Tula Residences Reaches Full Height as North Bay Village's Luxury Waterfront Market Evolves

NORTH BAY VILLAGE, FL — October 13, 2026 — Tula Residences has reached its full structural height in North Bay Village, marking a significant construction milestone for the 21-story waterfront condominium project at 7918 West Drive.

The development will feature 54 luxury residences overlooking Biscayne Bay, with completion currently anticipated in the third quarter of 2027.

Bayshore Grove Capital is overseeing development and construction, while Pacific & Orient Properties serves as the project developer.

The construction milestone follows the securing of a $67 million loan from S3 Capital, providing financial support for the project's continued progress.

A Boutique Approach to Waterfront Living

Tula Residences is designed by M77R, with interiors by Shannon Farrell Design.

The project occupies a waterfront location in North Bay Village, a municipality situated between Miami and Miami Beach along the 79th Street corridor.

Unlike large condominium developments with several hundred homes, Tula's 54-residence configuration reflects a more boutique approach to waterfront housing.

Its positioning emphasizes a limited number of residences within a high-rise building, combining views across Biscayne Bay with access to the wider Miami metropolitan area.

A&R Development serves as the general contractor.

With structural construction now reaching the building's planned height, the project moves toward the subsequent stages of exterior completion, interior work and final building systems.

The topping-out milestone does not mark the completion of the project or indicate that residences are ready for occupancy.

A $67 Million Construction Financing Milestone

The project's progression follows a $67 million construction financing package provided by S3 Capital.

Financing is a critical component of luxury condominium development, particularly for projects where construction schedules, sales activity and financing costs must remain aligned over several years.

The loan provides a foundation for continuing construction as the development team works toward its expected 2027 delivery.

The development has also expanded its sales and marketing representation.

Compass Development Marketing Group joined Brown Harris Stevens as a co-listing brokerage, creating an additional channel for marketing the property and reaching prospective buyers.

The arrangement brings together two established residential brokerage platforms as construction advances.

Why North Bay Village Is Attracting Development Attention

North Bay Village occupies an unusually strategic position within Miami-Dade County.

Located on islands along the Kennedy Causeway, it connects the mainland with Miami Beach while offering direct waterfront access and views of Biscayne Bay.

Its relatively limited land area creates a different development environment from larger markets such as Downtown Miami or Brickell.

Waterfront parcels capable of supporting new residential construction represent opportunities to introduce modern housing into a community with a substantial inventory of older buildings.

That geography helps explain the appeal of comparatively small luxury developments like Tula Residences.

Rather than competing primarily on scale, boutique projects can position themselves through location, architectural design and a more limited residential offering.

The wider transformation of the 79th Street corridor also provides context for investment in the area.

North Bay Village is increasingly part of the broader conversation about Miami's next generation of waterfront residential neighborhoods.

A Milestone for the Development Team

For Bayshore Grove Capital, Pacific & Orient Properties and their construction partners, reaching the top of the structure represents measurable progress toward bringing the project to market.

It also creates a more tangible representation of the building's scale and relationship to the surrounding waterfront.

Prospective buyers can increasingly assess a project's physical presence as it advances beyond architectural renderings and early construction.

That visibility can be valuable during a condominium sales campaign, particularly in a competitive luxury market.

Looking Ahead to 2027

With its structure topped out, Tula Residences is expected to continue toward completion in the third quarter of 2027.

Remaining work includes the construction and finishing activities necessary before occupancy can begin.

The project offers another example of capital and development expertise moving into established waterfront communities outside Miami's largest condominium districts.

For North Bay Village, Tula's progress underscores the continued interest in smaller, design-focused residential projects that take advantage of the municipality's waterfront geography and central location.