Brickell, Miami, September 22, 2025
News Summary
A Miami developer secured $220 million in construction financing to build Domus Brickell Center, a 35-story, 579-unit condominium at 1034 SW 2nd Avenue in Brickell. The package pairs roughly $180 million in C-PACE financing with a $40 million mortgage, enabling energy-efficient and resilient features such as high-performance windows, superior insulation and water and air purification systems. The project, arranged by a boutique capital markets adviser and funded by a PACE affiliate and an international lender, has begun groundwork. Sales launched with units from about $500,000, about 30% sold, and delivery targeted for Q1 2028.
Domus Brickell Center secures $220M financing, including $180M C‑PACE, for 35‑story, 579‑unit tower
A Miami developer has locked in a combined $220 million in construction financing to build Domus Brickell Center, a 35‑story condominium tower planned at 1034 SW 2nd Avenue in Brickell. The funding package pairs roughly $180 million of Commercial Property Assessed Clean Energy (C‑PACE) financing with a $40 million mortgage, allowing the team to advance a luxury, energy‑focused project that is slated to open in the first quarter of 2028.
Key financing and who provided it
The capital stack is structured around a large C‑PACE component arranged by a PACE affiliate and an international mortgage lender. The C‑PACE segment amounts to about $180 million and is structured by a firm affiliated with a national asset manager. An additional $40 million mortgage was provided by a Lima‑based investment firm that stepped in after several regional and international banks declined the deal because of its unconventional financing structure. An advisory firm specializing in boutique capital markets arranged and structured the package, which reportedly took roughly 10 months to negotiate and align.
Why the C‑PACE piece matters
The deal is being described as the largest ground‑up C‑PACE construction financing in South Florida to date. C‑PACE financing is designed to fund energy efficiency, resiliency and renewable energy components for buildings. In this project, qualifying features include water and air purification systems in common areas, high‑performance windows and insulation, and a façade and glazing system that exceeds standard hurricane resilience codes. The C‑PACE loan structure places repayment on the property tax bill over a long term and can sit above or alongside traditional construction lenders in the capital stack, a structural nuance that can complicate lender alignment.
Project basics and design
Domus Brickell Center will rise 35 stories and deliver 579 residences, with a unit mix ranging from studios to two‑bedrooms. Units will be sold fully finished and furnished and will include hard flooring throughout, private balconies, kitchens with premium appliances and modern fixtures. The building’s design team includes an architecture studio known for urban residential work and an interior design firm responsible for the unit and amenity finishes.
Amenities and services
The development will offer a large resort‑quality amenity program that emphasizes wellness, hospitality and flexible work spaces. Publicized amenities include a rooftop pool and sky deck with cabanas and daybeds, a rooftop bar, a hot tub, a rooftop yoga deck, an indoor‑outdoor gym, treatment rooms with indoor‑outdoor access, a steam room, lush garden lounges, co‑working spaces, a conference room, a 24‑hour lobby ambassador, on‑call housekeeping, pet‑friendly features, a signature resident lounge and an on‑site lobby‑level restaurant. The service and amenity set supports short‑term rental friendliness for owners who plan to participate in a managed rental program.
Sales, costs and timeline
Sales launched last year led by a local brokerage firm, with prices starting around $500,000 and rising to about $1.5 million for larger units. Roughly 30% of units have been reported sold. The developer expects to spend approximately $300 million to complete the project. Groundwork has already begun, with reports noting a recent groundbreaking and construction starting earlier this month. The delivery window is targeted for the beginning of 2028.
Site and local context
The project sits on a roughly half‑acre site that was purchased for nearly $15 million in 2023. It occupies a block west of the city’s elevated Metrorail line in an area of Brickell that historically had less development than the waterfront corridor but has seen a rise in new projects and financing activity. The tower is one of several new condo and mixed‑use developments planned in the neighborhood, and the financing marks a significant use of C‑PACE in the local market.
Financing challenges and significance
Structuring the package required close coordination between the mortgage lender and the C‑PACE lender, and officials involved said the process was iterative and took several rounds of negotiation. The C‑PACE loan is the first C‑PACE execution for the developer and is notable because it uses the program at a scale and for ground‑up construction that has been rare in South Florida. The financing is expected to allow the project team to move forward with energy‑efficient and resilient features that might otherwise be harder to fund.
Where this fits in developer’s pipeline
The planned condo tower is part of a broader pipeline that includes another short‑term rental‑friendly Domus project in Brickell and a proposed large hotel concept. The developer will operate a rental management program tied to the Domus brand for owners who opt into short‑term rental operations.
Frequently Asked Questions
What is Domus Brickell Center?
Domus Brickell Center is a planned 35‑story condominium building at 1034 SW 2nd Avenue in Miami’s Brickell neighborhood. The tower will contain 579 residences and a wide suite of hospitality‑style amenities.
How much financing was secured and from whom?
The project secured a combined $220 million package: roughly $180 million in C‑PACE financing and a $40 million mortgage. The C‑PACE piece was structured by a PACE affiliate tied to a national asset manager; the mortgage came from an international investment lender. A boutique capital markets adviser arranged the deal.
What is C‑PACE and how will it be used?
C‑PACE is a financing tool for energy efficiency, resilience and renewable energy upgrades that is repaid via assessments on the property tax bill. For this project, C‑PACE proceeds will support features such as purified air and UV‑filtered water systems, high‑performance windows, superior insulation and an above‑code façade and glazing system.
When will the building open?
Construction completion and opening are scheduled for the first quarter of 2028, with ground work already underway and construction reported to have started recently.
Are the residences resale or short‑term rental friendly?
The building is being positioned to support short‑term rentals, with hospitality‑style services and a management program available for owners who choose to rent their units on a short‑term basis.
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Key project features
| Feature | Details |
|---|---|
| Project name | Domus Brickell Center |
| Developer | Miami‑based developer partnership |
| Address | 1034 SW 2nd Avenue, Brickell |
| Height / Stories | 35 stories |
| Units | 579 residences (studios to two‑bedrooms), fully finished and furnished |
| Financing | $220M total — including ~$180M C‑PACE and $40M mortgage |
| Estimated total cost | About $300M |
| Delivery | Q1 2028 |
| Notable amenities | Rooftop pool and sky deck, rooftop bar, gym, yoga deck, treatment rooms, co‑working, on‑site restaurant, 24‑hour lobby ambassador |
| Sales status | Launched; units started at ~$500,000; around 30% sold |
| Sustainability / Resilience | Designed to meet green building standards and includes multiple energy‑efficient, resilient systems that qualified for C‑PACE support |
Deeper Dive: News & Info About This Topic
Additional Resources
- YieldPro: Domus Brickell Center
- Wikipedia: Property Assessed Clean Energy (PACE)
- Bisnow: North Development lands $220M C‑PACE construction loan for Brickell project
- Google Search: Domus Brickell Center
- Multi-Housing News: North Development obtains record C‑PACE financing for Miami condos
- Google Scholar: C‑PACE financing Miami
- Commercial Observer: Domus Brickell Center financing details
- Encyclopaedia Britannica: Brickell (search)
- The Real Deal: Dunin, Edifica land $220M financing for Domus Brickell Center
- Google News: Domus Brickell Center
Author: Construction FL News
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