MIAMI—The first luxury residential marina in 20 years, Marina Palms Yacht Club & Residences is making progress. The foundation piles and seawall are complete and the overwater dock system is now under construction. The Plaza Group closed a $98 million construction loan in Nov. 2013.
“It's a momentous time in the construction of Marina Palms, as our dream is quickly becoming a reality,” says Neil Fairman, president of Plaza Group, developer of the project. “To see the marina taking shape at this historic site is truly remarkable.”
Kearns Construction Company began clearing the yacht basin in late 2014. The company pulled from the water sunken boat hulls, a 50-ton, submerged boat lift and over 100 pilings dating back to the former marina's heyday in the 1970s and '80s.
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