Bayshore Grove Capital Tops Out 54-Unit Tula Residences

• 7918 West Drive, North Bay Village, FL: Bayshore Grove Capital and Pacific & Orient Properties have topped out Tula Residences, a 21-story, 54-unit waterfront condominium with completion targeted for Q3 2027.
• The project secured $67 million in construction financing: S3 Capital provided the loan as the development moves toward completion, while Compass Development Marketing Group has joined Brown Harris Stevens on sales and marketing.
• Units start below $2 million: Residences range from approximately 1,590 to 2,440 square feet, with six penthouses spanning the top three floors and reaching more than 4,000 square feet.

What Bayshore Grove Capital Is Building

Tula Residences has reached its highest structural point at 7918 West Drive, marking a major construction milestone for North Bay Village's emerging waterfront condominium market. Bayshore Grove Capital is overseeing development and construction, with Pacific & Orient Properties serving as project developer and A&R Development as general contractor. M77R designed the building, while Shannon Farrell Design is handling interiors.

What The 54 Residences Offer

The condominium will feature two- to five-bedroom residences with wraparound terraces and glass railings. Standard homes range from approximately 1,590 to 2,440 square feet, while six penthouses on the upper three floors will range from roughly 3,700 to 4,140 square feet. The building's hand-troweled stucco exterior is designed around its waterfront setting, with broad terraces providing views toward Biscayne Bay and the Miami skyline.

What Amenities Are Planned

Tula will include approximately 18,000 square feet of amenities, including a sixth-floor pool deck overlooking the water. Residents will have access to a fitness center, great room with marble fireplace, private dining room, Skyline Club Room and a waterfront Vista Lounge with floor-to-ceiling windows. Additional amenities include a private theater, 24-hour concierge and secure package storage.

What The Financing Means

The project's $67 million construction loan from S3 Capital provides financing through the final stages of development. Compass Development Marketing Group has also joined Brown Harris Stevens as co-listing brokerage, expanding the project's sales and broker outreach efforts. With residences priced from below $2 million, Tula is targeting buyers seeking waterfront condominium living while remaining close to Miami and Miami Beach.

What Tula Means For North Bay Village

The development team expects Tula to become the first new condominium to open in North Bay Village in more than a decade when it delivers in Q3 2027. For investors and developers, the project reflects renewed confidence in North Bay Village as a waterfront residential market, with limited new condominium supply and direct access to Miami's major employment, retail and entertainment districts.