Society Wynwood Secures $178 Million Refinancing for the Mixed-Use Development
National development powerhouse Property Markets Group (PMG) and Canadian private equity firm Greybrook Realty Partners (Greybrook) have successfully secured $178 million in refinancing for Society Wynwood, a prominent mixed-use development in Miami’s dynamic Wynwood Arts District. This 10-story building, designed by MKDA and located at 176 Northwest 25th Street, is a testament to the innovative vision of PMG and Greybrook. The financing was arranged by Eastdil Secured, with funds provided by Ares Management and Monarch Alternative Capital. Randy Barcelo from Stearns Weaver Miller represented PMG in the transaction.
Since opening its doors to residents in March, Society Wynwood has witnessed rapid leasing success, underscoring its appeal in one of Miami’s most sought-after neighborhoods. The building boasts 318 rental apartments alongside 50,210 square feet of retail space, which spans the entire block on the ground floor. Residents can choose from traditional apartments with efficient layouts or opt for the innovative “Rent-by-Bedroom” co-living option, catering to a variety of living preferences.
One of Society Wynwood’s standout features is its extensive amenities, designed to foster community and elevate the living experience. Over 82,000 square feet of community-focused spaces include a rooftop pool deck with an outdoor gym, theater lawn, hot tub, grilling areas, and a coworking hub equipped with private conference rooms. A modern gym, yoga terrace lawn, smart package lockers, and app-based keys further enhance the convenience and lifestyle of residents.
“It’s been exciting to witness the building’s positive reception since opening, and we’re pleased to project that the property will be stabilized by spring 2025,” said Andrew Warman, Managing Director of Capital Markets at PMG. “We’re thankful for the support of our partners and lenders in securing this refinancing, which will enable us to repay the existing construction loan and continue a successful lease-up.”
The completed building not only offers luxurious amenities but also fosters a strong sense of community. According to Sami Mouaket, Director of U.S. Investments & Developments at Greybrook, “Society Wynwood stands out not only for its attainably priced offering but also for its elevated lifestyle with condo-standard finishes across both co-living and traditional suites. We have seen tenants relocating from within the neighborhood, across the state, country, and even internationally, reflecting the social diversity and continued appeal of Wynwood and Miami more broadly.”
Society Wynwood’s ground floor courtyard is a culinary hub, featuring dining options like Dave’s Hot Chicken, Bodega Taqueria, Chama de Fogo’s Brazilian steakhouse, Nacho Daddy from Las Vegas, Starbucks, Voodoo Donuts, and I Scream Gelato. This vibrant array of offerings contributes to the building’s appeal, drawing both locals and visitors to experience the best of Wynwood’s lifestyle.
As the latest addition to PMG’s national portfolio of Society Living apartment communities, Society Wynwood embodies the brand’s mission to provide reasonably priced rental housing in prime locations while fostering a sense of community. PMG’s Society Living brand, which encourages residents to “Choose Happiness,” is expanding rapidly, with over 8,500 units planned across cities like Orlando, Atlanta, Brooklyn, Denver, Fort Lauderdale, and Nashville. Each property is designed to inspire residents and support personal growth, making Society Wynwood a key player in Miami’s continued evolution as a vibrant, diverse, and appealing city.
Society Wynwood is more than just a place to live; it’s a community where modern amenities, diverse retail offerings, and innovative living solutions converge. With its recent refinancing, Society Wynwood is set to continue its trajectory as a premier destination in Miami’s Wynwood Arts District, attracting residents from near and far to experience the best of urban living.
Conceptual Plans Unveiled for a New Brickell Supertall Tower at 1201 Brickell Bay Drive in Miami
Miami’s skyline is on the cusp of a dramatic transformation with the unveiling of conceptual plans for a new supertall skyscraper at 1201 Brickell Bay Drive. This ambitious project promises to redefine the city’s architectural landscape and elevate Brickell to new heights, both literally and figuratively.
The new tower is proposed to soar 1,032 feet above sea level, making it one of the tallest structures in the region. Standing at 54 stories, the 1201 Brickell Bay Drive project is designed to be a cornerstone of Miami’s urban future.
The first phase of the development, known as the 1201 tower, will encompass a variety of high-end uses:
Office Space: The building will offer a staggering 1,293,373 square feet of office area, catering to the demands of modern businesses and setting a new standard for workspace luxury.
