$507 million construction loan secured for 1250 West Avenue
· Planned development
28 stories, 106 bayfront residences and rooftop pools in Miami Beach: a Terra-led partnership now has the financing to build, with sales expected in 2027.
The project
A planned bayfront condominium in Miami Beach
A Terra-led partnership has secured a $507 million construction loan from TYKO Capital for 1250 West Avenue, a planned waterfront condominium on the bay in Miami Beach. The development team includes Terra, RG Development Group, GV Development and LORE Development. The loan amount is not a verified total project cost.
The proposal calls for 106 residences across 28 stories, including two penthouses. ODP Architecture and Design is identified as architect of record.
- Address
- 1250 West Avenue, Miami Beach
- Financing
- $507 million construction loan from TYKO Capital
- Developers
- Terra, RG Development Group, GV Development, LORE Development
- Architect of record
- ODP Architecture and Design
- Scale
- 28 stories, 106 residences, including two penthouses
- Design review
- Design Review Board approval reported in May 2026; not evidence of all permits
- Status
- Planned; financing secured
- Sales
- Expected to begin in 2027
Planned amenities
Pools, a spa and a padel court
Published plans include ground-level and rooftop swimming pools, a spa and a padel court, together with underground parking and ground-floor retail. These are planned features, not completed facilities.
Still to be confirmed
Construction start, completion year, bedroom configurations, starting prices and final floor plans are “to be confirmed.” The expected 2027 sales launch is not a construction or completion date.
Why it matters · Our view
The financing is a significant step toward new bayfront residences. Buyers should distinguish a financing milestone from a construction start, and an expected sales launch from a completion date, and track permits, construction progress and the eventual sales offering separately.
Sources
- Terra — developer’s official website (opens in a new tab) (the developer has not yet published a project page for 1250 West Avenue)
- Multi-Housing News — October 9, 2026 (opens in a new tab) (financing, team, architect)
- REBusinessOnline — October 12, 2026 (opens in a new tab) (residences, penthouses, amenities)
- PROFILEmiami — October 13, 2026 (opens in a new tab) (status, expected sales timing)
- Florida YIMBY — May 17, 2026 (opens in a new tab) (Design Review Board approval)
The financing details come from trade reporting dated October 9–13, 2026; the developer has not published its own announcement or project website yet. Not based on the loan documents or City of Miami Beach permit records.