South Florida developers knocked out a combined $115 million in construction loans for Miami condo towers that are nearly sold out, as the demand for hospitality-branded residences heats up in the region. 

North Development paid off a $70 million loan to Forman Capital and Core Capital for Domus Brickell Park, while Rosso Development and Midtown Development paid off a $45 million mortgage to Arkansas-based Bank OZK for The Standard Residences, Midtown Miami.

The projects have hit major milestones. 

North’s 172-unit Domus Brickell Park recently opened and has posted 120 closings, while Rosso and Midtown’s 228-unit Standard Residences is nearing completion with only five units left to sell.

North Development, a partnership between Ricardo Dunin’s Oak Capital and Juan Carlos Tassara’s Edifica, paid off its loan in April for the building at 1611 Southwest Second Avenue. 

The project offers a mix of studios, one-bedroom and two-bedroom units that are short-term rental friendly. Units were marketed from the $600,000s to $1.2 million.

Zyscovich Architects is the architect, and Urban Robot Associates is the interior design firm. Amenities include the Peacock Room, which Dunin previously described as an activated lobby with food and beverage concepts, a market, and co-working spaces for guests and the public that were inspired by the ACE hotel in New York. 

The payoff comes as North pushes ahead with Domus Brickell Center, another short-term-rental-friendly condo tower nearby. The developer said that 35-story, 579-unit project at 1034 Southwest Second Avenue is more than 50 percent sold and ahead of schedule. Less than a year ago, the project secured $220 million in financing, consisting of $180 million in C-PACE funding from Coral Gables-based Bayview PACE and a $40 million mortgage from Core Capital.

A few miles north, Rosso Development and Midtown Development paid off a $45 million construction loan for The Standard Residences, Midtown Miami, the first standalone residential project from the lifestyle hospitality brand. Another Standard-branded residential tower is under development in Brickell by Newgard Development Group and Two Roads Development.

Designed by Arquitectonica, the 12-story Midtown project includes 228 residences and more than 34,000 square feet of amenities, featuring a rooftop pool, pickleball court, coworking spaces and several food-and-beverage offerings, including a Juvia Group restaurant on the rooftop. 

Units range from 432 square feet to 965 square feet, and include studios to two-bedroom condos. Owners will be able to rent their units out for terms as short as one month. In October 2023, fewer than 35 units remained, priced between $500,000 to $1 million.

A JLL Capital Markets debt advisory team led by Brian Gaswirth and Jimmy Calvo arranged the financing in 2023. According to JLL, the loan was paid off ahead of schedule.

Bank OZK is one of South Florida’s most active condo construction lenders. The bank also provided PMG’s state record-setting $668 million construction loan for Waldorf Astoria Residences Miami, which is expected to become the tallest residential tower south of New York City.

Even as interest rates have gradually come down in recent years, the environment is still relatively high, and construction costs continue to climb.

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Juvia to open rooftop restaurant at Standard Residences in Midtown

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Standard Residences in Midtown Miami scores $45M construction loan

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Ricardo Dunin, Juan Carlos Tassara land $220M financing for Domus Brickell Center

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Ricardo Dunin, Peruvian partner score $70M loan for Domus Brickell

A car crashed into a southwest Miami-Dade home Sunday evening, leaving the structure unlivable and displacing a family of five, authorities said.

The crash happened near the intersection of Monroe Street and Douglass Drive and involved two vehicles, according to the Miami-Dade Sheriff’s Office. Doorbell camera video captured the moment of impact and the chaotic aftermath as neighbors rushed to help.

Five family members were inside the home at the time of the crash, including an 84-year-old woman. No one inside the house was injured, but the damage to the home was extensive.

“I was frantic. I was scared,” said Ken Charles, a relative who rushed to the scene to check on his grandmother. “I had to jump up and head straight over here and see what’s really going on.”

A woman who lives in the home, who asked not to be identified by her full name, said she initially thought something far worse had happened.

“I didn’t know if it was a gunshot, if it was a bomb, if it was a police chase,” she said. “So I looked outside and saw the car smoking.”

Emergency crews transported three people involved in the crash to a hospital with injuries ranging from stable to critical, officials said. Doorbell video shows neighbors and occupants of the vehicles attempting to help the injured moments after the collision.

Residents in the neighborhood said speeding and drivers running stop signs are ongoing concerns in the area, though they said crashes this severe are uncommon.

“There is no reason for him to be going so fast,” the resident said.

