs at Colonial is a part of the larger $400 million mixed-use development, Legacy at Colonial, which broke ground in December 2022. This 170-acre project will ultimately include 305 senior living residences, 541 single-family homes, 301 multifamily units, a 130-room hotel, and 40,000 square feet of retail space, along with 37 acres of greenspace.In northern Cordova, most apartment complexes are quite old. The most recent complex built before Springs at Colonial was The Charleston Apartments at Houston Levee and U.S. 64, which was constructed in 2016. Jacob Wilt is a reporter for The Commercial Appeal and can be reached at jacob.wilt@commercialappeal.com.