Neo Lofts

Miami River District Gets Long-Awaited Transformation with $185M Wharf Redevelopment

Bringing mega hospitality and entertainment to the Miami River District just west of Downtown, Miami voters approved a 50-year lease extension on The Wharf, and in doing so, have given co-developers MV Real Estate Holdings, Driftwood Capital, and Merrimac Ventures the green light with their plans to create $185 million hospitality and entertainment destination for this industrial area of Miami. Located at 114 SW North River Drive, the parcel in question is currently home to an outdoor entertainment venue called The Wharf. While the Miami River district is a favorite for dining by boat and yacht at the likes of Kiki on the River and SeaSpice, this new approval by voters means the otherwise industrial marine area can now be redeveloped to include a world-class entertainment complex that would help revitalize the Miami River district – one of the last few undeveloped areas of Downtown that have been waiting to get a facelift. ### Get Ready to Welcome Miami’s new Riverside Wharf by 2025 Designed by Jon Cardello of Cube3 architects, the waterfront hospitality project will be known as the Riverside Wharf. Housed in two 10-story buildings, developers aim to build and deliver: * A 165-key Dream-branded luxury hotel, also managed by the Dream Hotel Group * A 30,000-square-foot nightclub and rooftop day club * A 12,000-square-foot event hall * 16,000 square feet of signature restaurants * A private marina with room to dock megayachts * A new seawall and connection to the public riverwalk that links to Brickell and Downtown * A revamped and extended version of The Wharf Miami Expected to break ground by the second quarter of 2023 and be completed by 2025, The Wharf will remain shut during the course of construction. ### What does The Wharf’s redevelopment mean for Miami River and its Neighbors? Developers in Miami have been in overdrive over the past two years, trying to satiate the heightened demand for luxury housing created by businesses and wealthy families relocating from the likes of New York, San Francisco, and Los Angeles. And while Downtown Miami has already entered its next phase of gentrification with the Flagler Street renovations almost complete and the Bayside Marketplace closing for an upgrade, the Miami River district has been in need of revitalization. The addition of this brand-new entertainment and hospitality complex will not only help connect the riverfront project to the rest of Downtown but also be a bonus for residents in neighboring condo buildings. Residents of the 32-story Flagler On The River next door and the 18-story Neo Lofts across the river stand to gain the most. Also, those in the newly launched and completed Elser Residences & Hotel, upcoming Aston Martin Residences, plus Waldorf Astoria Hotel & Residences will now be less than 5 minutes from yet another world-class attraction. ### Terms of the New Wharf Lease In return for accepting the new lease and referendum allowing the 58,000-square-foot hospitality facility to be built, the developer trio agreed to a significant hike in rent and private investment. Miami voters agreed to approve the 50-year lease extension in exchange for a 50% increase in base rent or “fair market rent, if greater.” They also hiked the minimum private investment on the waterfront site from $7 million to $30 million. MV and Driftwood had already been paying more than $200,000 a year in rent to the city since 2016, as part of a 30-year deal. Looking for a luxury residence in the thick of Miami? Want more details on Downtown or Brickell? Call, chat, or email us for direct consultation. Or, subscribe to this blog to stay up-to-date on all the latest preconstruction, lifestyle, and condo-related news in Miami. **ARE WE FRIENDS ON SOCIAL MEDIA?** 📣 Connect with us on Instagram, TikTok and Youtube. 📣

Miami Neighborhood Comparison: Key Biscayne vs Brickell

One of the key advantages of living in Miami is its wide variety of neighborhoods to choose from. From luxury towers overlooking secluded beaches to modern skyscrapers in the heart of the urban jungle, there’s a place for every need and desire. Two Miami neighborhoods that best exemplify both ends of this spectrum are Key Biscayne and Brickell. Not only do they differ in the housing options and price points they have available, but their particular dynamics also offer vastly different lifestyles, perks, and sceneries. And yet they are very close to each other. In this blog, we'll compare both locales in several categories so you can make an informed decision when choosing to buy or rent a property if you’re considering Key Biscayne vs Brickell.

An August to ‘Spice’ Up Life with Food, Wine and Rum!

