Smart Brickell rendering
MIAMI—South Florida-based developer Habitat Group has secured a $24 million loan for the construction of Smart Brickell's Tower 1 from Ocean Bank. Sitting on the 1.23-acre development area, Smart Brickell is a three-tower master project in West Brickell, focusing on three key elements: smart use, smart design and smart tech. Once complete, the mixed-use Tower 1 will hold 50 hotel rooms and 50 condos. Santiago Vanegas, founder, CEO and president of Habitat Group, along with Valentina Perez-Cea, the development director at Habitat Group, led the closing of this construction loan. Smart Brickell Tower 1 is slated for completion in 2021.
Vanegas tells GlobeSt.com that his company looks primarily in the West Brickell area for projects because of the opportunities for development that this area offers. "We currently have seven projects in this area including Smart Brickell Tower 1, Smart Brickell Tower 2, Smart Brickell Tower 3, Be Brickell Hotel, Millux Hotel 1, Millux Hotel 2, and Brickell 12 Hotel," he says.
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