Terra and partner AB Asset Management broke ground on The Well Coconut Grove, a wellness-focused mixed-use residential development.

TYKO Capital provided a $410 million construction loan for the project, which will offer health-centric amenities like hot and cold plunges, a pickleball court, a tea garden and conservatory and access to personalized wellness services, bi-annual health coaching sessions and curated health events.

Over half of the building’s units have pre-sold. Prices for the one- to four-bedroom residences start at $1.5 million.

“This construction financing and groundbreaking marks significant milestones for both Terra and The Well as we expand our wellness-focused residential and hospitality footprint in one of Miami’s most vibrant neighborhoods,” said David Martin, CEO of Terra. “The strength of this financing underscores lender confidence in our vision for creating spaces that prioritize holistic living and community well-being.”