A Buenos Aires-based developer has secured more than $111 million to break ground on a towering mixed-income residential project in Miami's Edgewater neighborhood, anchoring a broader $368 million round of South Florida construction financing that signals sustained lender appetite for the region's real estate market.

HA Emprendimientos, an Argentine development firm, obtained the $111 million construction loan from New York-based lender S3 Capital for Sense22, a 36-story tower planned for the Edgewater waterfront corridor. The project will deliver 328 residential units, with 40 percent designated as affordable housing under Florida's Live Local Act — a state law that grants developers height and density bonuses in exchange for below-market-rate units. The arrangement allows the tower to rise well above what local zoning would otherwise permit, a trade-off that has become increasingly common along Miami's bayfront neighborhoods.

The Edgewater deal was the largest single transaction in a package of loans that totaled $368 million across multiple South Florida projects. In Broward County, Fort Lauderdale-focused developer Dependable Equities landed a $54 million pre-construction loan for a large-scale luxury residential development designed by the internationally recognized architecture firm ODA. That project is slated to produce two towers with a combined 1,460 units, adding significant density to a Fort Lauderdale submarket that has seen growing interest from both renters and institutional capital.

Rounding out the financing activity, Deerfield Beach-based real estate firm Grover Corlew secured a $30 million loan from BankUnited for an office complex spanning roughly 223,700 square feet in Deerfield Beach — a relative outlier in an otherwise residential-heavy deal slate, and a reminder that commercial office development has not entirely disappeared from South Florida's pipeline despite ongoing national uncertainty in that sector.

Taken together, the transactions reflect a regional lending environment that remains notably active compared to other major U.S. metros, where tighter credit conditions have slowed construction starts. South Florida's multifamily fundamentals — driven by continued population growth and a persistent shortage of both market-rate and workforce housing — continue to attract capital from domestic and international sources alike.

For Edgewater specifically, the Sense22 financing adds to a stretch of high-rise development that has transformed the neighborhood over the past decade from an industrial backwater into one of Miami's most densely developed residential corridors. Whether 40 percent affordable units at a luxury tower truly serves the neighborhood's working-class residents or primarily satisfies a zoning checkbox remains a question local advocates have pressed on similar projects.

The original reporting was published by The Real Deal Miami.