March 23, 2020 Comments (0) Views: 694 Florida News, South Florida, Top Florida

Treo Group Lands Financing for $125M Transit-Oriented Development in S. Miami

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Miami-based Treo Group secured a senior construction loan for $33.25 million to commence development of VOX Miami, a two-phased, $125-million transportation-oriented project in South Miami. Located at 5949 S. Dixie Hwy., the project will be adjacent to the South Miami Metrorail Station.

Centennial Bank’s J.C. de Ona, and Jay Brito issued the financing, which will be used to finance Phase 1 of the development, which will include a student housing component. The three-story, 99-unit, 326-bed facility will be constructed above an existing five-story parking garage. An additional 5,600 square feet of ground-floor retail space is planned.

The project is set to deliver August 2021, in time for the 2021-2022 academic year, serving Univ. of Miami graduate and undergraduate students. This project is in response to the strong demand for off-campus student housing in the past year, especially reconstruction and ground-up development projects. Phase II will include 195,000 square feet of Class A office space.

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