The Miami Riverfront Boom: Faena Residences Miami Takes Center Stage
This past Saturday night, at a star-studded grand opening party for Faena Residences Miami with none other than Alan Faena himself, the spotlight turned to a fresh chapter along the Miami River — a waterfront once overlooked but now poised for transformation.
As Alan Faena said: “We found this amazing place…that we believe has all the potential to become the new place of Miami.”
And in his words: “We love to create, we love to turn around places that are sleeping, forgotten, waiting to be reborn.”
Because “we create magic, and we know how to create it better than anyone else.”
The Miami River is no longer just a commercial waterway or industrial legacy zone — it has become ground zero for some of the region’s most ambitious mixed-use and luxury residential developments. For instance, the project at One Brickell Riverfront — currently comprised of LOFTY Brickell and The Standard Residences Brickell — recently secured a $513 million construction loan, underscoring both market confidence and commitment to the corridor’s potential.
From the Brickell Bridge heading west, new towers, waterfront walks, marinas and public-facing amenities are reshaping the neighborhood. The riverfront’s transformation is real — and Faena’s arrival marks a new milestone.
Faena’s Vision: Rebirth, Culture & Waterfront Living
Faena Residences Miami shifts the narrative: this isn’t just a place to live, but a place to belong, and to experience. With twin towers designed by acclaimed architect Rafael Viñoly, the project will include 434 residences and a 45,000-square-foot cultural center — positioning itself at the intersection of architecture, lifestyle, and waterfront luxury.
By placing a branded-residence experience right on the riverbank, Faena is signaling that the Miami River is no longer a secondary location — it’s becoming a marquee waterfront address. The brand’s reputation for immersive hospitality and design ensures that this isn’t just about square footage; it’s about crafting place and purpose.
What It Means for Buyers & Investors
First-mover advantage: While buyers are still circling the riverfront, developments like Faena’s are opening at a pivotal moment.
Waterfront repositioning: The Miami River’s upgrade means investors are buying into transformation, not just location.
Lifestyle meets unlockable value: With major projects already under construction and public infrastructure improvements underway, the upside trajectory is clear.
Looking Ahead: The River’s Next Decade
By 2030, industry analysts expect the Miami River corridor to rival more established waterfront addresses. With marquee names such as Faena entering the game — alongside large-scale mixed–use projects (such as Miami Riverbridge and Dream Hotel) and improved public realm access — the transformation of this “hidden” riverfront into a sought-after destination is accelerating.
The recent event didn’t just launch a building — it announced a new era for one of Miami’s most undervalued assets.
Want to learn more? Contact us today for details on Faena Residences Miami, pricing, floor plans, and how you can get in early on one of Miami’s fastest-evolving waterfront addresses.
FAENA Residences Miami Unveils New Interior Renderings
FAENA Residences Miami has officially revealed interior photos, showcasing a bold new vision for ultra-luxury living along the Miami River. With sales slated to launch later this summer, starting at $1.3 million, the development introduces a refined blend of architectural innovation, cultural immersion, and world-class amenities designed to reimagine the city’s riverfront landscape. Spearheaded by Fortune International Group and KAR Properties, the project is located at 90 SW 3rd Street and signals a new chapter for the Faena brand—this time on the mainland.
Rising as twin 60-story towers, FAENA Residences Miami will deliver 434 condominiums ranging in size from 700 to 3,300 square feet, with future premium offerings expected to reach $10 million. Residents will also have access to 45,000 square feet of integrated cultural and wellness spaces housed within an iconic sky bridge connecting the two towers—offering performance venues, art installations, and immersive wellness experiences that align with Miami’s broader vision of a walkable, vibrant urban core.
The architecture, designed by the late Rafael Viñoly, reflects his sculptural sensibilities and honors his legacy with a striking presence on the city’s evolving skyline. Interior spaces are curated by Faena Design Studio in collaboration with Bryan O’Sullivan Studio, featuring a rich palette of textures, muted reds, and dramatic accents that channel Faena’s theatrical elegance while creating a sanctuary of sophistication for discerning buyers.
As part of the broader Faena District Miami River, the development will integrate high-end residences with curated public spaces, wellness offerings, and art-centric programming—continuing the legacy established in Miami Beach and reinforcing the brand’s role in shaping Miami’s cultural identity. With over $25 billion of nearby real estate investment and 10,000 residential units in the pipeline, FAENA Residences Miami is poised to anchor a transformative new district on the river.
