Chetrit Group Plans Miami Riverwalk Project Along Miami River

Rendering of the proposed Miami Riverwalk project

A New York developer, Chetrit Group, plans to liven up the Downtown Miami scene by building the Miami Riverwalk along the Miami River, which will consist of four 60-story towers. The towers will be located on 6.5 acres and consist of 1,449 Miami condos, 300 hotel rooms and a marina. The Miami Riverwalk project will also include retail and office space, a riverfront restaurant, a public riverwalk and parking garages.

The Miami Riverwalk project is planned to cover a 3-block area that will be bordered by the Miami River, SW 7th Street, SW 3rd Avenue and SW 2nd Avenue in Downtown Miami, right off of I-95.

According to Miami Today, Chetrit Group’s plan was reviewed May 14, 2014 by the Urban Infill & Greenways Subcommittee of the Miami River Commission and several renderings of the planned towers were seen by members of the subcommittee. Although Committee Chairman, Jim Murley, was satisfied with the presentation of the Miami Riverwalk plans, he did not believe the timing was right for an advisory vote to the full river commission.

At this time, it seems that the committee will get a more detailed plan in late June, with a river commission review possibly to be held on July 7, 2014.

What is interesting about this new Downtown Miami project is that the developer of the Miami Riverwalk intends to apply for a Special Area Plan (“SAP”) designation under the city’s zoning ordinance, Miami 21, even though the project is not quite the 9-acres required by the SAP. Receiving the SAP designation means that the developer will be given more flexibiltiy with the project’s overall design. In order to meet the 9-acre minimum criteria to be eligible for such a plan, the developer of the Miami Riverwalk will need to include some of the city-owned recreational park, Jose Marti Park, as a co-applicant for the SAP designation. A developer teaming up with the City of Miami…..Interesting. The approval of such a plan will need to be determined by the city commission.

Here is a map of the location of the proposed Miami Riverwalk:

Location map of the proposed Miami Riverwalk project