LCOR has secured a $192.5 million construction loan to advance a new multifamily tower in the Edgewater area, allowing the developer to move from planning into active construction. The financing, provided by Natixis, covers a 1.08-acre site at 1775 Biscayne Blvd., where Coastal Construction has already started work on the ground. The project is designed by ODP Architecture, bringing a high-rise residential concept to the Edgewater neighborhood.
According to information cited from the South Florida Business Journal, LCOR acquired the Edgewater property in 2022 for $49 million before moving ahead with formal plans. In the following year, the developer filed plans for a 42-story tower featuring 544 apartments, 9,496 square feet of retail space and approximately 620 parking spaces. The mix of residential, street-level retail and structured parking positions the project as a large-scale, mixed-use multifamily development.
The design by ODP Architects calls for a full slate of resident amenities. Planned offerings include a rooftop pool, a fitness center, a coworking center and a gaming area, underscoring LCOR’s focus on lifestyle- and service-oriented multifamily product. These amenities are intended to support both live-work needs and leisure uses within the building, aligning with evolving expectations for modern apartment communities.
The construction loan from Natixis marks a key milestone in LCOR’s broader development pipeline. Beyond this Edgewater tower, the developer is currently delivering new residential projects with 1,000 units under construction and another 1,200 units in the pipeline. That activity level signals an ongoing commitment to ground-up multifamily development and a willingness to move forward with large projects when financing is available.
With Coastal Construction mobilized on site, LCOR’s Edgewater project transitions from planning and entitlement work into the physical build phase. The combination of a sizable construction loan, a commissioned general contractor and a defined unit and amenity program provides clarity around the scope and scale of the development. As work progresses, the project is expected to add a significant number of new apartments and new retail space to the Edgewater area once completed.
