Florida East Coast Realty has received a $340 million construction loan for its Panorama Tower project on Brickell Avenue. TWJ 1101, an affiliate of FECR, secured the loan thru Wells Fargo Bank, acting on behalf of a group of lenders. FECR anticipates 20 percent of the $800 million project’s funding to come from the EB-5 visa program.The project is eligible for the program because it is expected to produce 1,900 construction jobs, 192 management employees, 800 tenant employees and 220 visiting students to the city. The Panorama will have 821 apartments, 208 hotel rooms, 50,000 square feet of retail space and a 100,000 square foot medical space. Construction has already started with an anticipated completion in early 2018.
