Raycliff Capital Plans Major Condo/Hotel Development in Miami Design District
Raycliff Capital is set to transform its current location in Miami’s Design District, which currently consists of 88,000 square feet of retail and office space. If approved at an upcoming planning board hearing, the firm intends to demolish the existing buildings and replace them with new towers rising 25 and 12 stories.
Raycliff purchased the prime property in 2022 for $143.6 million. The company is partnering with Fort Partners, Miami Design District Associates, and Constellation Hotels Holdings on the ambitious development.
The project, titled Miami Design Residences Designed by Chipperfield, will span a total of 611,839 square feet. Plans include 143 condominium units, 85 hotel rooms, 20 hotel/condo hybrid units, 55,089 square feet of commercial space, and 171 parking spots.
The 25-story residential tower will feature a rooftop pool deck, while the adjacent 12-story tower will house hotel rooms and condo/hotel units, also topped with a rooftop pool.
The architectural design is being led by internationally renowned David Chipperfield Architects in London, with Miami-based Cube 3 serving as the architect of record.
