Alta Development got a big $68 million loan for a new condo project called River District 14 in Miami. They’re making condos instead of apartments because the market is changing. More people want to own condos now, especially in the city.
River District 14 is almost sold out, with over 70% of the condos already sold or reserved. The prices range from $490,000 to $780,000. The condos are designed with things like indoor pickleball courts, which are popular with buyers.
Miami’s real estate scene is changing too. More condos are being built, especially ones that can be rented out for short periods. Downtown Miami is seeing a lot of these projects, like The Crosby and 600 Miami World Center.
River District 14 is adding to this trend, making the area more lively with new condos and apartments.
This shift to condos instead of apartments in Miami’s city center means more people want to own their homes or have the option to rent them out for short stays. It’s changing how developers build and how people live in Miami. This trend is likely to keep going, affecting how Miami looks and how people live there.
