Terra Secures $507 Million Financing for 1250 West Avenue
Terra, alongside RG Development Group, GV Development, and LORE Development, has obtained a $507 million construction loan from TYKO Capital to advance plans for a new 28-story waterfront condominium at 1250 West Avenue in Miami Beach. Positioned along the western edge of Miami Beach, the proposed tower will overlook Biscayne Bay and feature 106 residential units.
The financing represents a significant milestone for the development team as preparations continue for the next phase of the project. Condominium sales are expected to launch in 2027, introducing a new luxury residential offering to Miami Beach’s waterfront market.
The planned tower will prioritize views of Biscayne Bay and the Miami skyline, with residences designed around the relationship between indoor spaces and outdoor living. The project will also incorporate ground-floor retail, subterranean parking, and tropical landscaping throughout the property.
For buyers exploring luxury homes in Miami, the development adds another anticipated residential destination to the region’s evolving collection of high-end properties.
Terra Leadership Highlights the Importance of the Financing
David Martin, CEO of Terra, described the construction loan as a key step forward for the development, emphasizing the project’s waterfront setting and its intended contribution to the surrounding neighborhood.
“Securing this financing from TYKO is an important milestone for 1250 West Avenue and reflects the strength of the project and our long-term conviction in Miami Beach,” Martin said. He also highlighted the opportunity to create a distinctive residential experience while investing in the surrounding neighborhood and public realm.
The financing will support the team as it moves toward realizing its plans for the property in partnership with RG Development Group, GV Development, and LORE Development.
The project’s combination of waterfront residences, private amenities, retail space, and proposed public-realm improvements is intended to create a development that connects luxury living with the broader Miami Beach community.
TYKO Capital Backs a Major Miami Beach Waterfront Development
For TYKO Capital, the transaction reflects continued interest in Miami Beach’s luxury residential market, where opportunities for large-scale waterfront development remain limited.
Adi Chugh, Founder and CEO of TYKO Capital, pointed to the scarcity of comparable bayfront development sites and Terra’s experience executing projects in South Florida. He also noted the development team’s familiarity with the local market as a factor in the financing decision.
Chugh said Miami Beach remains one of the country’s most supply-constrained luxury markets, making projects with direct waterfront settings particularly distinctive. He added that TYKO Capital intends to continue expanding its presence in South Florida through projects and development partners with relevant experience.
The $507 million loan positions 1250 West Avenue to move closer to construction while adding another major project to the region’s pipeline of luxury condominium developments.
Waterfront Residences With Resort-Inspired Amenities
The proposed 28-story building will include 106 residences oriented toward Biscayne Bay and the Miami skyline. Its design is expected to emphasize indoor-outdoor living, complementing the waterfront setting with landscaped spaces and residential amenities.
The amenity program is planned to include swimming pools at both the ground level and rooftop, a spa, and a padel court. The development will also feature two penthouse residences at the top of the tower, each designed with a private rooftop swimming pool and dedicated amenity space.
These upper-level residences are intended to offer an elevated level of privacy and outdoor space, while the broader amenity collection will provide residents with opportunities for recreation, relaxation, and social gatherings.
Ground-floor retail will add a commercial component to the development, while underground parking is planned to accommodate residents and visitors. Tropical landscaping will be integrated throughout the property to reinforce the project’s relationship with its coastal surroundings.
Baywalk Improvements Aim to Expand Public Waterfront Access
Beyond the condominium tower, the development team has proposed enhancements to the public realm along the western shoreline of Miami Beach. Planned improvements include upgrades to the Baywalk, with the goal of expanding public access to the waterfront and improving pedestrian connections along the bay.
These proposed enhancements form part of the project’s broader neighborhood contribution, complementing its private residential and hospitality-style features with improvements intended to benefit the surrounding area.
The Baywalk component is particularly relevant to the site’s waterfront location, where pedestrian connectivity and public access can strengthen the relationship between new development and the shoreline.
As plans progress, the project’s public-realm proposals will be an important part of how the development integrates with its Miami Beach setting.
Terra Continues Expanding Its South Florida Development Portfolio
The 1250 West Avenue condominium adds to Terra’s growing portfolio of residential and hospitality projects throughout South Florida. The firm recently completed Five Park, a 48-story condominium tower located at the entrance to South Beach, and is also developing the 800-room Grand Hyatt Miami Beach beside the Miami Beach Convention Center. The hotel project is currently under construction.
Terra’s other active residential developments include Villa Miami in Edgewater, Jean-Georges Miami Tropic Residences near the Miami Design District, THE WELL Coconut Grove, and Mr. C Hotel & Residences West Palm Beach.
Together, these projects reflect the company’s involvement in a range of residential and hospitality developments across the region, from waterfront condominiums to hotel-led destinations.
For those following the wider market, Miami waterfront real estate continues to offer insight into the locations and property types shaping the region’s luxury residential landscape.
Sales at 1250 West Avenue Expected to Begin in 2027
With the $507 million construction loan secured, Terra and its partners are preparing to advance the proposed 28-story condominium at 1250 West Avenue. The project is planned to deliver 106 residences, an extensive amenity offering, ground-floor retail, and improvements to the surrounding waterfront public realm.
Condominium sales are expected to launch in 2027. The project’s progress will be closely watched as Miami Beach continues to attract investment in luxury residential properties, particularly in locations offering direct bayfront views and access to outdoor recreation.
For additional updates on South Florida’s luxury property market and new residential developments, visit miamishome.com.
Frequently Asked Questions
1. Where is the 1250 West Avenue condominium planned?
The development is proposed at 1250 West Avenue along the western shoreline of Miami Beach, overlooking Biscayne Bay.
2. How much construction financing has the project secured?
Terra and its partners secured a $507 million construction loan from TYKO Capital.
3. Who is developing 1250 West Avenue?
The development team includes Terra, RG Development Group, GV Development, and LORE Development.
4. How tall will the condominium tower be?
The proposed building will rise 28 stories and contain 106 residential units.
5. What amenities are planned for residents?
Planned amenities include ground-level and rooftop swimming pools, a spa, a padel court, and two penthouses with private rooftop pools and dedicated amenity spaces.
6. Will the project include improvements for the public?
Yes. The development team has proposed Baywalk enhancements intended to expand public waterfront access and improve pedestrian connectivity along the western shoreline of Miami Beach.
7. When are condominium sales expected to begin?
Sales for 1250 West Avenue are expected to launch in 2027.
8. What other South Florida projects is Terra involved in?
Terra’s portfolio includes the completed Five Park condominium tower, the Grand Hyatt Miami Beach currently under construction, Villa Miami, Jean-Georges Miami Tropic Residences, THE WELL Coconut Grove, and Mr. C Hotel & Residences West Palm Beach.
