A boutique condo project on Indian Creek Drive that spent years tangled in litigation has finally secured the money it needs to reach the finish line. Trinity Southern has closed on a $19.5 million construction loan from S3 Capital for 29 Indian Creek, the 16-residence development at 2901 Indian Creek Drive in Miami Beach that is already about a quarter complete and more than 70 percent sold.
A New Lead Developer Takes the Reins
The loan closing came with a parallel transaction: New York-based JMH Development transferred ownership of the 15,000-square-foot property at 2901 and 2911 Indian Creek Drive to Trinity Southern for $8 million the same day the construction financing closed, according to The Real Deal. JMH remains on board as an equity partner and advisor, but Trinity Southern has now assumed lead developer status on the project, which marks the New York firm's first South Florida residential development, according to Florida YIMBY. Trinity Southern, led by co-principals Bill and Dana Lozito, purchased its interest in the project in September 2025.
JMH originally acquired the 0.3-acre site in 2017 for $7.8 million, a baseline that underscores just how much prime Mid-Beach land has appreciated amid scarce waterfront inventory, per the same account from The Real Deal. The site sits on Indian Creek Drive near 29th Street, west of Collins Avenue and within walking distance of the Atlantic Ocean, in a stretch of Mid-Beach that includes the Faena District and a mix of residential and hospitality properties along the waterfront, per Florida YIMBY.
Presales and Project Scope
County filings show 29 Indian Creek encompasses 24,842 square feet of sellable residential space, and developer Dana Lozito confirmed that 10 of the 16 residences were pre-sold before the loan closed, according to the Commercial Observer. Private construction lenders typically require presales covering a significant share of project value before releasing funds, the outlet notes. Florida YIMBY reports that sales overall have surpassed 70 percent since the project launched in March 2025, with SERHANT. New Development serving as the exclusive sales and marketing agency.
The finished development will comprise 16 residences — 14 condominiums and two townhomes — including one-, two-, and three-bedroom units with floor plans ranging from roughly 840 to more than 4,400 square feet, per Florida YIMBY. Prices run from $1.5 million to more than $8 million. Construction activity began in 2025, with a formal groundbreaking in early 2026, and the project is now roughly 25 percent complete with vertical construction underway, Florida YIMBY reports; completion is anticipated in 2027.
Years of Litigation Delayed the Project
The path to this point was anything but smooth. The project faced litigation with former co-investor PSB Indian Creek, whose lawsuit was dismissed in 2022 after a New York State Supreme Court judge ruled the plaintiff had breached operating agreements by failing to make required capital contributions, according to the South Florida Business Journal. The dismissal allowed JMH to move forward with the project.
The property was originally approved by the Miami Beach Historic Preservation Board in May 2015 as a 35,000-square-foot, 15-unit luxury development, with early architectural plans calling for individual plunge pools and Morris Lapidus-inspired curved balconies, per a 2015 report from The Real Deal. The design has since evolved into its current 16-residence configuration. Thornton Construction Company was designated general contractor responsible for building the project, according to Florida YIMBY's 2023 reporting.
Reviving a Hidden Art Deco Structure
One of the project's more distinctive elements involves preserving — rather than demolishing — a piece of Miami Beach's architectural past. The development plan calls for restoring and physically relocating an on-site 1930s Art Deco building, which had been hidden from public view for nearly 60 years, to create two historic townhomes, according to the South Florida Business Journal.
Urban Robot designed 29 Indian Creek's interiors and landscape architecture, according to Florida YIMBY. The finished buildings are described as contemporary architecture inspired by Miami Beach's Art Deco heritage, with terraces featuring Art Deco-inspired railings and wraparound balconies on corner units. The project also includes a parking garage.
Interiors, Amenities and a Beach Club Perk
Inside, kitchens will include custom bone-white lacquered millwork, glass upper cabinetry, stone islands, and integrated Miele appliances with built-in wine coolers, while bathrooms will feature Hansgrohe fixtures and backlit mirrors, according to Florida YIMBY. Ceiling heights will exceed nine feet, with floor-to-ceiling glazing offering views of Indian Creek and the surrounding neighborhood. Each of the two townhomes will include a private 500-square-foot terrace with a summer kitchen and wet bar.
Building amenities will include a rooftop swimming pool, landscaped lounging areas, daybeds, a summer kitchen, a fire pit, and semi-private seating areas, plus a fitness center, infrared sauna, cold plunge, 24-hour concierge desk, and on-site valet parking. Select owners will also receive membership access to the Beach Club at the Miami Beach EDITION, which provides oceanfront amenities, dining, spa facilities, and other resort services, per Florida YIMBY.
A Broader Wave of South Florida Condo Financing
The $19.5 million loan arrives amid a broader wave of South Florida luxury condo financing in October 2026, which also included a $507 million construction loan secured by Terra and its partners for a 106-unit South Beach tower, according to the Commercial Observer. CBRE arranged the 29 Indian Creek financing, with AJ Bruno and Drew Anderman leading the transaction, per Florida YIMBY. Trinity Southern principal Bill Lozito said the financing confirms market belief in the project's vision and that the focus is now on execution.
