Doral’s Oasis Lands $58 Million Bet On Office Park Makeover

A long-anticipated Live Local Act project in Doral has reached a major financial milestone.

The Apollo Companies’ Oasis at Doral has secured a $58 million construction loan, reported March 27, 2026, bringing the planned transformation of the Doral Costa office park closer to reality.

The financing marks a critical step forward, as lenders typically require substantial capital commitments before vertical construction begins. The project will still designate 40% of its residential units as workforce housing under Florida’s Live Local Act.

According to the South Florida Business Journal, the loan will fund the initial phase of construction for the mixed-use redevelopment—helping the project overcome a common hurdle that often delays similar developments from moving beyond planning stages. Public records continue to identify affiliates of The Apollo Companies as the project sponsor.

Project Scope And Design

Oasis at Doral is planned across roughly 18 acres at 4090 N.W. 97th Ave., along with nearby parcels at 9800 and 9850 N.W. 41st St. The development will include eight buildings featuring more than 600 apartments and approximately 150,000 square feet of commercial space.

About 40% of the units will be reserved for workforce housing. While two existing office buildings will remain, other structures on the site are slated for demolition to make way for new construction. Arquitectonica is leading the design, and permit filings are already underway as the project advances through approvals.

Local Pushback And Compromise

The project has faced scrutiny from the City of Doral. Officials previously enacted a temporary moratorium on Live Local Act applications but later reached a settlement with the developer. That agreement reduced building heights and allowed the project to move forward. A 4–1 city council vote in October 2023 ultimately cleared the plan, following negotiations that shaped both its design and timeline.

Why The Financing Matters

Securing construction financing is often the turning point for Live Local Act developments, and Oasis at Doral now joins a growing number of South Florida projects benefiting from state incentives.

A similar office-to-residential conversion nearby recently landed a $92.3 million loan, highlighting increasing lender confidence in these projects. At the same time, the Live Local Act continues to drive new proposals statewide while fueling debate over local control and development standards.

While final permits and lender conditions still need to be met before construction begins, the $58 million loan significantly reduces financial uncertainty. The next key indicators of progress will be building permits and contractor selections as the project moves from planning into execution.

Source: hoodline