Codina Partners Secures $38.8M Loan for Final Phase of Downtown Doral Retail Expansion

Codina Partners has reached a major milestone in the evolution of Downtown Doral with the announcement of a $38.8 million construction loan secured from Ocean Bank. The financing will support the third and final phase of the retail expansion within the 250-acre mixed-use community, further enhancing its reputation as a vibrant destination to live, work, and play.

This final phase will add nearly 25,000 square feet of new retail space along NW 87th Avenue, along with the additional of 932 parking spaces across the expansion of the garages directly behind each new section of the retail center. Construction is scheduled to break ground in Q2 2025, with completion anticipated in 2026.

“Securing this financing brings our vision for Downtown Doral one step closer to completion,” said Ana Marie Codina, CEO of Codina Partners. “It enables us to deliver the final piece of our thoughtfully curated retail center—where residents and visitors can dine, shop, relax, exercise, connect and gather in a dynamic, walkable destination.”

The northern section of this expansion has already been fully leased by UHealth – University of Miami Health System. The 11,243-square-foot space, located at the corner of NW 87th Avenue and NW 53rd Terrace—now designated as UHealth Way—will provide comprehensive eye care from the world-renowned Bascom Palmer Eye Institute, along with specialized physical therapy services including hand therapy and pelvic floor rehabilitation.

On the southern side, located at NW 52nd Street and NW 87th Avenue, the expansion will offer 13,644 square feet of flexible retail space across nine units—seven at street level and two on the second floor. While the north expansion is dedicated to essential health services, the south side will focus on food and beverage, boutique retail, and entertainment concepts, further contributing to Downtown Doral’s unique mix of offerings.

With this final phase, Codina Partners continues to realize its vision of a dynamic, walkable urban center that blends culture, commerce, and community in the heart of Doral.