Construction of The Crimson, the high-ish-end condo tower homage planned by Harvard Business School classmates brimming with school spirit (thus the name), is underway after developers the mcakfa group announced they'd snagged a $16 million construction loan from the U.S. subsidiary of Venezuelan bank Banesco. The Austrian and Argentine developers are targeting foreign investors for the LEED silver tower in Edgewater. One- to three-bedroom units will range in size from 780 to 1,600 square feet. The "C-Club" amenities deck will boast a pool, a landscaped promenade, hot tub, mini-theater, cyber café and zen room, whatever that is.
· Crimson Developers Get $16 Million Loan [Real Deal Miami]
· Previous coverage of The Crimson [Curbed Miami]