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Prestige Scores Construction Loan for Hialeah Rental Complex
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Prestige Plans Mixed-Use Project at Hialeah Salvation Army
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Rendering of The Trail multifamily project with Prestige Companies COO Alexander Ruiz and Centennial Bank Southeast Florida Regional President J.C. de Ona
Prestige Companies scored a $12.4 million construction loan for a workforce housing project to be built on the site of a former mobile home park in central Miami-Dade County.
Miami Lakes-based Prestige and Miami-based Florida Value Partners are building the $17 million The Trail garden-style community at 1040 Southwest 70th Avenue, along the planned Ludlam Trail linear park, according to a press release. Conway, Arkansas-based Centennial Bank provided the loan.
The financing is for the first phase, which will include two three-story buildings with 84 units on 2 acres. Construction will be completed in the first quarter of next year, according to the release. The second phase will have five three-story buildings with 230 units. It is expected to be completed in the third quarter of next year.