Seventeen Gables Secures $60 Million Construction Loan

BAM Development and Ascendra Capital have officially secured a $60 million construction loan for their highly anticipated Seventeen Gables condominium project in Coral Gables, signaling immediate movement on the luxury residential development.

Major Financing Secured With Dwight Mortgage Trust

The project’s $60 million construction loan was sourced through Dwight Mortgage Trust, an affiliate of Dwight Capital. The financing team included David Scheer and Alex Izso, while Filler Capital represented the development partnership in structuring and securing the transaction.

Locking in construction financing at this stage is a meaningful milestone, particularly in today’s tighter lending environment. With funding in place, the development team has significantly reduced execution risk — a factor that should provide reassurance to prospective buyers evaluating the project.

Prime Coral Gables Location and Immediate Construction

Seventeen Gables is located at 1715 Douglas Road, close to the heart of Coral Gables with walkable access to Miracle Mile, local dining, shops, and less than 20 minutes to Brickell and Downtown Miami.

Construction is set to begin immediately following closing on the financing, with site work and vertical build-out underway as sales continue concurrently.

Upscale Residences with Contemporary Design

The eight-story, 120-unit condominium will feature a mix of one-, two-, and three-bedroom residences. Designed to blend classic Coral Gables architecture with modern layouts and finishes, most units are expected to be priced from the mid-$600,000s to under $1 million—a notable entry point for new luxury developments.

Interior design is led by Asprea Studio/Karen Asprea, and architectural plans are by Caymares Martin A&E Design.

Seventeen Gables Amenities

The development will offer a robust suite of resident amenities, including:

• Resort-style pool
• Fully equipped fitness center
• Sauna
• Club room and social lounge
• Children’s playground
• Half basketball court
• Conference room
• Assigned parking

This mix of amenities aligns with lifestyle expectations for luxury condominium living in Coral Gables.

What This Means for Coral Gables and South Florida

The Seventeen Gables project highlights continued demand for well-positioned, amenity-rich residential developments in Coral Gables and the broader South Florida condo market. With financing now secured and construction set to commence, this project underscores investor confidence and buyer interest in high-quality housing options near established shopping, dining, and cultural destinations.