A developer just announced it has secured a $76.81 million loan for a sustainable, mixed-use development in Overtown and Wynwood.
JP Morgan Chase provided the loan.
More Development is the developer. The company has offices within the development site.
The development will be known as SoWy, and aims to stay faithful to the vibe of the neighborhood.
SoWy will span 26 parcels, or eight acres, along 2nd Avenue between NW 20th and 22nd Street to the east and southeast. Nearly 2.5 million base buildable square feet is allowed before Live Local Act considerations.
Residential is a part of the plan.
“With financing in place, we are ready to realize the initial phase of our plans to invigorate the neighborhood with a new vibrant environment where people can live, work, shop, dine and play in a pedestrian-friendly and art forward setting,” said More Development President Whitney Thier.
(photo: More Development)