In Brickell, $1B Miami River Project To Announce Hotel, Launch Condo Sales

Chetrit Group’s $1 billion mixed-use project on the Miami River in Brickell is moving forward, according to The Real Deal:

  • A “very cool” hotel brand will soon be announced
  • Condo sales will launch within months, handled by Fortune International
  • The first tower will include 200 hotel rooms and 328 condos
  • Under Miami 21, Chetrit is paying $21 million for an additional 1.2 million square feet of development rights ($17.82 psf): $14 million to affordable housing, $7 million to surrounding infrastructure
  • The project will eventually have five phases with 1,678 residences, 330 hotel rooms, 266,000 square feet of retail and office space, and 2,000 parking spaces
  • A river walk lined with shops and restaurants is “going to be awesome,” according to the developer’s zoning attorney