River Rapids
Update
05/14/24
Developer Secures $66 Million in Construction Funding for Miami River District Apartments
Developer ROVR Development has obtained a construction loan of $66 million for River Rapids, situated along the Miami River, The community, which will provide 593 apartment units, will be constructed in two phases. The loan will go towards construction of the first phase which will begin construction in May 2024, with completion expected in the fourth quarter of 2025. The first phase will include 300 units, the second phase will include 293 units. Phase one will consist of an eight-story building and phase two will rise 12 stories. Each building will have an amenity deck with a pool and cabanas, an outdoor kitchen and bar, fitness center, club lounge, market, business center, conference rooms and on-site parking. Construction of phase two is slated to start at the end of 2025.
