Riverside Wharf, 114 SW North River Drive, Miami, Florida

Riverside Wharf has its construction loan. Centennial Bank provided $145 million toward the $350 million hotel and nightlife complex at 114 SW North River Drive in downtown Miami, Commercial Observer reported Oct. 26, 2026. The venture led by Driftwood Capital and Merrimac Ventures broke ground last December, and Moss Construction is the general contractor.

The rest of the stack is still filling in. The team has raised $15 million through EB-5 and is aiming for $60 million.

Project Scope

The 1.3-acre site sits on the Miami River between the First Street drawbridge and Interstate 95, on land owned partly by MV Real Estate Holdings, which remains a partner, and partly by the City of Miami. Voters approved a 50-year extension of the city ground lease in 2022.

Plans call for two nine-story towers with more than 200,000 square feet. The hotel piece is a 167-key Dream Miami. Around it go a 30,000-square-foot nightclub, a rooftop pool dayclub, a 12,000-square-foot event hall and 16,000 square feet of restaurants. The Wharf, the outdoor bar that used to run on the site, comes back as part of the program, along with a Garcia’s Fish Market pop-up that nods to the river’s fishing history.

Jon Cardello of CUBE 3 designed the towers, Gensler is producing the construction documents and ICRAVE is doing the interiors. Completion is scheduled for fall 2028.

Why It Matters

The developers have to build a new public riverwalk and a new seawall as part of the deal, and that’s the piece the city cares most about. Seawall work on the Miami River is slow, permit-heavy marine construction, and it often ends up on the critical path for anything built at the water’s edge.

The financing is the other story. A $145 million bank loan covers well under half of a $350 million budget, and the team is still raising EB-5 money a year into construction. EB-5 money tends to arrive slowly, so how fast that remaining gap closes is worth watching.

For Moss, it’s a tight urban riverfront site wedged against a drawbridge and an interstate, where laydown space is scarce. If the schedule holds, the Miami River gets a 167-room hotel and a public riverwalk by fall 2028.

Project Team & Details