60 percent of voters said “yes” to the land lease extension moving the waterfront hospitality-centric complex forward, adding jobs, providing more money to the city and improving the Miami Riverwalk community.
MIAMI – August 24, 2022 – Yesterday, voters overwhelmingly approved an amendment to extend the lease of city land for use in the future development of Riverside Wharf, a $185 million hospitality-driven entertainment complex that promises to usher in a new era for the Miami River District. With 60.12 percent of the vote in favor of the amendment, the victory marks another step forward in developing the project. Developed by MV Real Estate Holdings in conjunction with Driftwood Capital and Merrimac Ventures, the the 10-story, 200,000-square-foot project will be the defining development for Miami’s Downtown core as a city-within-a-city all-encompassing destination for unparalleled entertainment, exceptional dining and world renowned hotel accommodations. It will encompass a world-class 30,000-square-foot nightclub and rooftop dayclub, a high-energy 12,000-square-foot event hall and mezzanine, as well as the rebirth and expansion of The Wharf Miami, with 16,000 square feet of signature restaurants and a private marina capable of accommodating megayachts. Planning to break ground in the second quarter of 2023, it will also feature a 165-key Dream Miami luxury hotel.
“We want to give a heartfelt thank you to everyone in Miami. We are deeply grateful for everyone’s tremendous support and couldn’t be more excited to transform the Miami River District into the world-class entertainment destination it always had the potential to be,” said Alex Mantecon, co-developer of Riverside Wharf and co-founder of Breakwater Hospitality Group. “Riverside Wharf is designed to be the anchor in entertainment and hospitality for the Miami River District and Downtown Miami. It is carefully curated by deep-rooted Miami locals that have a passion for entertainment and service in order to achieve an iconic building with world class venues that will ultimately redefine the standards for nightlife, entertainment, restaurants and hospitality.”
With the voters’ green light, the developers’ lease will be extended for 50 additional years, paving the way for Riverside Wharf to become a longstanding part of the Miami River community. The vote also will allow Riverside Wharf and its development partners the ability to provide the community with more jobs, commit more money to the City of Miami, improve the riverwalk and public areas near the property as well as improve the conditions of the surrounding seawall.
Riverside Wharf aims to merge the storied riverfront location with state-of-the-art amenities and modern design. The interaction between these elements will make the two-tower development a truly distinctive and transformative nightlife destination, offering visitors access into the extraordinary, the unique, and the unparalleled. Designed by Jon Cardello of Cube3 architects, and landscape design by Savino-Miller Design Studio, the fully immersive Miami experience Riverside Wharf will provide will set the stage for patrons to discover the unexpected.
Dedicated to improving the neighborhood and giving back to the community, the developers of Riverside Wharf will construct a new public riverwalk along the development site as well as a state-of-the-art sea level rise initiative that will include building a new seawall. The project also will pay homage to the neighborhood’s historic fishing culture by providing a pop-up Garcia’s Fish Market on the grounds, where locals can get the freshest catch daily.
Miami River District is poised for a renaissance with Riverside Wharf and other mixed-use and residential developments on the horizon which will catalyze economic growth in the neighborhood.
The Wharf Miami will temporarily close operations once construction commences and will open as a permanent venue as a part of the new development. For more information, please visit www.riversidewharf.com.
MV Real Estate Holdings
Founded in 2008 by Alex Mantecon and Guillermo Vadell, MV Real Estate Holdings, LLC (“MVREH”) is a multifaceted real estate investment and development firm specializing in the acquisition and development of complex and unique projects. With over 200 transactions since its inception, MVREH has distinguished itself with marquee projects within downtown Miami (the East Coast Building, The Wharf Miami) and multiple projects along the Ludlam Trail (Altis Ludlam Miami & Ludlam Trail Towers). MVREH’s portfolio includes holdings across multiple asset classes, including self-storage, multifamily, and hospitality.
About Breakwater Hospitality Group
Breakwater Hospitality Group is a multi-concept food and beverage investment and operations firm based in Miami, Florida. Founded in 2018 by Emi Guerra and Alex Mantecon, Breakwater’s concentration on quality beverages and cuisine transcends dining into memorable spaces with unforgettable locations, culminating in community social hubs. Currently, Breakwater Hospitality Group operates The Wharf Miami, The Wharf Fort Lauderdale, Rivertail, CH’I in Brickell, The Piefather, and Carousel Club, and in 2022 will open JohnMartin’s and Pier 5.