Driftwood Capital, MV Real Estate Holdings, and Merrimac Ventures have secured a $145 million construction loan for Riverside Wharf, a planned hospitality and entertainment complex at 114 SW North River Drive in Downtown Miami. The financing was provided by Centennial Bank and is intended to support vertical construction on the long-anticipated project overlooking the Miami River.
The development is planned as a nine-story, two-tower project spanning about 200,000 square feet. In addition to a 167-key Dream Hotel, the program calls for restaurants, nightlife venues, event space, a rooftop pool day club, and waterfront public areas. Construction now has a major funding source in place, moving the project from site activity into the next phase of building.
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Riverside Wharf is also designed to bring back The Wharf Miami, one of the better-known waterfront entertainment concepts in Downtown Miami, while adding a publicly accessible riverwalk and other civic-facing features along the north bank of the river.
| Project Detail | Information |
|---|---|
| Project Name | Riverside Wharf |
| Address | 114 SW North River Drive, Downtown Miami |
| Developers | Driftwood Capital, MV Real Estate Holdings, Merrimac Ventures |
| Lender | Centennial Bank |
| Reported Loan Amount | $145 million |
| Total Project Budget | $350 million |
| Hotel Component | 167-key Dream Hotel |
| Design Team | CUBE 3 Architects, Gensler, ICRAVE |
| General Contractor | Moss Construction |
| Expected Completion | Fall 2028 |
Financing unlocks the next stage of construction
The newly closed loan is a significant step for a project that has been positioned as a major addition to the Miami River corridor. While the development team has not publicly disclosed a full construction schedule beyond its expected completion in fall 2028, the financing suggests the project is now far enough along to advance into vertical work.
According to Florida YIMBY, the loan will help support the rise of the two-building complex, which is being delivered by a partnership among Driftwood Capital, MV Real Estate Holdings, and Merrimac Ventures. The article also notes that Moss Construction is serving as general contractor, with design work led by Jon Cardello of CUBE 3 Architects. Gensler is completing the construction documents, and ICRAVE is handling the interiors.
In South Florida, construction financing is often the clearest signal that a large mixed-use proposal is moving from vision to execution. For a project like Riverside Wharf, which blends hotel, dining, entertainment, and public waterfront access, a loan of this size typically reflects both lender confidence and a project team ready to move forward with a complex buildout.
A hospitality-and-entertainment project on the Miami River
Riverside Wharf is planned for the north bank of the Miami River in Downtown Miami, an area that has seen continued interest from developers looking to capitalize on riverfront frontage, walkability to the urban core, and access to both local and visitor traffic. The site at 114 SW North River Drive places the project near a part of Downtown Miami that has long been tied to restaurants, nightlife, marina uses, and waterfront activation.
The development’s overall program is centered on experience-driven uses rather than conventional residential product. Plans call for a 30,000-square-foot nightclub, a rooftop pool day club, a 12,000-square-foot event hall, and 16,000 square feet of restaurant space. The project will also include an expanded version of The Wharf Miami, which has become one of the better-known waterfront gathering places in the area.
In addition to the hospitality and entertainment components, the developers say Riverside Wharf will include a publicly accessible riverwalk, a new seawall, and a pop-up location for Garcia’s Fish Market. Those elements are notable because they extend the project beyond private-use programming and into the public realm along the river.
Hotel, dining, and public spaces form the core program
The planned Dream Hotel will account for 167 rooms within the development. The rest of the square footage will be split among restaurants, nightlife, event spaces, and outdoor amenities. While many Miami projects emphasize residential density, Riverside Wharf is instead focused on a mixed hospitality model built around tourism, events, and nightlife.
That distinction matters for Downtown Miami, where developers continue to test different formulas for riverfront and urban-edge parcels. A hotel-anchored project can bring a different customer base to the area than a condo tower, and the addition of large-format entertainment spaces suggests the sponsors see the location as suitable for destination traffic as much as neighborhood use.
The project team has described Riverside Wharf as a venue that combines hospitality, dining, entertainment, and waterfront access in one place. That structure is consistent with the broader trend in Miami River development, where some projects are increasingly designed as mixed-use destinations rather than single-purpose buildings.
Design and construction team behind Riverside Wharf
Riverside Wharf’s design team spans several firms with different responsibilities. CUBE 3 Architects, led by Jon Cardello, is overseeing the architectural design. Gensler is responsible for the construction documents, which are the detailed technical drawings and specifications used to guide the build. ICRAVE is handling the interior design.
Moss Construction is the general contractor, a role that typically includes coordinating the schedule, subcontractors, and day-to-day execution of the jobsite. With financing now in place, the project can move through the next phases of construction management and field work.
Project partner Dev Motwani, managing partner of Merrimac Ventures, said in the Florida YIMBY report that the financing marks a major milestone and supports the return of The Wharf as part of a broader waterfront destination. Carlos Rodriguez Jr., president and CEO of Driftwood Capital, described the project as one that brings together hospitality, dining, entertainment, and waterfront access in a single development.
Why the deal matters for Downtown Miami
Riverside Wharf adds to a growing list of projects reshaping the Miami River edge and surrounding Downtown Miami corridor. Unlike residential development, which has driven much of South Florida’s recent high-rise pipeline, this project is anchored by hotel and entertainment uses that can help activate the waterfront on evenings and weekends as well as during the day.
The combination of a hotel, event space, restaurants, and a public riverwalk also places the project within a broader civic and placemaking conversation. Downtown Miami has seen repeated efforts to strengthen pedestrian access and public-facing riverfront uses, and Riverside Wharf is positioned as one of the more ambitious examples of that approach in the immediate area.
For the market, the loan is also a reminder that well-capitalized hospitality projects continue to attract financing when the location, sponsorship, and concept line up. The size of the debt package and the involvement of established South Florida developers point to a project that is being treated as a significant investment rather than a speculative waterfront concept.
What comes next
With the loan now closed, the most immediate next step is continued vertical construction. The project is scheduled for completion in fall 2028, though the development team has not publicly outlined additional milestones such as topping out or opening phasing.
As Riverside Wharf moves forward, attention will likely focus on how the project balances private hospitality uses with the promised public realm improvements along the river. For Downtown Miami, the development represents another step in the ongoing transformation of the riverfront into a more active mixed-use corridor.
Frequently asked questions
Where is Riverside Wharf located?
Riverside Wharf is planned for 114 SW North River Drive in Downtown Miami, along the Miami River.
Who is developing the project?
The project is being developed by Driftwood Capital, MV Real Estate Holdings, and Merrimac Ventures.
How much financing was secured?
The development team closed on a $145 million construction loan from Centennial Bank.
What is planned for the site?
The project is expected to include a 167-key Dream Hotel, restaurants, nightlife and event spaces, a rooftop pool day club, a riverwalk, and the return of The Wharf Miami.
When is Riverside Wharf expected to open?
Completion is currently scheduled for fall 2028.
