Driftwood Capital and its partners MV Real Estate Holdings and Merrimac Ventures have obtained a $145 million construction loan from Centennial Bank to move forward with the Riverside Wharf development on the Miami River. The financing is intended to support the vertical construction phase of the planned hospitality-focused complex, which is programmed as a nine-story, two-tower project anchored by a 167-key Dream Hotel. Total development costs for Riverside Wharf are cited at $350 million.
The project is planned for 114 Southwest North River Drive along the Miami River and is designed to encompass approximately 200,000 square feet upon completion. Plans call for a range of entertainment and food-and-beverage uses alongside the hotel component, including a 30,000-square-foot nightclub, a rooftop pool day club, a 12,000-square-foot event hall, and 16,000 square feet of signature restaurant space. The funding from Centennial Bank will enable the joint venture to advance from predevelopment into full construction on these elements.
Beyond its hospitality and entertainment program, Riverside Wharf is expected to incorporate several public-facing features linked to the riverfront setting. The plans include the rebirth and expansion of The Wharf Miami, a publicly accessible riverwalk and a new seawall. The development also contemplates a pop-up location for Garcia’s Fish Market, intended to acknowledge and celebrate the neighborhood’s longstanding fishing heritage along this stretch of the Miami River.
Design work for Riverside Wharf is being led by architect Jon Cardello of CUBE 3 Architects. Moss Construction is serving as the project’s general contractor and is identified as the entity developing the complex. With the construction loan now in place, the development team is targeting a completion timeline in fall 2028 for the overall project. The combination of hotel rooms, nightlife, event space, restaurants, and public waterfront amenities positions Riverside Wharf as a substantial mixed-use hospitality destination within Miami’s riverfront corridor.
The deal structure features a joint venture between Driftwood Capital, MV Real Estate Holdings, and Merrimac Ventures on the sponsorship side, with Centennial Bank providing the construction financing. As the project advances toward its projected 2028 delivery, the secured construction funding marks a major milestone in transitioning Riverside Wharf from planning and design into active construction along the Miami River.
