In the heart of Miami’s bustling Brickell Financial District, a transformative vision is taking shape as two prominent developers have achieved a remarkable financial milestone that signals strong confidence in the region’s real estate market. Newgard Group and Two Roads Development have successfully secured a staggering $513 million in construction financing for an ambitious mixed-use condominium project along the Miami River. This substantial investment, one of the largest residential construction loans in South Florida this year, highlights the potential of this prime riverfront location. Situated at 99 Southwest Seventh Street, adjacent to the vibrant Brickell City Centre, the development promises to redefine luxury living in one of the nation’s most dynamic urban neighborhoods. As construction progresses rapidly, this project stands as a testament to the growing allure of Brickell as a hub for high-end residential offerings, blending modern design with unparalleled lifestyle amenities.
A Milestone in Miami’s Real Estate Landscape
The financing package for this riverfront endeavor is a blend of significant capital, comprising $370 million in senior funding from a private lender and an additional $143 million mezzanine loan from 3650 Capital. This substantial backing reflects deep trust in the vision shared by Newgard Group and Two Roads Development, highlighting the market’s belief in the project’s ability to deliver exceptional value. The strategic partnership between these two firms, solidified late last year, underscores a commitment to creating a landmark destination that caters to the evolving demands of luxury buyers. Positioned on one of the last undeveloped riverfront parcels in Brickell, the development is not just a building project but a redefinition of urban living, aiming to seamlessly integrate residential spaces with the vibrancy of Miami’s financial core. The confidence expressed by financial partners and stakeholders alike points to a broader trend of investment in South Florida’s real estate, driven by the area’s economic growth and global appeal.
Beyond the numbers, this financial achievement marks a pivotal moment for Brickell’s transformation into a premier destination for affluent residents and investors. The project’s location offers a rare opportunity to capitalize on the scenic Miami River views while being steps away from the commercial and cultural heart of the city. Harvey Hernandez, CEO of Newgard Group, has noted the critical role of partners like 3650 Capital in bringing this vision to life, emphasizing their support from the property’s acquisition through to construction. Similarly, Taylor Collins, Managing Partner of Two Roads, has highlighted the alignment of this development with the demand for top-tier residential experiences. As construction continues to advance, the collaboration between developers and financiers sets a strong foundation for delivering a project that could serve as a benchmark for future developments in the region, showcasing how strategic planning and robust funding can turn ambitious concepts into reality.
Architectural Vision and Unique Offerings
The riverfront project, known as One Brickell Riverfront, features two distinct condominium towers rising from a shared podium, designed by the renowned architectural firm Arquitectonica. The first tower, LOFTY Brickell, soars 44 stories and offers 362 residences ranging from studios to penthouses, with prices spanning $2.4 million to $3.5 million. Its design prioritizes a luxury lifestyle with over 40,000 square feet of amenities, including a private marina, a resort-style pool deck, and a state-of-the-art fitness center. A standout feature is the flexible ownership model, allowing residents to rent their units on personalized terms, catering to those seeking a turnkey investment in Miami’s urban core. Ground-floor dining options, such as a coastal Greek restaurant, further enhance the appeal, blending culinary experiences with residential elegance in a way that reflects the sophisticated tastes of modern buyers.
Complementing LOFTY Brickell is The Standard Residences, Brickell, a 46-story tower with 422 units starting in the mid-$600,000s, offering a more accessible entry into luxury living. This tower boasts an array of unique amenities, including a rooftop pool, a spa with specialized features, and even a bowling alley, catering to diverse resident interests. Sales for this component are managed by a prestigious international realty firm, ensuring a high level of market reach and buyer engagement. Both towers are crafted to provide distinct yet complementary living experiences, addressing a wide spectrum of preferences within the luxury market. The architectural approach not only maximizes the riverfront location but also integrates lifestyle-driven elements that resonate with today’s discerning residents, positioning the development as a trailblazer in combining urban convenience with high-end comfort.
Progress and Future Impact on Brickell
Construction of the two towers has already surpassed the halfway mark, with delivery anticipated well ahead of the initial timeline set for August 2027. This accelerated pace reflects the developers’ dedication to efficiency and their ability to navigate the complexities of large-scale urban projects. Plans are in place to top off construction early next year, a milestone that will further solidify the project’s standing as a transformative addition to Brickell’s skyline. The rapid progress is a clear indicator of the seamless coordination between Newgard Group and Two Roads Development, as well as the unwavering support from their financial partners. As the structures rise, they symbolize not only physical growth but also the burgeoning potential of Brickell as a magnet for luxury real estate investment, drawing attention from both domestic and international markets.
Looking ahead, the completion of this riverfront development is poised to elevate Brickell’s status as a leading urban destination, offering a blueprint for how luxury and lifestyle can coexist in a densely populated financial district. The project’s emphasis on innovative design and resident-focused amenities taps into a growing trend of demand for flexible, high-end living spaces in city centers. Jonathan Roth of 3650 Capital has commended the developers’ proven track record and the strategic importance of the location, noting their firm’s expertise in supporting complex projects from start to finish. As this development nears completion, it will likely inspire similar initiatives, reinforcing the narrative of Miami as a city of opportunity and sophistication. The impact of such a significant investment extends beyond the immediate site, promising to stimulate economic activity and enhance the cultural fabric of the surrounding community.
Reflecting on a Transformative Achievement
Reflecting on this monumental undertaking, the securing of $513 million in financing by Newgard Group and Two Roads Development marked a defining moment in Miami’s real estate history. The collaboration between these developers, alongside the support of key financial partners, demonstrated a shared vision that propelled the project forward with remarkable speed. Construction milestones were achieved ahead of schedule, showcasing operational excellence and a deep understanding of market needs. The architectural brilliance of the dual-tower design by Arquitectonica captured the essence of luxury urban living, setting a high standard for what Brickell could offer to its residents. This endeavor not only reshaped the riverfront but also underscored the enduring appeal of South Florida as a destination for significant real estate investment, leaving an indelible mark on the region’s landscape.
