Legacy at 36 Awarded to DAR Finish Specialties, Inc.

DAR Finish Specialties, Inc. has been awarded subcontract to furnish and install doors, frames, door hardware, bathroom specialties, and shelving on the project

"Legacy Residential Group obtained a $50 million construction loan to build apartments near Miami International Airport.

SouthState Bank NA. awarded the mortgage to 3645 Investors LLC, an affiliate of Miami-based Legacy Residential Group, led by Tomas Cabrerizo. It covers the 3.6-acre site at 3645 N.W. 36th St. It was previously a truck parking lot.

Dubbed the Thirty-Six Apartments, the project would total 298,892 square feet in eight stories. It would have 266 apartments, 366 parking spaces, a pool courtyard, a clubroom and a playground.

There would be 142 one-bedroom units and 124 two-bedroom units. They would range from 681 to 1,044 square feet.

The apartment complex is not directly underneath the flight paths of the airport’s runway, but the planes will be clearly visible in the air to the south of the building.

The developer purchased the property for $2.8 million in 2018 and later rezoned it.

With rents in Miami-Dade County increasing at record rates, more developers are eager to build apartment complexes to capitalize on the hot market. The biggest rent increases are in Miami’s urban core, forcing some people to move further away and the area near Miami International Airport is one of the neighborhoods attracting tenants as a result."

By Brian Bandell – Senior Reporter, South Florida Business Journal