The American Red Cross responded late Sunday evening to assist the displaced family with temporary housing. Charles said the family does not have insurance and is now facing major financial challenges.

“We really do need the help,” he said. “It’s very difficult, and it’s not easy. We don’t know how we are going to get by.”

Authorities have not released an update on the conditions of those injured or said whether any charges will be filed. The investigation remains ongoing.

Miami is many things: a beach town, a nightlife capital and a place where people will gladly queue for a cafecito. But increasingly, it’s also becoming one of the country’s most serious pizza destinations.

That’s according to the newly released 50 Top Pizza USA 2026 ranking, one of the world’s most influential pizza guides, which just named three Miami pizzerias among the top 15 in the United States—and gave the city another major nod in its ranking of the country’s best slice shops.

Leading the local charge is Francesco Martucci, which landed at No. 5 nationally, making it the highest-ranked Florida pizzeria on the list. The restaurant finished behind only a handful of heavy hitters, including New York’s top-ranked Una Pizza Napoletana and California standouts Pizzeria Sei and Tony’s Pizza Napoletana.

Two more local favorites—La Leggenda and ‘O Munaciello—tied for 11th place nationwide, giving Miami three pizzerias in the guide’s top 15. That’s a remarkable showing for a city that, until relatively recently, wasn’t exactly mentioned in the same breath as New York or Naples when pizza debates broke out.

And if your pizza preference involves a quick foldable slice rather than a sit-down pie, Miami earned another bragging right. Miami Slice was named the third-best pizza slice shop in the country, trailing only New York’s L’Industrie Pizzeria and Washington, D.C.’s Slice & Pie.

The rankings were unveiled on Wednesday during an awards ceremony in New York. This year’s guide features 116 pizzerias across 29 states, with Florida earning 10 total entries—trailing only New York and California for overall representation. For a city better known for stone crabs and Cuban sandwiches, that’s a pretty impressive slice of recognition.

The 50 best pizza spots in the U.S. for 2026

1. Una Pizza Napoletana — New York, NY
2. Pizzeria Sei — Los Angeles, CA (tie)
3. Tony’s Pizza Napoletana — San Francisco, CA (tie)
4. Razza — Jersey City, NJ
5. Truly Pizza — Dana Point, CA
6. Francesco Martucci — Miami, FL
7. Don Antonio — New York, NY
8. Jay’s — Kenmore, WA
9. Ribalta — New York, NY (tie)
10. Robert’s — Chicago, IL (tie)
11. Leña — Cleveland, OH
12. Ken’s Artisan Pizza — Portland, OR
13. La Leggenda — Miami, FL (tie)
14. ‘O Munaciello — Miami, FL (tie)
15. Valentina’s — Madison, WI
16. Stretch Pizza — New York, NY
17. Audace — New York, NY
18. Pasquale’s — South Kingstown, RI (tie)
19. Pizza Secret — New York, NY (tie)
20. Pizzeria Beddia — Philadelphia, PA
21. Ops — New York, NY
22. Partenope Ristorante — Dallas, TX
23. MPN – Mission Pizza Napoletana — Winston-Salem, NC
24. Inferno Pizzeria Napoletana — Darnestown, MD
25. Kesté — New York, NY
26. Flour House — San Luis Obispo, CA
27. Il Forno — San Antonio, TX
28. Fabrica Pizza — Tampa, FL
29. Nardò — Huntington Beach, CA
30. GRANA — Portland, OR
31. Pizza Delicious — New Orleans, LA
32. Coals — Louisville, KY
33. Craft 64 — Scottsdale, AZ
34. Sho Pizza Bar — Nashville, TN
35. Bricco — Haddon Township, NJ
36. Salsa — New York, NY
37. Antico Pizza — Atlanta, GA
38. Zeneli — New Haven, CT
39. Posto — Somerville, MA
40. Andrew Bellucci’s Pizzeria — New York, NY
41. A Modo Mio — Arlington, VA
42. Tribute Pizza — San Diego, CA
43. Pasquale Jones — New York, NY
44. Pizzeria Florian — East Aurora, NY
45. Penelope Pizza — Tucson, AZ
46. Pizza Baby — Charlotte, NC
47. Coda di Volpe — Chicago, IL
48. Angeli’s Pizzeria — Baltimore, MD
49. Lincoln Winebar — Mount Vernon, NY
50. Hapa Pizza — Beaverton, OR
51. Si Cara. — Cambridge, MA
52. Nostrana — Portland, OR
53. Quattro — Boston, MA
54. Lucky Dough Pizza — Pensacola, FL