Hotel Accommodations: With 212 hotel rooms, the tower will include a suite of amenities such as a health spa, fitness club, ballroom, and conference and event spaces, aiming to attract both business travelers and tourists.
Parking Facilities: Approximately 50 below-grade executive parking spaces will be provided on-site, with additional parking available across the street to accommodate the needs of tenants and visitors.
The design of this landmark project is in the capable hands of renowned architecture firms. Foster + Partners is listed as the design architect, bringing their global reputation for innovative and sustainable design to Miami. AAI Architects will serve as the architect of record, ensuring that the design vision is faithfully executed. The landscape architecture will be overseen by Field Operations, known for their work on urban spaces that seamlessly blend with their surroundings.
The 1201 Brickell Bay Drive tower is just the beginning. Subsequent phases of the development will extend across the street to 1221 Brickell Avenue and 1250-1260 Brickell Bay Drive. These phases are expected to incorporate a mix of office space, food and beverage establishments, retail and personal services, residential units, and additional parking facilities. This comprehensive approach will create a dynamic and multi-functional urban environment.
The project is reportedly owned by Citadel, a global financial institution known for its significant investments in real estate. Their involvement underscores the scale and ambition of the project, signaling a major investment in Miami’s future.
The unveiling of the 1201 Brickell Bay Drive project marks a significant milestone in Miami’s architectural evolution. As the city continues to grow and attract global attention, this new supertall will not only add to the city’s impressive skyline but also enhance its status as a hub of commerce, luxury, and innovation.
Stay tuned as more details emerge and the project progresses from conceptual plans to a tangible reality. Miami is set to experience a new era of skyscraper sophistication, and 1201 Brickell Bay Drive will undoubtedly be at the forefront of this exciting transformation.
Villa Edgewater Miami: A New Architectural Marvel in Edgewater
Miami’s skyline is set to receive an extraordinary addition with the upcoming Villa Miami condo tower in Edgewater. On August 2nd, the Miami Building Department officially issued a site work permit for this highly anticipated project, signaling the beginning of what promises to be a landmark development. On the same day, a revision to the permit was also filed, ensuring that every detail aligns with the grand vision of the developers.
Moss & Associates, a well-known contractor in the industry, has been entrusted with bringing this ambitious project to life. Alongside the site work permit, applications for a master construction permit and a seawall permit are already in the pipeline, reflecting the comprehensive planning and meticulous approach behind Villa Miami.
The planned 56-story tower will rise to an impressive 650 feet, offering breathtaking views and a range of luxurious amenities. The developers have described it as an “architectural marvel,” and with good reason. Villa Miami will feature 72 exclusive condominiums, each designed to the highest standards of luxury and sophistication.
One of the standout features of the building will be its rooftop helipad, providing an unparalleled convenience for its residents. In addition, a restaurant by the renowned Major Food Group will further enhance the tower’s appeal, making it not just a residence but a destination.
The design of Villa Miami will set it apart from other developments in the area. The building’s distinctive exoskeletal design will be clad in a striking copper color, creating a visually stunning contrast against the Miami skyline. This bold architectural choice reflects the innovative spirit of the developers, who are pushing the boundaries of design and construction.
Villa Miami is being developed through a collaboration between Major Food Group, David Martin’s Terra, and One Thousand Group. This partnership brings together a wealth of experience and expertise, ensuring that the project will be executed with precision and creativity.
As construction on Villa Miami begins, the anticipation is palpable. This new addition to Edgewater is more than just a building; it’s a statement of architectural excellence and luxury living. With its unique design, top-tier amenities, and visionary development team, Villa Miami is set to redefine the standard for luxury condos in Miami. Stay tuned as this remarkable project takes shape, promising to become one of the city’s most iconic structures.
New Edgewater Tower Receives FAA Approval for 637-Foot Height
Edgewater, one of Miami’s most rapidly developing neighborhoods, is set to welcome a striking new addition to its skyline. The Federal Aviation Administration (FAA) has officially given the green light for the height of a new tower planned for the area. According to a determination letter dated August 19th, the FAA has approved the tower to rise to an impressive 637 feet above ground level, or 641 feet above sea level.
The letter was sent to Meridian TC Real Estate Group LLC, the company responsible for overseeing the project. The approved height paves the way for the construction of Edge House Miami, a luxury condominium building that will also allow for short-term rentals—a feature that is increasingly popular in the Miami real estate market.
