Miami


Waldorf Astoria Hotel & Residences Secures Record-Breaking Construction Loan and Reaches Major Milestone in Downtown Miami

The Waldorf Astoria Hotel & Residences, a nearly 100-story luxury tower set to rise at 300 Biscayne Boulevard in Downtown Miami, has secured a historic $668 million construction loan, the largest ever for a residential condominium development in Florida. The project, developed by PMG, Greybrook, Mohari Hospitality, S2 Development, and Hilton, achieved this financing milestone with Bank OZK and Related Fund Management providing the funds.

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Miami Riverbridge Gains Unanimous Approval from City of Miami Urban Development Review Board

The redevelopment plans for Downtown Miami’s Hyatt Regency site have received unanimous approval from the City of Miami Urban Development Review Board. The updated project plans for Miami Riverbridge, presented by Hyatt Hotels Corporation and Miami’s Gencom under HRM Owner, LLC, were approved without any conditions at the board hearing. Construction is expected to begin in 2026, with an anticipated opening in 2030.

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Plans Submitted for Grove Village Bimini Block Project in Coconut Grove

Grove Bimini Nassau QOZB, LLC, managed by Sankesh Abbhi of Miami-based private equity firm Abbhi Capital, has submitted plans for the Grove Village Bimini Block Project to the City of Miami’s Urban Development Review Board (UDRB). The proposed project, encompassing the addresses 3410 and 3428 Hibiscus St, 3509/3521/3547/3551/3559/3575 and 3587 Thomas Avenue, and 3520/3522/3530/3560 and 3574 Grand Avenue in Miami, aims to modify the existing Major Use Special Permit (MUSP) approved by the City of Miami Commission in 2011. The UDRB is scheduled to review this submittal today.

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Three-Tower Development ‘Miami Riverbridge’ in Downtown Miami Submitted for UDRB Review

Hyatt Hotels Corporation and Miami’s Gencom, under the HRM Owner, LLC, have submitted plans for Miami Riverbridge to the City of Miami’s Urban Development Review Board (UDRB). The proposed development, located at 298, 300, 330, and 400 SE 2 Avenue, aims to transform the current site of the James L. Knight Center, the Miami Convention Center, the Miami Conference Center, and the Hyatt Regency Hotel into a cohesive mixed-use complex.

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