$1b, 4msf mixed-use project to transform Miami river waterfront

The Chetrit Group, a privately held New York City-based developer, plans to develop The River District, a 4 million-square-foot, mixed-use destination in Miami. The project will span more than six acres along the Miami River waterfront. Total development costs will exceed $1 billion, according to Bloomberg.

Situated just south of the Miami River, The River District will include 1,600 residences, class A office space, 30,000 square feet of curated retail, a boat marina that can accommodate 60-foot vessels, 2,000 covered parking spots, as well as restaurants and nightlife venues.

The first building to come to market at The River District will be a high-end condominium community with a target completion in 2026.

The Chetrit Group has secured a $310 million loan from Madison Realty Group to fund the first two phases of construction on the project.