Sales are expected to open by the end of the month, positioning FAENA Residences as one of the most anticipated luxury launches of the year—and a defining force in Miami’s future.
Faena Residences Miami: A $700 Million Project with a Landmark Design by Rafael Viñoly
A significant new addition to Miami’s skyline is on the horizon with the unveiling of the expected construction timeline for the twin 60-story Faena Residences Miami towers. Construction of these architectural marvels is anticipated to begin in late 2025, with a projected completion timeframe of approximately three years.
Faena Residences Miami represents a $700 million investment, with a total of 440 condos planned across the two towers. This ambitious project not only underscores Miami’s ever-growing luxury real estate market but also highlights the city’s attraction as a hub for high-end residential developments. One of the notable aspects of Faena Residences Miami is that its developers strategically initiated the approval and permitting processes well in advance of the project’s announcement. This foresight is expected to streamline construction and allow for a timely completion by the end of the decade.
Adding to the allure of this development is its architectural pedigree. The late Rafael Viñoly, a visionary architect recognized for his striking and innovative designs, was commissioned for this project. The Faena Residences towers stand as one of his final masterpieces, infusing a legacy of sophistication and style into Miami’s evolving architectural landscape.
With the planned groundbreaking just a year away, Faena Residences Miami promises to be a major focal point, offering future residents both luxury and a piece of architectural history.
Edgardo Defortuna of Fortune International Group and Shahab Karmely of Kar Properties Launch Faena Residences Miami
Miami’s skyline is set to welcome a stunning new addition as developers Edgardo Defortuna of Fortune International Group and Shahab Karmely of KAR Properties collaborate with Alan Faena to create the Faena District along the Miami River. This ambitious project includes the development of Faena Residences, a 440-unit luxury condominium development that promises to transform the area.
Located at 90 Southwest Third Street in Miami, the Faena Residences project will replace the previously planned One River Point. The two-tower development, connected by a striking sky bridge, was designed by the late renowned architect Rafael Viñoly. Construction is slated to begin in early 2026, with sales expected to launch later this year. Units will range in price from $1 million to over $4 million.
Fortune International Group joined KAR Properties as a co-developer in late 2022, bringing new energy to the project. According to Defortuna, the developers aim to be in full swing by Art Basel Miami Beach, one of the world’s premier art events. “We’ll be in full force by the time Art Basel rolls around,” he noted, underscoring the team’s enthusiasm for the development.
The Faena Residences will include an impressive 45,000-square-foot amenity space in the sky bridge, which will be designed and programmed by Faena himself. The space is set to feature a variety of wellness-focused facilities, all aimed at promoting longevity and well-being—a hallmark of Faena’s development ethos.
This project marks the second major South Florida real estate venture for Alan Faena, following the successful completion of the Faena District in Miami Beach, which includes Faena House, Faena Hotel, and Faena Forum. Backed by billionaire Len Blavatnik, the Faena District in Miami Beach has become synonymous with luxury, art, and world-class amenities. The new Faena Residences Miami looks to continue this legacy, offering a private park, wellness facilities, a marina, and public art installations as part of a larger three-block phased development along the river.
In late 2022, Fortune and KAR secured a $38 million loan from Bank OZK, a line of credit aimed at supporting the project’s sales and marketing efforts. The developers are optimistic about the future of the Faena District along the Miami River, confident that it will become a defining part of Miami’s growing luxury real estate market.
Karmely’s original vision for the 60-story towers, first revealed in 2014, included ambitious features like a three-story floating glass sky bridge and a 55th-floor members-only “Sky Club” with high-end amenities such as restaurants, a cigar lounge, and a screening room. Though the final plans have evolved, the Faena Residences Miami remains poised to offer a unique and exclusive living experience.
The Faena Residences Miami is just one of several developments that will reshape the Miami River area. A recent analysis by The Real Deal found that more than a dozen projects are in various stages of development along the river, with plans to add over 10,500 condo and apartment units. Notable among these is Related Group’s Baccarat, a 75-story, 355-unit tower set to rise at 99 Southeast Fifth Street on the south side of the river.
With its prime location, striking design, and emphasis on wellness, the Faena Residences Miami is set to become a landmark in the city’s evolving luxury real estate market.
