Developers Secure Construction Loan for ‘Rivage Residences’ at 10245 Collins Ave., Bal Harbour, Florida

The acquisition of a $424 million construction loan will make completing Rivage Residences in Miami-Dade County possible. Florida YIMBY first reported on this luxury high-rise in early 2023.

The venture will comprise 56 condos (also called “sky villas”, according to the South Florida Business Journal) and measure 24 stories above grade. The homes will span about 3,300 to 13,000 square feet, with the cost of ownership starting at $8 million when sales first launched. Currently, the only unsold homes start at $10 million.

There will be more than 25,000 square feet of communal amenities. Image from Rivage’s website

Plans call for more than 25,000 square feet of communal amenities, where residents and their guests will have access to multiple pickleball courts, a fitness center, swimming pool, and a whole lot more.

General contractor Miami Coastal Construction broke ground on the project in September 2024, with completion slated for 2027. The Related Group, Rockpoint and Two Roads Development are the developers. They secured the 2.55-acre site by gradually buying out the units that previously belonged to Carlton Terrace, which was demolished prior to groundbreaking. Skidmore, Owings & Merrill is the architect, and Rottet Studio is handling the interior design. Douglas Elliman is conducting sales.

Rivage Residences is currently unfolding at 10245 Collins Ave., Bal Harbour, Florida, 33154, in Miami-Dade County.

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