Edge House Miami is set to be a 57-story architectural marvel, with a design crafted by the renowned architect Kobi Karp. Known for his innovative and contemporary designs, is expected to bring a modern aesthetic to Edge House Miami, further enhancing Edgewater’s reputation as a hub for luxury living.
The developer behind this ambitious project is Peru’s Grupo T&C, a company with a growing portfolio of high-end developments. Their decision to invest in Edgewater reflects the area’s burgeoning appeal, particularly among those seeking upscale residential options with flexible rental opportunities.
As Edge House Miami begins to take shape, it promises to be a significant landmark in Edgewater, contributing to the neighborhood’s evolving identity as one of Miami’s premier residential districts. The project’s approval by the FAA marks a crucial step forward, setting the stage for what will undoubtedly be one of Edgewater’s most anticipated developments.
Brickell’s Dolce&Gabbana Tower to Fund Transportation Upgrades
In a significant development for Miami’s Brickell neighborhood, the developer behind the highly anticipated 90-story Dolce&Gabbana supertall condo hotel has reached an agreement to fund crucial transit and transportation upgrades in the area. This agreement is a pivotal step in the ongoing review process as the project progresses under Miami-Dade’s Rapid Transit zoning plan.
The Dolce&Gabbana tower, a striking addition to the Miami skyline, is currently under scrutiny by Miami-Dade’s review process, which falls under the Rapid Transit zoning plan. This zoning plan is designed to ensure that new developments contribute to the public good, particularly in areas like transportation and transit infrastructure. The approval of developments within this zone is often contingent upon providing significant public benefits, which in this case, includes a substantial financial commitment from the developers.
On August 13th, a Declaration of Restrictions was officially recorded with Miami-Dade County, outlining the public benefits that will accompany the approval of the Dolce&Gabbana tower. One of the key components of this declaration is a commitment to a $1.5 million contribution from the developer. This one-time payment will be allocated to a series of much-needed upgrades and improvements in the Brickell area.
Traffic Signal Installation: A new traffic signal will be installed at the intersection of South Miami Avenue and SW 10 Street. This upgrade is expected to enhance safety and traffic flow in one of Brickell’s busiest areas.
Metromover Station Enhancements: The Tenth Street Metromover Station and its surrounding vicinity will receive repairs and upgrades. These improvements will include updates to mechanical systems, restrooms, painting, signage, accessibility features, streetscape improvements, and wayfinding support.
Additional Commitments: The $1.5 million contribution will be in addition to any permitting or impact fees that are already due to the County as part of the development process. However, if the County Director determines that any portion of the contribution is duplicative of impact fees, the developer may be eligible for an offset equivalent to the value of those fees.
The agreement was signed by Michael Stern, representing the developing entity. This commitment to improving the infrastructure around the Dolce&Gabbana tower underscores the developer’s dedication to enhancing the community and addressing the needs of Brickell’s growing population.
As the Dolce&Gabbana supertall condo hotel moves closer to realization, this agreement marks a significant milestone in ensuring that the development not only adds luxury and architectural grandeur to Miami’s skyline but also contributes meaningfully to the city’s infrastructure. The upcoming transit and transportation upgrades funded by the developer will play a vital role in supporting the continued growth and vibrancy of the Brickell neighborhood.
Okan Tower: A New Construction Icon in Downtown Miami’s Skyline
Construction continues to advance on Okan Tower, a 70-story mixed-use marvel taking shape at 555 North Miami Avenue in the heart of Downtown Miami. Designed by the esteemed Behar Font & Partners and developed by Okan Group, this 902-foot-tall, 914,124-square-foot skyscraper is set to redefine luxury living and working spaces in the city. Once completed, the tower will feature 399 luxurious residences, a 316-key hotel, 64,000 square feet of Class A office space, and a host of indoor and outdoor amenities, making it a true gem in Miami’s urban landscape.
The tower is being constructed on a 0.86-acre corner plot, strategically bordered by North Miami Avenue to the west and Northeast 6th Street to the north, ensuring it will be a standout feature in the downtown area. Witkin Hults + Partners, the landscape architect, is meticulously planning the surrounding green spaces to complement the building’s impressive architecture.
Jacob Companies, the project’s general contractor, has been actively sharing updates on the tower’s construction progress. Last week, they posted a series of photos on Instagram that provided a behind-the-scenes look at the ongoing activities at the site. The images captured various stages of the building process, from the installation of rebar to the formation of concrete slabs. The pouring of columns in the site’s northeast corner is visible, alongside significant progress on the south wall.
