A small condo project in Mid-Beach has secured a $19.5 million construction loan, Commercial Observer reported October 9, citing property records.

The loan from S3 Capital backs Twenty Nine Indian Creek at 2901 Indian Creek Drive. Trinity Southern is the developer. Its current plan calls for 16 homes: 14 condos and two townhomes.

A construction loan pays for building work. The amount borrowed is not the same as the full cost of the project. For buyers following this address, the financing is the latest reported step toward a much smaller building than the large condo towers found elsewhere on Miami Beach.

What is planned

The current project website lists homes from 842 to 3,500 square feet, with prices starting at $1.5 million. Those are asking prices from the sales team, not prices recorded from completed home sales.

The developer estimates delivery in 2027. That is the date it expects to hand over the finished homes. Buyers should treat it as a target when making plans for a move, a lease or a sale of their current home.

Urban Robot is the design firm. SERHANT’s project page also lists Trinity Southern and the same mix of 14 residences and two townhomes. Its amenity plan includes a rooftop pool and fitness and wellness spaces.

A small project with a wider range of homes

Rendering: Proposed rooftop pool at 29 Indian Creek. Rendering from current project website.
Rendering: Proposed rooftop pool at 29 Indian Creek.

The current townhome plans range from two to five bedrooms and from 1,750 to 3,500 square feet. The developer’s home details list nine-foot ceilings, floor-to-ceiling glass and direct access to terraces. Some wraparound terraces have curved railings that reflect the Art Deco style.

Commercial Observer reported that Trinity Southern closed the site purchase along with the construction loan. The lender is S3 Capital. The financing report was published October 9.