A major mixed-use project, Riverside Wharf, is set to start this year in downtown Miami and open in 2025.
Everything is on track and moving forward since the project launched in late 2021, the developer said in an email to Miami Today.
In December, Miami developer Alex Mantecon of MV Real Estate Holdings (MVREH), together with hospitality sponsor Driftwood Capital, announced the Riverside Wharf, a hospitality-focused entertainment complex along the historic Miami river.
The ambitious development is a public-private partnership involving the City of Miami.
MVREH originally planned to announce this project in May 2020 and decided to push that deadline due to the state of the hospitality and entertainment industries due to Covid-19.
“As with many other developers and business owners in our industry, we decided in the spring of 2020 to push back Riverside Wharf’s initial announcement schedule, which was originally scheduled for May 2020,” Mr. Mantecon said in the statement. ‘E-mail.
“Since we officially launched the project, there was a provision in our lease that needed to be updated, which the city commission approved last month. We are full steam ahead and on track for the planned delivery of Riverside Wharf in 2025, as we announced in December.
“The City of Miami has been a wonderful partner throughout the process, and we couldn’t be more excited to bring this project to the residents and voters of Miami who helped make it happen,” he said. declared.
The site for the future Riverside Wharf is owned by the city and has been leased to Riverside Wharf LLC. The city charter requires tenants to obtain a building permit within four years of the effective date of the lease.
Riverside Wharf LLC’s lease began on May 16, 2017, and as a result, the four-year deadline for obtaining the permit ended in May 2021 – seven months before the project was officially launched – and had to be extended.
In January, the city commission extended the deadline for obtaining the permit.
Riverside Wharf will be a 200,000 square foot twin-tower development anchored by a 165-room Dream Miami luxury hotel.
The resort is to feature the rebirth and expansion of The Wharf Miami, 16,000 square feet of restaurants, an event venue, a 30,000 square foot nightclub and rooftop day club, and a private marina capable of accommodate megayachts.
The 10-story, $185 million mixed-use development is to rise on the current site of The Wharf Miami, south of the First Street Bridge.
The 1.5-acre assembly is the culmination of the vision set out in the city’s 2016 voter referendum approval for the development of dining establishments along the waterfront.
Mr. Mantecon says the announcement of the project attracted a lot of attention.
“We are extremely excited about the national attention Riverside Wharf received upon launch and are grateful to have the support of our incredible partners in bringing this world-class entertainment district to the heart of the Miami River,” said- he writes.
The developer offered new details about the extensive project, including:
■ There will be two buildings designed to look like one, with entertainment, food and drink in one building and the hotel in the other. The intention behind the separate buildings is to control the noise level for hotel guests. Wharf Miami will occupy the ground floor of both buildings.
■The hotel’s main lobby and some amenities will be on the second floor, and the hotel will have a rooftop swimming pool.
■Above The Wharf, the other building will house restaurants on the second floor. Double-height 28-foot ceilings will make each level feel spacious, with balconies overlooking the water. Above the restaurants there will be a ballroom for events such as weddings and parties, and on top will be a rooftop nightclub and day club.
■ On the ground floor of a fish market in Garcia, fishermen can unload their catch, which will provide fresh seafood to on-site food establishments and the public.