A long-planned Live Local Act project in Doral just crossed a big-money milestone. The Apollo Companies’ Oasis at Doral has secured a $58 million construction loan, a key chunk of financing reported on March 27, 2026. The cash moves the planned conversion of the Doral Costa office park closer to actual construction and gives the developers the kind of capital lenders typically want to see in place before any vertical work begins. The proposal still reserves 40% of its apartments as workforce housing under the state’s Live Local Act.
According to the South Florida Business Journal, the $58 million loan is aimed at financing the initial round of construction for the mixed-use conversion. That reporting underscores how this kind of financing often clears a major pre-construction hurdle that many Live Local Act projects struggle with as they try to move from paper plans to shovels in the ground. Public filings continue to list affiliates of The Apollo Companies as the project sponsor.
Project details and site
Plans for Oasis at Doral call for transforming roughly 18 acres at 4090 N.W. 97th Ave. and neighboring parcels at 9800 and 9850 N.W. 41st St. into an eight-building mixed-use complex with more than 600 apartments and about 150,000 square feet of commercial space. As outlined by Holland & Knight, approximately 40% of the residential units are set aside as workforce housing under the Live Local Act. Two existing office buildings on the site are slated to remain, while other structures would be removed to make way for the redevelopment. Arquitectonica is listed as the architect in project materials, and permit filings have entered the public record as the team moves the approvals process along.
Local approvals and earlier compromises
Oasis at Doral has not exactly flown under the radar locally. The city of Doral imposed a temporary moratorium on Live Local Act permits, then later struck a settlement with the developer that trimmed proposed building heights and allowed the application to proceed. Coverage by The Real Deal details the October 2023 council settlement and the 4-1 vote that cleared a path for the plan under the city’s negotiated terms. That earlier tug-of-war helped shape both the project’s timeline and its public profile in Doral.
What the loan means for housing and the market
For Live Local Act developments, locking in construction financing is often the inflection point, and Oasis now joins a growing list of South Florida projects that have managed to attract lender backing through the state’s incentives. A nearby office-to-residential conversion in Doral, for example, picked up a $92.3 million construction loan in February, according to Commercial Observer. Broader industry analysis finds the Live Local Act has sparked a wave of new proposals across Florida and ignited debate over local control and design standards, as documented by CoStar.
Developers still have to clear final permits and satisfy lender conditions before any vertical construction can start, but the $58 million loan takes a major piece of capital risk off the table. Local permitting decisions and the broader policy conversation around Live Local Act projects will continue to shape the timeline, and building-permit filings and contractor selections will be the next concrete signs that Oasis at Doral is officially shifting from concept to construction.
