Terra, together with partners RG Development Group, GV Development and LORE Development, has obtained a $507 million construction loan from TYKO Capital to advance a new luxury condominium project at 1250 West Avenue in Miami Beach. The financing will support development of a waterfront tower overlooking Biscayne Bay, adding another high-end residential option along the city’s western shoreline.
The project at 1250 West Avenue is planned as a 28-story condominium building with 106 residences. Positioned on Miami Beach’s bayfront, the development is designed to capitalize on direct waterfront exposure while offering buyers a modern, amenity-rich living environment in a high-demand coastal location.
Plans for the building call for an extensive private amenity package focused on wellness and recreation. The condominium will feature both ground-level and rooftop swimming pools, along with a spa designed to serve residents seeking resort-style services at home. A padel court is also planned, reflecting the growing popularity of the sport among luxury residential communities.
The tower’s design includes two penthouse residences crowning the upper levels of the building. Each penthouse is expected to have its own private rooftop pool and dedicated amenity space, offering fully separated outdoor areas and an elevated level of exclusivity within the overall condominium program.
Beyond residential amenities, the development will incorporate underground parking to serve residents and visitors, as well as ground-floor retail space that can activate the street frontage along West Avenue. Lush tropical landscaping is planned throughout the property, integrating outdoor green space into both public-facing and resident-only areas of the project.
The 1250 West Avenue condominium follows Terra’s delivery of Five Park, a 48-story luxury tower at the gateway to South Beach, which further established the firm’s presence in Miami Beach’s high-end residential market. Terra is also advancing the 800-room Grand Hyatt Miami Beach, currently under construction adjacent to the Miami Beach Convention Center, underscoring the developer’s active pipeline in both residential and hospitality sectors within the city.
