330-unit apartment building near Miami airport secures $52M in construction financing

Expecting to begin vertical construction in the first quarter of next year is a 330-unit apartment development just south of Miami International Airport.

Estate Investment Group has closed on $52 million in construction financing from Florida Community Bank for Soleste Blue Lagoon, which will rise eight stories at 5375 Northwest 7th Street. Preliminary site work began in September.

The project includes studios, and units ranging from one to three bedrooms, and from 400 to 1,100 square feet. Prices are expected to start in the low $1,300s.

Amenities include a lakefront pool; a sun deck; cabanas; a private beach with volleyball; a lounge; a fitness center; and a “rooftop serenity garden.” Residences will be outfitted with modern kitchens featuring custom cabinetry and quartz countertops.

EIG has five other Soleste-branded developments, including Soleste Park View, Soleste Twenty2, Soleste Alameda, Soleste Bay Village, and Soleste Grand Central.

The architect is Caymart Design and the project is expected to be completed in 2019.