A new Wharf, with hotel and clubs, will soon rise along the Miami River
After over 10 years of discussions and two Miami city referendums, a $350 million development that backers promise will transform the downtown riverfront will finally break ground in December.
Riverside Wharf Miami will span 1.35 acres, stretching from the Interstate 95 overpass to Northwest First Street. The property’s southern end covers the former site of The Wharf Miami, a popular outdoor gathering spot.
The nine-story project includes a 167-room luxury hotel, a 30,000-square-foot nightclub, a rooftop pool, day club, and a new marina.
Also coming are 16,000 square feet of restaurants. Garcia’s, the iconic fish market and restaurant up the river near Northwest Fourth Street, is a partner and will expand to the new complex.
Riverside Wharf will “redefine our waterfront for generations to come,” Alex Mantecon, a leader of the project, said at a ceremonial ground-breaking event on Dec. 4 at the construction site. The result, he said, will be “one cohesive walkable waterfront and not just an isolated destination.”
Well-heeled, finely dressed supporters attended the celebration, where they nibbled on stone crabs from Garcia’s and canapés. Miami Mayor Francis Suarez and city commissioners were also there.
MORE: See what the Riverside Wharf will look like
Work on the foundation will start this month, Mantecon and Carlos Rodriguez Sr., founder and CEO of Driftwood Capital, told the Miami Herald at the Dec. 4 event. Construction will go into full gear in January. Completion is expected around March 2028.
The project’s developers are MV Real Estate Holdings; Mantecon’s firm; Driftwood, a Coral Gables commercial real estate investment firm; and Merrimac Ventures. Breakwater Hospitality, run by Mantecon and Emi Guerra, is also a partner. Fort Lauderdale-based Moss Construction is the general contractor.
The project has been a long time in the making. It required public approval in two separate referendums because it sits on public waterfront land.
The previous spot on the site, Wharf Miami was founded by Mantecon and partner Emi Guerra, and meant to be temporary. The informal venue to eat, drink, dance and do Sunday yoga, became a hit.
But the two had much bigger dreams. They closed the Wharf Miami in 2023.
In 2016, Mantecon bought an initial two parcels of land in a competitive solicitation by the city. He obtained a 30-year lease with two 10-year options for his project at the time, a $30 million complex of restaurants.
The Miami city charter requires voter approval for long-term leases of public land on waterfront property. Changes to existing leases also need the voters’ blessing. In March 2016, they backed the project.
By December 2021, Mantecon’s plans grew. He and his partners revealed the early contours of the Riverside Wharf Miami. Driftwood had entered the picture. And they decided they needed a 100-year lease to secure financing, Mantecon said.
Voters backed the revised project, too, in a new referendum in August 2022.
As part of that referendum, the developers commited to investing at least $30 million in the complex, build a new seawall and public riverfront, and pay 50% more to the city in rent.
Mantecon told the Miami Herald he had to attend at least 14 city commission votes over the years about Riverside Wharf.
