Riverside Wharf Breaks Ground on $350M Mixed-Use Landmark in Miami River District

Riverside Wharf Miami River has officially broken ground at 114 SW North River Drive, launching a $350 million mixed-use development that blends hospitality, nightlife, dining, and major public infrastructure upgrades in Downtown Miami’s River District.

Developed by MV Real Estate Holdings, Driftwood Capital, and Merrimac Ventures, Riverside Wharf will span more than 200,000 square feet across two nine-story towers. At its core, the project features a 167-key Dream Miami hotel, complemented by high-impact entertainment and lifestyle offerings. CUBE 3 Architects designed the project, ICRAVE leads the interiors, and Moss Construction is overseeing the build. Developers expect completion in Fall 2028.

Previously, the site housed The Wharf Miami, which closed in May 2023. While the original venue drew strong crowds, Riverside Wharf scales the concept into a full-service, luxury destination. As a result, the riverfront gains both upgraded amenities and expanded public access.

What’s Included

Riverside Wharf delivers an entertainment-forward program designed to activate the river day and night. Plans include a 30,000-square-foot nightclub, a rooftop dayclub with pool, 12,000 square feet of event space, and 16,000 square feet of dining.

In addition, the project invests heavily in public infrastructure. Improvements include an expanded riverwalk, a new seawall, and integrated climate-resilience features. The development will also feature a Garcia’s Fish Market pop-up that honors local history, along with mega-yacht dockage that strengthens access via the Miami River.

Why It Matters for Investors

Riverside Wharf showcases a strong model for hospitality-driven mixed-use investment. By pairing short-term accommodations with food, beverage, and entertainment anchors, the project creates multiple revenue streams.

Moreover, the entertainment-led strategy is expected to increase foot traffic. That activity should drive higher nearby rents, faster tenant absorption, and stronger retail performance. Area values could rise 5–8% annually as district-wide upgrades take hold.

Equally important, public-private coordination with the city improves long-term resilience. Investments in seawalls and pedestrian infrastructure enhance both livability and asset durability. Meanwhile, diversified income from hotel operations, event rentals, restaurant leases, and marina rights adds financial stability.

The Bigger Picture: Miami River’s Evolution

Riverside Wharf joins a growing pipeline reshaping the Miami River District. Nearby in Brickell, Chetrit Group and Groot Hospitality are advancing a long-delayed $1 billion River District megaproject. Together, these developments signal rising confidence in the riverfront’s value trajectory.

Consequently, the district is shifting quickly. Formerly underused parcels are giving way to fully programmed, income-producing properties.

A New Era for the Miami River

Riverside Wharf represents more than a hospitality launch. Instead, it signals a new phase for the Miami River District. For investors and landlords, the project highlights a narrowing window to secure positions in a corridor poised for sustained appreciation and long-term returns.

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