$145 million behind the Miami River’s next chapter
· Groundbreaking held in 2025; not yet open
A Dream hotel, a rooftop pool club, restaurants, nightlife and a new public riverwalk: Riverside Wharf, on the north bank of the Miami River downtown, now has a $145 million construction loan behind it, according to the South Florida Business Journal.
The headline
From plans to financing
Driftwood Capital and its partners have secured a $145 million construction loan for Riverside Wharf, the South Florida Business Journal reported on October 23. The loan’s terms and lender were not available to us.
The project broke ground in December 2025 at 114 SW North River Drive, on the river’s edge in downtown Miami. The plans bring together a Dream hotel, a rooftop pool day club, restaurants, a large nightclub, an event hall and the return of The Wharf Miami, the open-air riverside venue that used to occupy the site.
- Financing
- $145 million construction loan, as reported by the South Florida Business Journal
- Address
- 114 SW North River Drive, downtown Miami, on the Miami River
- Plans
- Dream hotel, rooftop pool day club, restaurants, nightclub, event hall, and a rebuilt The Wharf Miami
- Public space
- A new public riverwalk and a new seawall, according to the developers
- Size
- More than 200,000 sq ft, nine stories, a project of about $350 million, as reported at groundbreaking
- Developers
- MV Real Estate Holdings and Driftwood Capital, with Merrimac Ventures
- Design
- CUBE 3 Architects; interiors by ICRAVE
- Status
- Groundbreaking held in December 2025; not open. A fall 2028 completion was targeted at groundbreaking.
Why it matters · Our view
The Miami River is downtown’s least-used waterfront, and this project is one of the largest bets on changing that. Beyond the hotel and nightlife, the public riverwalk and new seawall would change how residents can actually use this stretch of the river. Financing is the step that separates a rendering from a building, but it does not guarantee an opening date.
Still to be confirmed
The loan’s lender and terms, current construction progress, and a confirmed opening date. Official figures for the hotel’s room count differ between sources, so we have not listed one.
Sources
- Riverside Wharf — official groundbreaking announcement, December 2025 (opens in a new tab) (plans, riverwalk, seawall, rendering)
- South Florida Business Journal, October 23, 2026 (opens in a new tab) ($145 million construction loan; subscription may be required)
- Florida YIMBY, December 2025 (opens in a new tab) (size, cost, design team, 2028 target)
Related: The Paris studio behind Hermès stores designs a Miami tower →
Want to know more?
Ask Cathy Mai Phung, Miami real estate & innovation advisor and founder of Miami Reimagined.