Northlink Capital began construction of 7200 Collins, at 7200 Collins Ave. The 12-story development will include 222 one- and two-bedroom units. Each unit will come fully furnished and have a private terrace. Building amenities will include two swimming pools, a fitness center, lounge and event space. Short-term rentals will be allowed.

Pricing averages in the mid-$800,000s, and the units are already 93% pre-sold, according to the developer. Ortega Construction Co. is the general contactor. Revuelta Architecture International designed the project. Completion is expected by the end of 2027.

The building will rise across the street from the North Beach Oceanfront Center, with access to the beach and public volleyball and tennis courts.

The South Florida Business Journal reports Northlink Capital acquired the 0.57-acre property out of foreclosure for $17.33 million in 2021. It previously had several retail buildings before being razed.