Terra and One Thousand Group have secured a $285 million construction loan to build Villa Miami in Miami’s East Edgewater neighborhood. The first-ever residential tower, branded by Major Food Group (MFG), will be a 650-foot-tall waterfront condominium featuring 70 private residences designed by ODP Architects. Construction of Villa Miami broke ground earlier this month and is slated for completion in 2027. Moss Construction is the general contractor.

The financing was provided by TYKO Capital, which is backed by Elliott Investment Management.

Set to rise 650 feet and 56 stories, Villa Miami ‘estate-style’ residences, each featuring expansive full half-floor layouts with views of Biscayne Bay and the Miami skyline. With residences starting at $5 million, Villa Miami’s units range from 3,000 to 6,000 square feet. Completion is anticipated in the fourth quarter of 2027.