Development Alliance has secured a $43.3 million construction loan from Ocean Bank to build Nexus Leah, an eight-story, 189-unit apartment building at 1140 East 25th Street in Hialeah. The transit-oriented project sits next to the Tri-Rail/Metrorail transfer hub and is scheduled to wrap up in early 2028. Plans call for a fitness center, co-working spaces, an elevated pool deck with a lanai, and an indoor children’s play area.
Loan Details and Project Amenities
According to ConnectCRE, Ocean Bank provided the $43.3 million in construction financing, with the loan arranged by Jose Lopez, Jesse James Herrera and David Van Sky. The site spans roughly 1.14 acres, and the developer is pitching the building to renters who want easy commuter access paired with family-friendly amenities.
Who's Behind the Project
Florida Division of Corporations records list 1140 East Owner LLC as the entity tied to the parcel and show Development Alliance LLC as manager at a Brickell mailing address, per state filing records. Those filings indicate annual reports were submitted through 2025 and list the company as active in Florida development filings.
Transit Access
The parcel sits at the southeast corner of the Tri-Rail and Metrorail transfer complex, putting residents a short walk from regional rail service to downtown Miami and points north. Tri-Rail and local agencies have recently highlighted service improvements along the corridor, a selling point developers are using to market transit-oriented housing.
What This Means For Hialeah
Nexus Leah joins a growing cluster of large multifamily projects around Hialeah’s transfer hub that have attracted sizable institutional loans. Last year Baron Property Group secured a roughly $206 million construction loan for Metro Parc North, according to Commercial Observer, and MG Developer later obtained a $105 million loan for a nearby multifamily site, The Real Deal reported. Together, those deals underscore steady lender appetite for mid-market rentals situated near mass transit in Miami-Dade.
Timeline And Next Steps
With financing locked in, the developer can move into permitting and pre-construction work ahead of vertical construction. ConnectCRE reports an early 2028 delivery target. Ocean Bank, which notes on its website that it is the largest independent, state-chartered commercial bank headquartered in Florida, provided the loan as part of its commercial real estate lending activity. Local permitting and broader market conditions will ultimately determine when on-site construction begins.
