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Metropolis Breaks Ground, Obtains Financing

MIAMI-The high-rise condominium development, which is planned for two towers, 25 stories each, is expected to be completed in December 2004. This follows a recently completed transaction for a $41 million construction loan with Fremont Investment & Loan.

By Melissa Bogdany | Updated on June 05, 2003

MIAMI-Metropolis at Dadeland, a condominium development consisting of two 25-story towers planned for east Kendall, FL, has broken ground. And developers, Terra ADI, recently closed on a $41 million construction loan with Fremont Investment & Loan for the first tower of Metropolis.

The residential urban development will feature 400 units and a variety of residences that will include lofts, one-and two-bedroom-plus-den units and penthouse units. Metropolis units will range in size from 657 sf to 1,467 sf. Pre-construction prices start in the $180,000s.

Construction has begun on the first tower. Once the first tower is completed, work will start on the second tower, according to a spokeswoman for the project. The entire project is scheduled to be completed in December 2004.

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