Harvey Hernandez's Newgard Reveals Plans for 169-Unit Tower in Brickell

Developer Harvey Hernandez is making waves in Brickell once again as he reveals plans for a new 59-story condominium tower on the Miami River. This latest addition marks the final phase of Hernandez's ambitious three-tower project in the heart of Brickell. Newgard Development Group, under Hernandez's leadership, has submitted an application for a striking 169-unit tower, featuring 1,100 square feet of commercial space, within the One Brickell Riverfront development at 99 Southwest Seventh Street in Miami. While the initial proposal calls for around 160 condos, the unit count may see some adjustments in the future.

Awaiting the Nod of Regulatory Bodies

Miami's regulatory bodies are set to have their say on this project soon. The Miami River Commission is expected to vote on the third tower's proposal in an upcoming meeting, followed by the Miami Urban Development Review Board's assessment at a later, unscheduled meeting. Both boards serve as advisors, offering recommendations for approval, denial, or potential adjustments, with final decisions typically resting with city administrators.

Expanding the One Brickell Riverfront Development

Hernandez and his affiliate acquired the 1.6-acre development site in 2021 for $50.5 million. The property is strategically located near the Brickell City Centre mixed-use complex. To further expand the One Brickell Riverfront development, Newgard purchased three adjacent lots last year, totaling 0.6 acres, at 66 Southwest Sixth Street, 625 Southwest First Avenue, and 69 Southwest Seventh Street. The project's first two towers currently under construction include the 44-story Lofty Brickell condo building and a 43-story residential tower, together offering over 700 units and sharing a common podium.

Presales Soaring for Lofty Brickell

Lofty Brickell has already presold over 92 percent of its units, according to Newgard's spokesperson. However, details about the 43-story tower's unit offerings—whether they will be condos or apartments—remain undisclosed. Newgard secured a substantial $170 million construction loan for Lofty Brickell last summer, further highlighting Hernandez's dedication to the project.

Harvey Hernandez: A Builder with a Proven Track Record

Harvey Hernandez is a prominent developer and investor in South Florida, specializing in condominiums. Among his successful completed condo projects are the 140-unit Solaris building in Brickell, the 303-unit City Palms in West Palm Beach, the 176-unit Gallery Art in Edgewater, and the 350-unit Centro in downtown Miami, as noted on Newgard's website. Notably, last summer, an affiliate of Hernandez entered into an agreement to sell nine Centro units, which had been part of a bankruptcy proceeding, for a total of $3.2 million with the intent to settle outstanding debts.

Rising Towers in the Miami River District and Brickell

The Miami River District and Brickell continue to be prime targets for developers. Urban-X Group's River Landing Shops & Residences, a mixed-use complex completed in 2020, stands as one of the major projects along the river. The firm is now looking to expand with a proposed 28-story, 475-unit apartment building called MidRiverVu at 1411 Northwest North River Drive. Additionally, Lissette Calderon, a pioneer developer in the Miami River District, acquired a development site near the river at 2301 Northwest 33rd Avenue for $32.2 million. In Brickell, Aria Development Group, Place Projects, and Largo have set their sights on a five-story, 105-unit condo building with additional townhomes, located at 2222, 2250, 2204, 2248, and 2252 Brickell Avenue. Brickell's skyline is evolving, with new heights on the horizon.