PMG, in partnership with Lion Development Group and LNDMRK Development, has secured $92.5 million in construction financing to move forward with One West Twelve Residences (ONE W12), a major residential development in Miami’s Historic Overtown neighborhood.
The 23-story tower will feature 372 residential units and is being funded through a construction loan provided by Maxim Capital Group. John Moriarty & Associates has been selected as the project’s general contractor, while architectural firm CUBE 3 is responsible for the building’s design. Construction is expected to continue through completion in 2028.
ONE W12 has already demonstrated strong market demand, with PMG Residential leading sales efforts and reporting that the project is currently 97 percent sold. Residences will be delivered fully finished and furnished, positioning the development to appeal to both end users and investors seeking turnkey condominium offerings in a rapidly evolving urban district.
The development will also include a ground-floor food and beverage component, with Vibe BBQ set to open a quick-serve restaurant within the building, adding an amenity that enhances street-level activity and neighborhood engagement.
The financing transaction was arranged by PMG’s Capital Markets team, led by Andrew Warman, Jonathan Blank, and Paton Marion, underscoring the firm’s continued ability to secure large-scale funding amid a competitive lending environment.
Located in Historic Overtown, ONE W12 is part of a broader wave of investment aimed at revitalizing one of Miami’s oldest neighborhoods. The project is expected to contribute new housing supply, activate the surrounding streetscape, and support continued economic growth in the area as construction progresses toward its anticipated 2028 completion.
Originally reported by Mike Boyd in Connectcre.