August is one special month in Miami when it comes to indulgences. We have the Spa and Spice months that coincide, which means you can nosh on a fancy three-course meal and try out that chakra balancing treatment you’ve been eyeing, all at the price of a single night out on the town. There’s also a drum festival, a rum festival, ballet and Rolling Stones concert to keep things chill through these sultry summer days. Read on for details: ## Miami Spa Months: July 1 - August 31 _Various venues across Miami_ If you missed your chance last month, here’s one whole month to catch up on your wellness. Miami Spa Month continues into August with a variety of deals and discounts on the highest standards of spa therapy, starting at as low as $109\. Check out the various treatments and packages offered by Miami’s best health clubs, hotel spas, day spas and med spas here. ## Miami Spice Months: August 1 - September 30 _Various venues across Miami_ The most delicious months on the Miami Temptations calendar are back again! Pull out your fork and knife to savor the best culinary delights in the city, five-star to local hits, all at highly discounted prices. The top eateries and chefs in Miami will be showcasing their top talent with three course meals and prix-fixed menus. For two whole months, you get to nosh on signature dishes priced at $23 for lunch/brunch and $39 for dinner. So, don’t waste a minute more waiting and check out the list of participating restaurants here. ## African Diaspora Dance and Drum Festival of Florida: August 2-4 _212 NE 59th Terrace, Little Haiti Cultural Center, Little Haiti_ The first weekend of August brings another colorful festival to Miami. This cultural event features dance workshops, live performances, yoga, a better living health fair and symposium, a bazaar, free children’s village zone and much more. In its 10th year, the festival brings together renowned native artists from Guinea, Senegal, Mali, Ivory Coast, Haiti and Cuba. These artists will be performing to the tune of “Seeds of the Diaspora”, which is also the theme of the year. ## National Rum Day Festival: August 16 _4041 Collins Avenue, The Confidante Miami Beach, Mid-Beach_ Cool down with your favorite rum, poolside, at The Confidante Miami Beach hotel. This heady festival brings you complimentary tastings and the chance to mingle with the best mixologists, as you try out the best of local and global rum brands. There will also be lots of games and live music for a fun-filled evening. ## Chefs Up Front: August 16 _1200 Anastasia Avenue, The Biltmore, Coral Gables_ Not a rum fan? Then dine for a cause at the Chefs Up Front fundraiser. This culinary event includes an elaborate table-side meal prepared by the most sought-after chefs and served with an expertly paired wine selection for each course. With tickets costing $250, all of the proceeds of the event and silent auction will go to benefit the Florida Cooking Matters program, which is a part of the Share Our Strength’s No Kid Hungry campaign. ## Coconut Grove Food and Wine Festival: August 17 _2985 S. Bayshore Drive, Coconut Grove_ We recommend working up an appetite for this progressive food festival, with tickets starting at $25\. Begin your stroll with tastings and demos at the Coconut Grove Woman’s Club. Then, carry on through the Mutiny Hotel’s pool area for a taste of some of the finest spirits. This delicious festival brings forth dishes from Coconut Grove’s newest restaurants and famous chefs along with access to rum bars, craft beer stations and fine wine samplings. Featuring full family entertainment, the fest will also have a Kid’s Zone, Waiter’s Race, Cuban Sandwich Smackdown Contest, Doggies Bark in the Park Contest and live music. ## Florida Track Days: August 18 _1 Speedway Blvd, Homestead Miami Speedway, Homestead_ Every biker’s dream, this is your chance to push your bike to its fullest protentional in a safe and supervised environment. Taste new speed levels and try out new skills without any speed limits or stop signs at this world-class facility. Book your spot in advance for some private lessons. Or, join the advanced rider classes, where expert instructors train you to explore your full potential under the supervision of a competent safety crew. ## International Ballet Festival of Miami: July 27 - August 18 _Various venues across Miami_ Enjoy an array of graceful evenings courtesy this fine festival. You will find the greatest stars from ballet companies from across the globe performing at this three week-long festival. Celebrating the past, present and future of ballet, come to witness local talent to visiting stars performing in modern, contemporary and classic styles. Click here for the full schedule and tickets. ## Rolling Stones Concert: August 31 _347 Don Shula Drive, Hard Rock Stadium, Miami Gardens_ This one is for the young at heart and those with a classic soul. The greatest rock bands of all time will be visiting the Hard Rock Stadium for one of its most explosive events. Grab your seats here to catch this legendary band in all its glory, as it closes out its summer tour. So, where would you like to be seen this August? Let us know in the comments below!