The 43 story 7th Street Apartments with 450 rental units is starting to rise between NE 1st Street and North Miami Avenue.
CIM Group purchased part of the land for $28 million, which is included in the Miami Worldcenter site. A $89 million construction loan for the site was received in December 2016.
There will also be a second rental tower with the project that will have 413 rental units. Apartments will range from studios to three bedroom units.
Construction is expected to be completed in the fall of 2018.