The construction team, including Okan Construction, Moore Group, Efco Forming, and US American Concrete, is making remarkable strides in the tower’s structural phase. As the year progresses, we can expect to see Okan Tower start to make a substantial impact on the Miami skyline.
Okan Tower’s residential offerings are divided between 163 condominium units on floors 51 through 70, tailored for private residences, and 236 condo-hotel units on floors 36 to 50. These condo-hotel units are designed for short-term rentals, offering all the services and amenities of a luxury hotel. The residential units vary in size, with studios starting at 447 square feet and expansive three-bedroom residences reaching up to 2,183 square feet, catering to a wide range of lifestyle needs.
The tower’s design and amenities are poised to attract those seeking an unparalleled living experience in Miami, combining luxury, convenience, and modern design in a prime downtown location.
As construction progresses, anticipation continues to build for the completion of Okan Tower. The project is expected to be finished by 2027, at which point it will stand as a new icon in Miami’s skyline, embodying the city’s vibrant spirit and relentless growth.
Ocean House: A New Benchmark in Ultra-Luxury Living by Multiplan REAM
Multiplan Real Estate Asset Management (REAM), the visionary developer behind the renowned 57 Ocean, has announced the official launch of sales for Ocean House, a meticulously crafted boutique condominium development in the prestigious Surfside enclave. With just 25 ultra-luxurious residences, Ocean House promises an unrivaled living experience, blending the exclusivity and grandeur of a private high-end residence with the conveniences of modern condominium living. Unit prices starting at $5 million.
Located at 9317 Collins Avenue, Ocean House is set to epitomize the Surfside lifestyle with residences ranging from two to five bedrooms. Renowned architecture firm Arquitectonica, along with its landscape division ArquitectonicaGEO, is leading the architectural and landscape design. The vision for Ocean House includes expansive east, south, and west views, meticulously crafted by the celebrated architect Bernardo Fort-Brescia. The interiors, curated by designer Carla Guilhem—known for her work in both yachts and homes—offer sophisticated spaces that seamlessly integrate with the oceanfront setting.
What sets Ocean House apart is its dedication to privacy and tranquility, offering an extensive range of wellness-focused amenities across three thoughtfully designed floors. Residents will find spaces beautifully infused with beach-inspired hues, wooden accents, and natural stone flooring. The development features a rejuvenating spa complete with a treatment room, salon, steam room, and an expansive rooftop pool deck. Additionally, the vitality pool, state-of-the-art fitness center, reflecting ponds, floating cabanas, and intimate lounges, all set within a lush tropical landscape, further enhance the sense of well-being and exclusivity.
Marcelo Kingston, Managing Partner at Multiplan REAM, emphasizes this unique approach: “Unlike the impersonal high-rise developments prevalent in South Florida, Ocean House offers an intimate, exclusive experience. It is a harmonious blend of privacy, architectural brilliance, and unparalleled amenities, designed with the sophisticated buyer in mind. With breathtaking waterfront views, lavish interiors, and a limited collection of residences, Ocean House is a truly exceptional offering within Surfside’s coveted coastline and Miami’s burgeoning luxury real estate market.”
The residences at Ocean House, ranging from 2,093 to 6,279 square feet, boast expansive floor-to-ceiling windows, grand living rooms with natural stone flooring, and open-concept kitchens centered around custom-designed Silestone islands with waterfall edges. Each home is complemented by private terraces offering breathtaking views of the Atlantic Ocean. The interiors feature elegant finishes, including custom European cabinetry, Gaggenau kitchen appliances, and spa-like bathrooms with double-sink vanities, glass-enclosed rainfall showers, and freestanding tubs that evoke a serene, retreat-like atmosphere.
Phil Gutman underscores the project’s unique market position: “Surfside has become the most sought-after market to live in South Florida, the scarcity of either available land or new projects in this area makes Ocean House a true gem in the strong Miami condo luxury market. Our project stands out in this community as a true luxury, boutique development offering buyers a once-in-a-lifetime opportunity to own a villa in the sky on the ocean.”
Multiplan REAM has already commenced the demolition of the old Regent Palace Condominium to clear the site in anticipation of groundbreaking, slated for the first quarter of 2025. Ocean House is expected to be delivered in 2027, bringing with it a new standard in luxury living.
