Craig Robins’ Miami Design District Associates and Raycliff Capital secured a $125 million construction loan to build an office and retail project in the Miami Design District.
Records show the nine-figure financing was provided by Credit Agricole Corporate and Investment Bank for the Sweetbird North development at 95 Northeast 40th Street. The project will rise eight stories and comprise more than 92,000 square feet of office space and 22,500 square feet of retail.
Robins’ MDDA announced the project in June, with construction planned to kick off this month and wrap up in early 2028. The project recently secured a construction permit valued at $31.1 million.Â
Raycliff and MDDA, a joint venture between Craig Robins’ Dacra, L Catterton Real Estate and Brookfield Properties, tapped global architecture firm Snøhetta to design the development on the 17,000-square-foot site
Snøhetta, which has offices in Oslo and New York, is internationally recognized for designing the Bibliotheca Alexandrina in Egypt, the Norwegian National Opera and Ballet, the National September 11 Memorial Museum Pavilion in New York and the redesign of Times Square.
Retail space for Sweetbird North will occupy the first and second floors, while offices targeting creative industries will span floors three through eight. The building’s design will feature a layered facade of mesh screens and planted terraces.
MDDA and Raycliff are also developing the Miami Design Residences by Fouquet’s, a luxury condo project at 39 Northeast 39th Street designed by Pritzker Prize-winning architect David Chipperfield. Nadim Ashi’s Fort Partners and Qatari firm Constellation Hotels Holding are part of the development team.
Developers in the Design District are bullish on Miami’s influx of companies and executives to drive demand for office space, offering an alternative to business hubs like downtown, Brickell, Coral Gables and Wynwood.Â
This year, Lionheart Capital, Leviathan Development, Well Duo and The Lane Organization secured an $85 million construction loan from Monroe Capital for the Mirai Design District, an office-and-retail project at 4218 Northeast Second Avenue designed by Japanese architect Kengo Kuma. The ground-floor retail will be anchored by Italian restaurant Sant Ambroeus, and the office portion will target financial firms and creative-industry tenants.
Nearby, Helm Equities, an affiliate of JEMB Realty led by Ayal Horovits and David Escava, is planning a 36-story mixed-use project under the Live Local Act at 4201 Northeast Second Avenue. In addition to residences, the development would include over 80,000 square feet of office space and more than 45,000 square feet of retail space in a separate six-story building.
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