US$57.5 million secured for Fourteen Residences Allapattah, Miami

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Fourteen Residences Allapattah, a two-tower, 237-unit apartment complex in Miami, Florida, has secured $57.5 million in development funding. Lissette Calderon’s Neology Life Development Group provided the construction loan.

Neology Life Development Group, a lifestyle-focused residential and commercial real estate company run by Lissette Calderon, received the funding. This is thanks to the efforts of Senior Managing Director Charles Foschini, Managing Director Chris Apone, and Senior Analyst Shannon Wilson of Berkadia Miami.

Also Read: Construction financing secured for Biscayne Shores in Miami

Features and amenities of the Fourteen Residences Allapattah

The Fourteen Allapattah Residences, which are situated at 1470 NW 36th Street, will have a five-story structure with 57 apartments. This is an addition to ground-floor walk-ups and a 14-story building with 180 apartment units connected by a pool deck.

The apartments will come in studio, one-, and two-bedroom units that are between 450 and 900 square feet in size. The units will have quartz worktops, energy-efficient kitchen equipment, washers, and dryers inside the units. Additionally, there will be a multipurpose lobby, media lounges, and living rooms, a rooftop pool and clubhouse, and poolside cabanas.

Fourteen Allapattah Residences will also feature coworking spaces, conference rooms, an outdoor movie screen, and an indoor and outdoor fitness and wellness center with a cardio studio. A dog park with a dog wash area, bike storage, a virtual concierge, and smart package lockers.

Furthermore, a parking garage with electric car charging stations will also be available and a ride-sharing station, are just a few of the lifestyle amenities that will be available.

More on Miami Fourteen Residences Allapattah

The building, which is scheduled to open in early 2024, will be in a highly visible location on NW 36th Street. It is close to the health district, which is home to the nation’s second-largest concentration of medical facilities after Houston. Moreover, it is just 5 minutes west of Wynwood and 10 minutes east of the Miami International Airport. The Rubell Museum, SuperBlue, and the Allapattah Miami Metrorail Station are all close by.

“With a creative team and projects whose “attainable luxury” idea satisfies the requirements of the neighborhood and harmoniously blends into it, our client Neology continues to dominate the Allapattah skyline,” said Foschini.

The lender acknowledged the strength of the sponsor, Neology’s track record in Allapattah, where this is its third project, and Lissette Calderon’s personal vision for the development of the neighborhood, despite the market still being highly unpredictable.