The River District
Update
05/13/24
Construction Loan for Miami River District Project Increased to $340 Million
Developer Chetrit Group has secured additional construction financing for the River District project in Miami. Madison Realty Capital provided a $30 million mezzanine loan in addition to the $310 loan provided in 2021. Formally known as the Miami River Tower, the first phase of the larger The River District project, will feature 632 apartments, retail space, and a public promenade on the river. Construction of the first phase is underway, completion is expected in the fourth quarter 2024. The tower will rise 54 stories with 1,961 residential units total between all four towers, 29,600 square feet of restaurant space, 12,020 square feet of retail, 40,000 square feet of office space, 17 marina slips, and 2,000 parking spaces across five phases of construction.
