The Standard Residences in Midtown Miami, a highly anticipated development, has recently achieved significant milestones in its progress. The project, led by developers Standard International, Rosso Development, and Midtown Development, has secured a construction loan of $45,045,000 from Bank OZK. The loan will provide the necessary funding for the construction of this remarkable residential complex.

The JLL Capital Markets Debt Advisory team, headed by Managing Director Brian Gaswirth and Associate Jimmy Calvo, played a pivotal role in representing the developer throughout the loan acquisition process. Their expertise and dedication ensured the successful outcome of securing the construction loan.

In addition to the construction loan, the developers have also finalized a water and sewer utilities agreement with the county, as indicated by official records. This agreement is a crucial step in ensuring the necessary infrastructure is in place to support the project.

A significant achievement for The Standard Residences is the high demand it has garnered, with nearly 90% of units already sold. This enthusiastic response from buyers is a testament to the appeal and desirability of this exceptional development.

To commemorate the commencement of construction, a groundbreaking ceremony was held earlier this year, signifying the project's official start. This event marked an exciting milestone for the development team and the community.

The Standard Residences in Midtown Miami is set to be an impressive residential complex, boasting a range of features and amenities. The plans include 228 residential condo units, catering to diverse living preferences. Additionally, there will be 11,000 square feet of retail space, providing convenient options for residents and visitors alike.

One of the standout features of The Standard Residences is the extensive amenity space, totaling 34,000 square feet. This includes a rooftop lounge, offering breathtaking views and a serene atmosphere for relaxation and socializing.

Buyers of the residential units will also have the flexibility to rent their properties for a minimum duration of one month at a time, providing an opportunity for investment and rental income.

The architectural design of The Standard Residences is entrusted to the renowned firm Arquitectonica, known for their innovative and contemporary designs. The interiors of the residential units will be skillfully crafted by Urban Robot, ensuring a stylish and inviting living environment.

Civic Construction has been appointed as the contractor for this ambitious project, bringing their expertise and commitment to deliver a high-quality development.

The completion date for The Standard Residences in Midtown Miami is scheduled for the end of 2024. This timeline sets the stage for residents to enjoy the luxurious and modern living experience envisioned by the developers.

Overall, The Standard Residences in Midtown Miami is an exciting and highly anticipated project that combines exceptional design, desirable amenities, and a prime location. It is poised to become a landmark in the vibrant Midtown Miami area, offering a new standard of living for its fortunate residents.