The transaction involves a development site located at Southwest 214th Street & Southwest 117th Court in the Goulds market. The total area of the site is 3.46 acres. A construction loan totaling $56,000,000 was secured for this asset to facilitate the development project.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $56,000,000
- Address: Southwest 214th Street & Southwest 117th Court
- Market: Goulds
- Landlord: W. Patrick McDowell - McDowell Housing Partners
- Loan Type: Construction
- Project: Phase II of Southpointe Vista
- Total Development Cost: $122,000,000
- Units: 208 affordable housing units
- Completion Date: Q3 2026
W. Patrick McDowell, representing McDowell Housing Partners, is leading the initiative for Phase II of Southpointe Vista. The first phase of the development is nearly fully leased, indicating a strong market response. This financing will support the continuation of the project in Miami-Dade’s Goulds neighborhood.
IMAGE: W. Patrick McDowell
DATE: 02/28/2025
ADDRESS: Southwest 214th Street & Southwest 117th Court
MARKET: Goulds
ASSET TYPE: Development Site ~ ACRES: 3.46
LANDLORD: W. Patrick McDowell - McDowell Housing Partners
LOAN AMOUNT: $56,000,000
LOAN TYPE: Construction
NOTE: McDowell Housing Partners secured $56M in financing to begin Phase II of Southpointe Vista, a 208-unit affordable housing project in Miami-Dade’s Goulds neighborhood. The $122M development, with Phase I nearly fully leased, is set for completion in Q3 2026.
Source: https://traded.co/deals/florida/development-site/loan/southwest-214th-street-goulds/
