An expected groundbreaking timeframe has been announced for downtown Miami’s Riverside Wharf project.
Driftwood Capital, which is partnering with MV Real Estate Holdings and Merrimac Ventures, made the announcement.
Groundbreaking for Riverside Wharf is now expected in the latter half of 2024.
The $267m development is expected to be “transformative,” and will feature a Dream Hotel.
The project benefits from being in an Opportunity Zone, and EB-5 capital is being sourced through Driftwood Capital’s affiliate EB-5 Regional Center.
Coral Gables-based Driftwood has three other projects either underway or expected to break ground in 2024, including Element by Westin Melbourne, Element by Westin Mission Valley San Diego, and the Westin Resort & Spa Cocoa Beach.
