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South Florida Business Journal
Amerant Bank to open its 1st branch in this city
Amerant Bank will open a new branch in downtown West Palm Beach— its first location in the "Wall Street South" city. <\p> The U.S. Office of the Comptroller of the Current (OCC) approved the Coral Gables-based bank's (NYSE: AMTB) application to launch its West Palm Beach banking center in the Related Cos.' CityPlace Tower at 525 Okeechobee Blvd., Suite 100 on June 3. The OCC received the new branch request in April.<\p>
Lennar breaks ground on 1,860-home community in this state
Lennar Corp. has worked since 2017 to bring a massive, master-planned community along U.S. 521 to Lancaster County. <\p> The homebuilder today broke ground on an active-adult project there that will span over 1,400 aces and include 1,860 homes upon full buildout. The community, named Roselyn, is expected to give a major boost to the U.S. 521 corridor.<\p>
Lennar seeks rezoning for nearly 300-acre site in this state
Mecklenburg County's largest homebuilder appears to be adding to its portfolio in the surrounding region.<\p> Lennar Corp. (NYSE: LEN) has applied to rezone 291.5 acres at 1080 Williamson Farm Lane, just north of Lancaster. The rezoning request is on the agenda for consideration before the Lancaster County Planning Commission tonight. <\p>
Former NFL star plans affordable housing project at church site
Former University of Miami star and Pro Bowl NFL player Jonathan Vilma is part of a proposal to build affordable apartments at a church site near West Palm Beach.<\p> The West Palm Beach Baptist Seventh Day Church and Vilma filed a text amendment application with Palm Beach County officials on May 8. The text amendment would apply to a wider area of the county, but specifically for the purpose of building affordable housing on the 3.37-acre site at 1473 N. Haverhill Road. <\p>
Florida Memorial University president resigns
Florida Memorial University President Jaffus Hardrick stepped down on June 21, leaving his contract three years early due to health reasons. <\p> Mr. William C. McCormick, former chairman of Florida Memorial University Board of Trustees, will serve as interim president, as a presidential search committee is established, according to the university. <\p>
Apartment complex along Biscayne Bay faces foreclosure
An apartment complex along Biscayne Bay in North Miami could be seized in a $3.63 million foreclosure lawsuit.<\p> BCIF Holdings I LLC filed a foreclosure complaint June 19 against Jade on Bay LLC and loan guarantor Joseph Bamberger. It concerns the eight-unit apartment building with a small dock at 11900 N. Bayshore Drive. Property data firm Vizzda confirmed the parties involved. <\p>
Developers obtain $26M construction loan for Miami-Dade warehouse
East Capital Partners and ViletCo Enterprises obtained a $26 million construction loan for a spec warehouse in Hialeah.<\p> First Bank Puerto Rico, doing business as FirstBank Florida, provided the mortgage to co-developers WGC 97th Property LLC, managed by Drew T. DeWitt, co-founder of Darien, Connecticut-based East Capital Partners, and NV Toro Owner, managed by Klaas F. Vlietstra, head of VlietCo Enterprises in Miami. It covers the 9.4-acre site at 16300 N.W. 97th Ave.<\p>
Brightline sets long-distance ridership record in May
Brightline Trains Florida achieved higher year-over-year ridership and ticket sales as the company continues to realign its priorities to serve its “highest revenue portion.”<\p> The Miami-based train service released its May revenue and ridership report on June 20. Brightline operates the 235-mile passenger rail system that connects South Florida and Orlando through six stations.<\p>
Coatue invests $150M in Miami bitcoin miner to support AI firms
Hut 8 is leaning into the high-performance computing business after securing a $150 million investment from Coatue Management. <\p> Based in Miami, Hut 8 is an energy infrastructure provider and bitcoin miner that went public last year. The investment from Coatue, an investment firm founded by billionaire Philippe Laffont, comes as more cryptocurrency miners make moves to meet the growing demand for power from energy-intensive artificial intelligence businesses. <\p>
CRE Tracker: Large warehouse breaks ground in Allapattah
Longpoint Realty Partners and Vivo Real Estate Group recently broke ground on a 107,632-square-foot cold storage warehouse in Miami’s Allapattah neighborhood at 2260 N.W. 27th Ave. <\p> Called Point 27th, the warehouse facility is projected to be finished early next year. It will include high-efficiency refrigeration systems, a glycol system, 37 dock-height doors, two ramps, 35-foot clear ceilings, a private 120-foot truck court, and 2,700 square feet of flexible office space.<\p>
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