Driftwood Capital, MV Real Estate Holdings and Merrimac Ventures Secure $145M Loan for Riverside Wharf in Miami

• Driftwood Capital, MV Real Estate Holdings and Merrimac Ventures secured a $145 million construction loan from Centennial Bank for Riverside Wharf, a $350 million waterfront development.
• Riverside Wharf is located at 114 SW North River Drive, Miami, Florida 33130, along the Miami River in downtown Miami.
• The 200,000-square-foot development will feature a 167-room Dream Hotel, a 30,000-square-foot nightclub, 16,000 square feet of restaurant space and a 12,000-square-foot event hall.
• Completion is projected for fall 2028, with Moss Construction serving as general contractor and CUBE 3 Architects leading the architectural design.

What the $145 Million Loan Means for Riverside Wharf

Driftwood Capital, MV Real Estate Holdings and Merrimac Ventures have secured $145 million in construction financing from Centennial Bank for Riverside Wharf, advancing the $350 million hospitality and entertainment project toward vertical construction. The nine-story development will rise along the Miami River, combining hotel accommodations, restaurants, nightlife and public waterfront access. The loan marks a major financing milestone for a project that broke ground in December 2025. The developers have also raised $15 million through the EB-5 investment program, with a reported goal of reaching $60 million through that source. The additional capital is part of the broader effort to fund the project’s total development cost.

What Riverside Wharf Will Bring to the Miami River

The approximately 200,000-square-foot project will include a 167-room Dream Hotel, alongside entertainment and dining venues designed to attract both visitors and local residents. Plans include a 30,000-square-foot nightclub, a rooftop pool and day club, a 12,000-square-foot event hall and 16,000 square feet of restaurant space. The development will also bring back an expanded version of The Wharf Miami, the outdoor waterfront venue previously located on the site. Additional plans call for a publicly accessible riverwalk, a new seawall and a pop-up location for Garcia’s Fish Market. These features combine private hospitality uses with public-facing improvements along the riverfront.

What the Development Team Brings to the Project

The project brings together several experienced firms across development, design and construction. CUBE 3 Architects, under Jon Cardello, is leading the architectural design, while Gensler is completing construction documents and ICRAVE is responsible for the interiors. Moss Construction is serving as general contractor. The development partnership combines Driftwood Capital’s hospitality investment experience with MV Real Estate Holdings and Merrimac Ventures’ local real estate expertise. The property involves land owned by MV Real Estate Holdings and the City of Miami. A 50-year ground lease extension was approved by voters in 2022, with requirements that include public riverwalk access and seawall improvements.

What Riverside Wharf Could Mean for Miami’s Hospitality Market

Riverside Wharf is designed to create a concentrated destination for hotel stays, dining, nightlife and events in downtown Miami. Its combination of a branded hotel, large entertainment venues and waterfront amenities could broaden the Miami River’s appeal beyond its existing restaurant and boating uses. For hospitality investors, the project highlights continued capital deployment into experience-driven developments that combine multiple revenue streams. Hotel rooms, event bookings, food and beverage operations, and entertainment venues each offer different demand drivers, although performance will depend on operating costs, tourism trends and competition. The public riverwalk also adds a community-facing component that may help integrate the development with the surrounding riverfront.

What Investors Should Watch Before 2028

Riverside Wharf is targeting completion in fall 2028. The next milestones include vertical construction, continued financing and delivery of the hotel, entertainment venues and waterfront improvements. For investors tracking South Florida hospitality, the $145 million loan signals lender participation in a substantial mixed-use project, but the ultimate outcome will depend on construction execution and the performance of its many operating components. Riverside Wharf’s progress will be worth watching as downtown Miami continues investing in waterfront destinations that combine real estate, tourism and entertainment.