Apollo Cos And Triarch Capital Land $58M Loan For 623-Unit Oasis At Doral Project

• $58 million construction loan secured for Doral mixed-use development
• 623 units planned, with 40 percent workforce housing
• Large-scale project includes 156,000 square feet of retail and dining

What the construction loan means for project momentum

What the scale and phasing mean for revenue potential

The project will rise nine stories and be delivered in phases, starting with 229 apartments and 64,000 square feet of retail. At full buildout, the development will include 623 units and a substantial retail and restaurant footprint. This phased rollout allows developers to bring product online in stages, helping manage lease-up risk while activating cash flow earlier in the cycle. The mix of residential and retail also creates diversified income streams, which is increasingly important in volatile markets.

What workforce housing requirements mean for deal structure

A key component of the project is its workforce housing allocation, with at least 40 percent of units reserved for households earning up to 120 percent of the area median income. This is tied to Florida’s Live Local Act, which allows developers to increase density and bypass certain zoning limits in exchange for affordability. The tradeoff is clear. While rent growth is capped on a portion of units, developers gain scale, faster approvals, and more predictable occupancy. In markets like Doral, workforce housing continues to see strong, consistent demand, supporting long-term stability.

What the site transformation means for long-term value

The project will rise on an 18-acre site that currently includes office and medical buildings, with at least one structure slated for demolition. This reflects a broader shift across Florida, where developers are repositioning underutilized commercial assets into mixed-use communities. Doral’s growth story remains intact, driven by population gains and business expansion. Adding retail and dining alongside housing positions the project as a destination-style asset, not just a residential play.

What this signals for Florida development trends

The Oasis at Doral highlights how developers are using state-level incentives and flexible zoning to unlock scale. Even in a higher-rate environment, projects that combine housing, retail, and affordability are still attracting capital. For investors, this reinforces a clear trend: well-located mixed-use developments with workforce components continue to offer durable, diversified returns in the Sun Belt.