March 16th, 2007
Loan secured for Vitri condominiums
Bob de la Fuente, director of Florida development for Leviev Boymelgreen, announced that a $46 million construction loan has been secured for Vitri, a cutting-edge, mixed-use condominium being developed at 541 West Ave. in South Beach, Fla.
Mellon United National Bank of Miami approved the loan, which closed on December 28 2005. Groundbreaking is scheduled for later this year.
When completed, Vitri will be comprised of 66 double-height residences, ground-floor retail and restaurant space. The innovative, avant-garde design has won the project two American Institute of Architects awards, with the architectural firm of Touzet Studio at the helm. Features will include open-plan layouts with 19-foot ceilings, open-tread stairs and floor-to-ceiling windows; Italian kitchens and private balconies.