The money from Coral Gables-based Banesco USA Bank should cover 60 percent of total project costs on The Crimson, an 18-story waterfront tower being built at 601 NE 27th St.
January 03, 2014 at 06:00 PM
1 minute read
The developer of a residential condo tower in Edgewater has received the construction financing necessary to break ground on a planned 90-unit development, the developer announced Thursday.
The $16 million loan, from Coral Gables-based Banesco USA Bank, comes amidst an environment in which local banks have decided to slowly open the spigot on construction loans, which had been scarce since late 2008.
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