Developers Urban Network Capital Group (UNCG) and Vertical Developments have secured a $24.5 million construction loan from Rok Lending for a boutique condo-hotel development in Miami, Florida’s Brickell district. Named the Visions at Brickell Station, the eight-story project will include 111 units at 1136 SW 3rd Avenue, two blocks west of the Brickell Metromover station. Amenities will include a spa, gym, event space, and a rooftop pool. The development, which is estimated to cost $45 million in total, is geared towards investors. Under the condo-hotel ownership model, owners will be able to stay at their unit for up to 30 days. The rest of the time, a hotel management company will rent out the residences. Construction is scheduled to be completed in 2025.
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