“Our go-to-market strategy will be highly selective and focused. By self-financing projects, Multiplan gains the flexibility to initiate construction immediately while patiently pursuing high-caliber buyers who share our vision for Ocean House as Miami’s most exclusive beachfront condo community,” concludes Kingston.
With its visionary design, unparalleled amenities, and prime location, Ocean House is set to redefine luxury living in Miami, offering a rare opportunity for discerning buyers to own a piece of Surfside’s coveted coastline.
Loews Corporation Secures $305 Million Refinancing for Miami Beach Resort
Loews Corporation is poised to receive a $305 million refinancing package for its premier oceanfront Miami Beach resort. The financing, which backs the 5-acre, 790-key hotel located at 1601 Collins Avenue, is being originated by Wells Fargo, National Association, and JPMorgan Chase Bank, as reported by Fitch Ratings. The transaction is expected to close on September 10th.
The 10-year, fixed-rate, interest-only loan will serve to refinance the existing $300 million debt and cover approximately $5 million in closing costs. Despite multiple inquiries, a spokesperson for Loews has not provided any comments on the matter.
Loews, which is led by the billionaire Tisch family, has a long-standing history with the property, having acquired it in 1998. The resort encompasses two towers, including the historic St. Moritz building and a 17-story tower. The property boasts approximately 46,000 square feet of meeting space, six food and beverage outlets, retail spaces, a pool, and cabanas. Among its dining options is the renowned Rao’s restaurant, which has become a key attraction for guests.
Fitch Ratings has valued the property at just over $400 million, translating to about $507,000 per key. With a loan-to-value ratio of 74 percent, the new financing will strengthen the resort’s financial foundation while ensuring its continued operation as a luxury destination in Miami Beach.
This refinancing follows a similar move earlier this month by BDT & MSD, a merchant bank created through the merger of Trott’s BDT & Company and MSD Partners, the private investment arm of Dell Technologies founder Michael Dell. The firm secured a $1 billion refinancing for the Boca Raton Resort & Club, a 1,047-key luxury hotel located at 501 East Camino Real in Boca Raton. Citi Real Estate Funding provided the two-year, floating-rate interest-only loan for that transaction.
The Miami Beach resort refinancing marks yet another significant investment in South Florida’s luxury hotel market, reflecting the region’s robust real estate and hospitality sectors. As Loews continues to enhance its premier properties, the future looks bright for this iconic oceanfront destination.
A Glimpse Into Miami’s Newest Architectural Marvel: The Residences at Mandarin Oriental, Miami
Miami’s skyline is about to welcome a new icon as The Residences at Mandarin Oriental, Miami, taking shape on Brickell Key. Designed by the renowned architectural firm Kohn Pedersen Fox and developed by Swire Properties, this 66-story tower is set to redefine luxury living in one of Miami’s most prestigious neighborhoods. Recently, a new rendering has been unveiled, offering a breathtaking perspective that highlights the building’s stunning architectural features and its seamless integration with the surrounding landscape.
The Residences at Mandarin Oriental, Miami, is more than just a building—they are a work of art. The tower’s design features undulating slabs on each floor, creating a dynamic and fluid appearance that evokes a sense of movement and flow. These undulating floors, paired with expansive glass terraces, give the building a distinctive profile that stands out in the Miami skyline. The glass railings extend seamlessly along the edges of the terraces, while the smooth, meticulously finished soffits below blend harmoniously with the curved design of the slabs. This combination of elements results in a sleek and transparent aesthetic that is as functional as it is visually striking.
The entrance to The Residences at Mandarin Oriental, Miami, is nothing short of grand. A prominent canopy with a textured underside greets residents and visitors alike, adding a touch of artistry and elegance. Supported by robust yet refined vertical columns, the canopy integrates seamlessly into the building’s overall design while enhancing its monumental presence. The ground level reveals an interior space adorned with stone finishes visible through the glass façade, adding an element of refinement and durability to the entry experience.
Rising 66 stories above Brickell Key, the tower’s subtly convex profile accentuates its height and elegance, creating a slender, towering silhouette that is visually striking from the ground level. The landscaping around the base of the tower is lush and organic, softening the transition between the natural environment and the built structure. This thoughtful integration of nature and architecture reinforces the building’s connection to its surroundings, making it a harmonious addition to the Miami skyline.
