Driftwood Capital, MV Real Estate Holdings, and Merrimac Ventures have closed on a $145 million construction loan from Centennial Bank for Riverside Wharf, a nine-story, two-tower hospitality and entertainment development rising at 114 Southwest North River Drive along the Miami River in Downtown Miami. The $350 million project is designed by Jon Cardello of CUBE 3 Architects, with Gensler completing the construction documents and ICRAVE leading the interiors. Moss Construction is serving as general contractor.
The financing will support vertical construction of the approximately 200,000-square-foot development, which is expected to include a 167-key Dream Hotel along with a collection of dining, nightlife, event, and waterfront spaces.
The Wharf. Courtesy of Driftwood Capital.
The Wharf. Courtesy of Driftwood Capital.
Plans call for a 30,000-square-foot nightclub, rooftop pool day club, 12,000-square-foot event hall, and 16,000 square feet of restaurant space. Riverside Wharf is also expected to include an expanded version of The Wharf Miami, a publicly accessible riverwalk, a seawall, and a pop-up location for Garcia’s Fish Market.
Nightclub – Riverside Wharf. Courtesy of Driftwood Capital.
Nightclub – Riverside Wharf. Courtesy of Driftwood Capital.
Nightclub – Riverside Wharf. Courtesy of Driftwood Capital.
” Riverside Wharf is designed to bring together hospitality, dining, entertainment and waterfront access in a single development. Closing this financing is an important step as construction progresses,” said Carlos Rodriguez Jr., President and CEO of Driftwood Capital. “Every part of this development has been carefully planned, creating a new landmark for luxury along the city’s historic Miami River.”
Dayclub – Riverside Wharf. Courtesy of Driftwood Capital.
The project is being developed through a partnership between Driftwood Capital, MV Real Estate Holdings, and Merrimac Ventures. The recently closed construction financing comes as work advances on the two-building complex along the north bank of the Miami River.
“This financing is what turns vision into vertical construction,” said Alex Mantecon, managing partner of MVREH and co-founder of Breakwater Hospitality Group. “We’ve built something special with Driftwood, Centennial Bank, and the rest of our partners, and we’re excited to keep that momentum going as Riverside Wharf takes shape on the Miami River.”
Hotel Room – Riverside Wharf. Courtesy of Driftwood Capital.
The Dream Hotel will account for 167 rooms within the development, while the remainder of the program will be divided among restaurant, entertainment, event, and outdoor spaces. The riverfront components will include a publicly accessible riverwalk and the return of The Wharf Miami.
“This financing supports a concept unlike anything currently operating in Miami, with hospitality, dining, nightlife and public access to the waterfront all thoughtfully integrated in one place,” said J.C. de Ona, Southeast Florida Division President at Centennial Bank. “The sponsors have assembled the right expertise to execute a development of this scale, and Centennial Bank is pleased to stand behind their plans as construction moves forward.”
Hotel Bistro – Riverside Wharf. Courtesy of Driftwood Capital.
Hotel Room – Riverside Wharf. Courtesy of Driftwood Capital.
CUBE 3 Architects is leading the architectural design under Jon Cardello, with Gensler responsible for the construction documents and ICRAVE designing the interiors. Moss Construction is overseeing construction.
Riverside Wharf Aerial. Courtesy of Driftwood Capital.
“Securing this construction financing is a significant milestone for Riverside Wharf and reflects the strength of our partnership with Driftwood Capital and MV Real Estate Holdings, as well as our shared confidence in the future of the Miami River,” said Dev Motwani, Managing Partner of Merrimac Ventures. “Together, we’re bringing back The Wharf – one of Downtown Miami’s most beloved waterfront destinations – while introducing the Dream Hotel, new restaurants and entertainment venues, and vibrant public spaces that that are intended to create an exciting new destination for residents and visitors alike.”
Completion of Riverside Wharf is scheduled for fall 2028.
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Awwwwmazing design…A focal point for riverside entertainment..🍒🥂🥂