One of Miami's most closely watched transit-oriented developments just cleared its last big hurdle. 13th Floor Investments and Barings secured a $134 million construction loan to build Crescendo, the fourth and final residential tower at Link at Douglas, according to South Florida Agent Magazine. Here's what the project is, why the financing matters, and what it signals for buyers, renters, and investors near the Douglas Road Metrorail.
What is Link at Douglas — and Crescendo?
Link at Douglas is a seven-acre, four-tower mixed-use community at 3070 SW 37th Avenue, wedged between Coral Gables and Coconut Grove and connected directly to Miami-Dade County's Douglas Road Metrorail Station. When complete, the four towers will hold more than 1,500 residential units alongside retail. The first two towers — Core and Cascade — plus 30,000+ square feet of retail anchored by Milam's Market opened in 2023; the third tower, Cadence, is due in 2028. Crescendo, the 37-story final tower, is set to deliver in 2029.
The financing — and the public investment behind it
The $134 million construction loan was led by Santander Bank, in partnership with TD Bank and First Horizon Bank. Just as telling as the private capital is the public partnership: the development team worked with Miami-Dade County and its Department of Transportation and Public Works to put more than $17 million into public infrastructure — a new public plaza connecting to The Underline linear park and a renovation of the Metrorail station itself. 13th Floor CFO Daryl Shevin called Crescendo "far more than the final tower," describing it as the culmination of years of planning with the county. The developer's pipeline continues nearby with Link at SoMi, a planned two-tower, 670-unit community next to the South Miami Metrorail Station.
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Why this matters for the local market
- Transit-oriented living is the growth story. Walkable, Metrorail-connected communities are exactly what a growing share of Miami buyers and renters want — and lenders are funding them at scale.
- Capital is confident in Miami. A $134M construction loan from a bank syndicate in today's rate environment is a strong vote of confidence in the Coral Gables/Coconut Grove corridor.
- New supply reshapes nearby values. 1,500+ units, new retail, a public plaza and an upgraded station tend to lift surrounding property values and rents — something to watch if you own or are buying nearby.
What it means for buyers and sellers
Whether you're renting, buying, or investing, a project like Crescendo is worth understanding. New transit-oriented supply can mean more choice and competitive pricing in the near term, and stronger long-run value as the neighborhood matures around the Metrorail and The Underline. If you're considering the Coral Gables–Coconut Grove corridor — or any Miami submarket seeing this kind of investment — a local agent can tell you how new development is likely to affect the specific building or street you care about.
The bottom line
A $134M loan to complete a 1,500-unit, transit-connected community is more than a construction headline — it's a signal about where Miami is heading: denser, walkable, and built around transit. That direction shapes values, rents, and lifestyle for the whole corridor. A local agent who tracks these projects can tell you what Crescendo and Link at Douglas mean for your buying, selling, or investing plans.
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Frequently Asked Questions
Crescendo is the 37-story, fourth and final residential tower at Link at Douglas, a transit-oriented community at 3070 SW 37th Avenue connected to the Douglas Road Metrorail. It is set to deliver in 2029.
13th Floor Investments and Barings secured a $134 million construction loan, led by Santander Bank in partnership with TD Bank and First Horizon Bank, according to South Florida Agent Magazine.
It sits at 3070 SW 37th Avenue between Coral Gables and Coconut Grove, directly connected to Miami-Dade County's Douglas Road Metrorail Station and adjacent to The Underline linear park.
Large transit-oriented projects add housing, retail, and public amenities that often support surrounding values and rents over time. A local agent can explain the likely impact on a specific building or block.