The Residences at Mandarin Oriental, Miami, have already made significant strides in both sales and construction. In just 30 days, Swire Properties USA and Fortune International Group successfully converted sale contracts valued at $150 million with close to $1 billion inn reservations—a testament to the strong demand for these luxury residences, even in what is traditionally a slow season for Miami real estate. The available units include a variety of 2, 3, 4, and 5-bedroom homes, catering to a diverse range of buyers. With the soft opening of the sales gallery, interested buyers have the opportunity to convert their purchases to contracts immediately, further solidifying the project’s momentum.
The Residences at Mandarin Oriental, Miami, will feature 228 residences, each with interiors designed by acclaimed Parisian designer Tristan Auer. These homes will offer panoramic vistas of Biscayne Bay and the surrounding cityscape, providing residents with breathtaking views that are matched only by the building’s luxurious amenities. True to the Mandarin Oriental brand, residents will enjoy legendary service and a wide array of world-class amenities, ensuring a lifestyle of unparalleled comfort and convenience.
Significant progress is also being made behind the scenes. An application for a new construction permit was filed in December 2023 and is currently under review by Pacifica Engineering. The permit outlines a structure that will yield 1,351,367 square feet of space, reach a height of 826 feet, and have an estimated total cost of $237 million. Moss & Associates LLC is listed as the general contractor, ensuring that this ambitious project is in experienced hands.
Although the project is being marketed as 500 Brickell Key Drive, the permit lists 750 Claughton Island Drive as the official address. This location encompasses the southernmost tip of the island, a 2.42-acre site where Brickell Key Park is currently situated. Additionally, another permit is under review for the new Mandarin Oriental Hotel at 500 Brickell Key Drive, which will rise 339 feet across 27 stories and include a variety of lodging units, condo-hotel units, and multi-family units, along with a multi-story parking garage.
As construction progresses and sales continue to surge, The Residences at Mandarin Oriental, Miami, are poised to become one of the city’s most coveted addresses. With its striking design, luxurious interiors, and world-class amenities, this tower represents a new chapter in Miami’s ever-evolving architectural narrative—a chapter that promises to set new standards for luxury living in the Magic City.
Unlocking Miami’s Last Frontier: The Bold Vision for Watson Island
Building in metropolitan Miami has long been a balancing act between nature and urban expansion. Hemmed in by the lush Everglades to the west and south, and the Atlantic Ocean to the east, Miami’s land has always been a precious commodity. Now, developers have set their sights on one of the city’s last undeveloped frontiers: Watson Island.
Watson Island, a mostly undeveloped, city-owned stretch of land sitting in Biscayne Bay, has long eluded developers. Despite its prime location just east of downtown Miami, accessible only via the MacArthur Causeway, the island has remained mostly barren. But now, Merrimac Ventures and BH3 Management are proposing a transformative mixed-use project that could finally unlock the island’s potential.
“This is the most underutilized, rare opportunity that exists in all of Miami,” says Greg Freedman, co-CEO of BH3 Management. His words resonate with the urgency and excitement that the proposal has sparked across Miami. In November, the city’s voters will decide whether to move forward with this ambitious plan—a plan that could put an end to decades of indecision and missed opportunities.
Watson Island has a rich history that dates back to Miami’s early days. It’s one of the man-made islands in Biscayne Bay, created through extensive dredging projects in the early 20th century. These projects, which drained and filled swampy lands, fueled Miami’s real estate boom and led to the construction of thousands of homes, roads, and even a railway. The island was deeded to the city in 1919 and was fully reclaimed by 1926, becoming a critical link between Miami and Miami Beach.
Over the years, other islands in Biscayne Bay have been transformed into luxury residential areas or key infrastructure projects. Brickell Key, Star Island, and PortMiami all emerged from similar origins, but Watson Island remained largely untouched, save for the Miami Children’s Museum and Jungle Island, which occupy just a fraction of its 86 acres.
The proposed development by Merrimac Ventures and BH3 Management envisions Watson Island as Miami’s newest neighborhood. The plan includes two hotels, 97,430 square feet of retail space, 100,350 square feet of boutique offices, and 105 condominium units. Additionally, the project would see upgrades to the seawall and boardwalk, infrastructure improvements, and the creation of a public park and promenade. The developers aim to create a vibrant, mixed-use community that will finally breathe life into the long-dormant island.
If the voters approve the proposal, the developers will enter a 99-year ground lease with the city and contribute $9 million toward affordable housing in Miami. The project also includes a commitment to hiring local workers, further embedding the development into the fabric of the community.
