1250 West Avenue secures $507 million in construction financing
Terra and its partners plan 106 condominiums and ground-floor retail on Miami Beach's bayfront, with sales expected in 2027.
Terra, RG Development Group, GV Development and LORE Development have secured a $507 million construction loan from TYKO Capital for 1250 West Avenue. The Miami Beach proposal calls for a 28-story building with 106 residences, ground-floor retail and underground parking. The team also proposes Baywalk improvements along the waterfront. Sales are expected to start in 2027. The financing announcement does not provide a completion date or identify restaurant tenants.
Financing makes this a more concrete development to track, though future residents are still several operating decisions away. Nearby businesses should watch construction access and pedestrian changes as closely as the eventual customer base. Any restaurant proposal for the retail space needs confirmation of permitted uses and building services.
- Florida YIMBY · Oct 21, 2026