Chicago’s CEDARst Breaks Ground on 191-Unit Design-Focused Apartment Development in Little River

Key Points

• 191 upscale rental units across studios, 1–3 beds, plus 8,000 sq ft of retail and 302 parking spaces.

• Equity partners Cantor Fitzgerald and Silverstein Properties joining CEDARst, with ACRE financing; part of a Qualified Opportunity Zone.

• The building broke ground on June 2025 and is on‑track for May 2027 completion.  

Chicago-based CEDARst Companies has launched its first Florida venture in Miami’s emerging Little River neighborhood with a 350,000‑sq‑ft mixed‑use project.

Project Overview

• 191 rental units: 52 studios, 84 one-bedrooms, 43 two-beds, and 12 three-bedroom apartments.

• 8,000 sq ft street-level retail: Featuring 18-ft ceilings to foster walkability and local activity.

• Parking included: 302 spaces, ensuring resident convenience.

Amenities & Design

Designed by ODP Architecture, the development will include:

• Co-working lounges and two sports lounges

• Indoor pickleball court and golf simulator bays

• Pool deck, comprehensive fitness center

• Wellness spa: dry sauna, cold plunge, hot tub.

• A two-story indoor lounge anchoring community space

Equity & Financing

• Equity partners: Cantor Fitzgerald and Silverstein Properties 

• Construction loan provided by ACRE

• $62.5 million loan secured by Cedar Street for the project

Strategic Context & Market Insight

• Qualified Opportunity Zone benefits: tax advantages for long-term investors

• Little River is the next hot growth zone—just east of a proposed $3 billion mixed-use district and benefiting from adjacent area momentum

• Little River rezoning, workforce housing focus, and urban infill align with Miami’s broader CRE trends

Timeline & Scale

• Groundbreaking: June 2025

• Delivery: May 2027, as per multiple sources

• Total footprint: ~350,000 sq ft mixed-use project

CEDARst’s arrival in Miami marks a significant pivot, merging institutional capital, opportunity zone incentives, and amenity-rich, design-forward housing. This project exemplifies the trend of creative infill developments in emerging neighborhoods, appealing to tech-enabled renters and capital looking for tax-advantaged CRE plays. Investors should monitor lease-up trends, retail tenant partnerships, and how this development influences demand in Little River.