Developers Wharton Equity Partners and Mack Real Estate Group have topped off their 19-story apartment building District 36 in Midtown Miami.
Construction of the mixed-use tower first began in mid-year 2015 after Wharton and Mack closed on $68 million in construction financing with JPMorgan Chase Bank.
The development partners are building 195 rental units and 63,000 square feet of retail space split between the first and second floors. Comras Company, headed by Michael Comras, is handling leasing for the building’s commercial spaces.
Located at 3635 Northeast 1st Avenue, District 36 is expected to open by the end of 2016.
The development partnership first paid $9 million for the acre-sized site in 2014, according to Miami-Dade County property records.
Stantec is designing the project. The architecture firm’s principal Jonathan Cardello told The Real Deal in May 2015 that the project’s purpose was to act as a bridge between Miami’s Midtown and Design District neighborhoods.
Sean Stewart-Muniz, The Real Deal
Read more here: therealdeal.com/miami/
