Miami-based real estate investment firm The TREO Group has secured a $33-million construction loan for Regatta Harbour, a mixed-use waterfront development in Miami’s Coconut Grove.

Situated on more than 9.5 acres, the project include more than 100,000 sq. ft. of retail, services and restaurant space.

Historic airplane hangars, used in the early 1900’s as the first continental Naval air station and later as Pan Am Airways’ base of seaplane operations, will be preserved and renovated as an homage to the area’s culture and history, creating approximately 40,000 sq. ft. of unique setting for a gourmet food hall, specialty market, fitness or entertainment concept, according to the developer.

Regatta Harbour will include marina services with dry storage slips for more than 400 vessels, an upgraded and relocated fueling station, and 700 feet of transient floating docks.

Additionally, in partnership with the City of Miami and Miami Parking Authority, Regatta Harbour will offer an on-site parking garage.

Regatta Harbour is designed by Arquitectonica. The project will be developed in multiple phases starting with the new dry-storage marina being completed in November, the retail area in the summer of 2019 and the waterfront restaurants in 2020.