Astor Companies Breaks Ground on Havana Enclave with $36 Million Loan from Ocean Bank

Key Points

• Astor Companies has started construction on Havana Enclave, a 179-unit rental project in Miami's Little Havana.

• The firm secured a $36 million construction loan from Ocean Bank.

• A crane has already been installed onsite, signaling active development toward a projected early 2027 completion.

Astor Companies, led by developer Henry Torres, is expanding its footprint in Little Havana with a new multifamily project: Havana Enclave. Backed by $36 million in construction financing from Ocean Bank, this 179-unit rental development is now underway. 

Construction Progress and Financing

Located at 315 NW 27th Avenue, Havana Enclave sits on 1.17 acres at the western edge of Little Havana. Astor closed on a $36 million construction loan from Ocean Bank to fund the project. A crane is already up at the site, confirming that work is progressing. The project is slated for completion in early 2027.

Project Design and Features

Havana Enclave will rise eight stories and include 179 market-rate units. The mix will range from studios to one- and two-bedroom apartments. Approximately 1,866 square feet of ground-floor retail space is also planned. Residents will have access to amenities including a pool, fitness center, business center, meeting room, pet washing station, barbecue area, and a children’s playroom.

Astor's Development Track Record

This is far from Astor’s first venture into Little Havana. The firm recently completed Douglas Enclave, a 199-unit attainable-rent development that reached lease-up stabilization in August 2024. Prior to that, Astor delivered InTown, a two-tower apartment complex, and the Brickell Vista condominium building. The company’s broader portfolio includes projects in emerging submarkets like The Roads, Coconut Grove, Coral Gables, and South Miami.

Strategic Positioning and Market Context

Henry Torres and the Astor team have positioned themselves as key players in delivering attainable market-rate housing across Miami. The firm has a reputation for identifying undervalued neighborhoods and bringing in high-quality residential products. In Little Havana, demand for new rental housing remains strong due to proximity to Downtown Miami and Coral Gables, two employment-rich zones.

Little Havana's Evolution

Havana Enclave reflects Astor Companies’ sustained focus on infill multifamily development in Miami’s transitioning neighborhoods. With construction now underway and financing secured, the project is well-positioned to deliver new housing by early 2027—meeting strong demand while contributing to the evolving fabric of Little Havana.