Walker & Dunlop Hosts $ 43 Million Funding for Mixed-Use Development in Miami’s Brickell Neighborhood
MIAMI – Walker & Dunlop has arranged $ 43 million in construction and acquisition financing for 1 Southside Park, a mixed-use development covering an entire city block in the Brickell neighborhood of Miami. The borrower is JDS Development Group, a New York-based development company. Aaron Appel, Keith Kurland, Jonathan Schwartz, Michael Diaz, Michael Ianno, Sean Bastian and Ian Hawk arranged the fixed rate and interest rate only loan through Atalaya Capital.
Designed by SHoP Architects, 1 Southside Park will feature a 64-story apartment tower comprising 1,175 units, as well as 190,000 square feet of office space, a 200-room hotel, 10,000 square feet of retail space and 1,400 parking spaces. The project will be located near the Miami-Dade Metrorail Brickell Station as well as The Underline, a newly delivered linear park that stretches from Brickell to Dadeland.
Landscape architect James Corner Field Operations is working with JDS to integrate 1 Southside Park with The Underline, which was previously a Metrorail line. The new development will include 90,000 square feet of wellness-centric amenities, such as a fitness center and spa to complement The Underline. JDS plans to break through in the near future, according to founder and CEO Michael Stern.