Miami’s Building Department has issued a total demolition permit for the One Bayfront Plaza site at 100 South Biscayne Boulevard, marking the first step towards developing a new supertall tower in downtown Miami. The permit, approved on March 27, was finally issued on June 25.
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.
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.
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.
Oak Row Equities has acquired 49 Northwest 5th Street in Downtown Miami, where it plans to develop First & Fifth, a 45-story multifamily tower. The site was purchased off-market for $38.5 million with seller financing and is located across from MiamiCentral Station, the hub for South Florida’s major train systems. The 700,000-square-foot tower is being designed by ODP Architecture & Design, drawing inspiration from Miami’s turn-of-the-century Venetian architecture while incorporating modern amenities. Colliers Executive Managing Director Mika Mattingly, Senior Associate Cecilia Estevez of the South Florida Urban Core Team, and Vincent Pastore of Pastore and Associates represented the seller in the transaction.
