Thursday, October 22, 2026 Hotel Times Markets, development and the deal wire
Construction & Development

A Revoked Term Sheet Behind Miami-Dade's Largest Live Local Project

$880 million, seven towers, 4,032 attainable units and county approval in August 2025. The roughly $600 million construction loan has not closed.

The approval and the press page

Miami-Dade County cleared The HueHub in the first week of August 2025. The developer's press page dates the coverage across 1-6 August 2025, from Bloomberg and The Real Deal on 1 August to REBusiness Online on 6 August, with Florida YIMBY, Multi-Housing News, Multifamily Executive, The Next Miami, CityBiz and CRE-Sources inside the week.

The project record's announcement chip reads 2026 est. The press page holds the earlier date.

The scheme

The HueHub is an $880 million mixed-use community of seven 35-storey towers on 12 acres at 8395 NW 27th Avenue in West Little River. It carries 4,032 attainable studios, one-bedroom and two-bedroom residences and roughly 200,000 square feet of shared amenities.

Pablo Castro of Urban Network Capital develops with Laura Tauber. Arquitectonica designs. The project record calls it the largest Live Local Act scheme in Miami-Dade County.

The statute behind the height

Florida Statutes s. 125.01055(7)(a)1 requires a county to authorise multifamily and mixed-use residential uses where at least 40 percent of the residential units are rental units affordable for at least 30 years. It bars a county from requiring a zoning change, special exception, conditional use approval, variance or comprehensive plan amendment for the height, zoning and density the subsection authorises. Mixed-use residential projects must put at least 65 percent of total square footage to residential use.

The height is granted against a rent restriction. The record publishes no income band, no restricted-unit count and no compliance period for the 4,032 residences.

Two developers, one in litigation

Court filings reported by Bisnow in August 2026 record that developer counsel Bilzin Sumberg moved to withdraw from the Tauber litigation, with three suits active against the project.

Two names on one project leave a contracting question for any capital partner: which entity signs the construction contract, which entity holds the general contractor's guaranteed maximum price, and which entity carries the completion guarantee.

Ninety days that ran backwards

March 2026: demolition under way, with the vertical groundbreaking still to follow, reported by Florida YIMBY and Multi-Housing News.

June 2026: the roughly $600 million construction loan from a New York lender unclosed, three suits active, no vertical date set, reported by Bisnow.

July 2026: Castro targeting a close at about 60 percent loan-to-cost by month end, with the vertical start unscheduled, reported by The Real Deal.

August 2026: a construction lender revoked its term sheet, the planned July groundbreaking did not happen, and counsel moved to withdraw from the Tauber case.

A revocation after a published month-end closing target is the strongest single signal in the record.

The delivery target and its source

Expected opening reads Q2 2028 on the project record, 22 months from the August 2026 revocation. The developer's own site publishes no completion date, and its reservation line still reads January 2026 under a 2025 copyright.

Attribute Q2 2028 to the project record. No phase schedule, tower sequence or first-occupancy date appears in the file.

The strip that books the loan in June

A detail strip on the project page reads broke ground March 2026, completing Q2 2028, financed with $600 million in June 2026. The June milestone on the same page records that loan as unclosed. The milestone carries a Bisnow citation and the strip carries none.

Take the dated ladder, and hold the strip as display copy until a lender confirmation exists.

Six documents before a vertical commitment

An executed construction loan or a commitment letter with its conditions listed. A guaranteed maximum price with the contracting entity named. Current status of all three suits, with any stay. Title, with any lien recorded against the site. The Live Local Act compliance schedule, with income bands and the restricted-unit count. A schedule carrying a vertical start date.

The county approved the programme in August 2025. The capital has followed on a longer timetable.

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