CLIENT NEWS: $310 Million Loan Granted To Build First Two Phases Of Miami River Project

November 5, 2021

The Miami River project has obtained a construction loan and is now moving forward with the first two phases. The financing is to build both a residential high-rise tower, and a river walk that will be open to the public. Foundation construction is already underway at the project site.

The loan totals $310 million, enough to build the first two phases of the project:

  • Phase I – a 54-story, 632-unit mixed-use tower
  • Phases II – a two-building, three-story development with 24,000 square feet of commercial space and a publicly accessible esplanade and river walk along the Miami River connecting Brickell to Jose Marti Park

Madison Realty Capital provided the financing.

According to a press release from Madison, the project’s five phases will eventually include 1,928 multifamily units. Amenities will include boat slips, an outdoor theater, a residents lounge, a business center, a state-of-the-art gym, a pool, and a café.

The residential unit count appears to have been increased from the 1,678 previously listed in documents submitted as part of a utilities agreement for the project.

The project was also planned to include 330 hotel rooms, 196,882-square-feet of retail space, and 98,040-square-feet of office space, the utilities deal showed.

Chetrit Group is the developer. Kobi Karp is the architect.

Published November 4, 2021 on

Share it on

Ready to take that next step?

Contact Us

Our Firm Awards

© 2024 Bercow Radell Fernandez Larkin + Tapanes