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$4M Loan Spurs 20-Story Condo Project

NORTH BAY VILLAGE, FL-The company has obtained a $4.3-million land loan through Builders Bank for the 1.8-acre project site. Ground-breaking is planned for the middle of this year.

By Melissa Bogdany | Updated on January 27, 2004

NORTH BAY VILLAGE, FL-Miami-based DDB Investments LLC has obtained a $4.3-million land loan and plans to develop a condominium project on here. Chicago-based Builders Bank provided the loan, which DDB Investments will use to refinance the site and to pay pre-development costs related to the planned condo development.

The 1.8-acre project site is located between 1881 and 1901 79th Street Causeway, about eight miles north of Downtown Miami. DDB Investments is planning to develop a 20-story, 118-unit luxury condominium tower to be called the Bridgewater. The project will have 67 one-bedroom units and 51 two-bedroom units, as well as a three-level, 244-space parking garage. Construction of the Bridgewater is slated to start in mid-2004 and Fortune International Realty will market the units.

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