St. Regis Sunny Isles Beach Pours 10k-Yard Foundation as Its $3B Twin Towers Head Vertical

South Tower's Foundation Is In, and It's a Big One

The South Tower at The St. Regis Residences, Sunny Isles Beach just cleared its biggest underground milestone. Over three continuous days, July 24 through 26, Coastal Construction poured roughly 10,000 cubic yards of concrete into a mat foundation measuring 150 feet by 135 feet and 13 feet thick, the base for a 170-residence, 62-story tower set to rise 750 feet above the Atlantic at 18801 Collins Avenue.

The scale of the pour matches the scale of the site. Coastal Construction mobilized 500 workers and ran six boom pumps simultaneously for more than 30 hours, backed by roughly 1,100 concrete truck deliveries and about 4 million pounds of reinforcing steel. Developers Fortune International Group and Château Group say the South Tower now moves into vertical construction this year, with the North Tower, a 150-residence companion building, breaking ground in early Q4.

"Every major project reaches a point where years of planning, engineering and construction begin to take visible shape," said Edgardo Defortuna, CEO of Fortune International Group. "Completing the foundation is one of those moments. It represents an extraordinary amount of work below the surface and marks the beginning of the next chapter as the South Tower starts to rise."

The two towers sit on a 4.7-acre oceanfront parcel with 435 linear feet of Atlantic frontage, which the developers and outside coverage describe as the longest uninterrupted stretch of beachfront of any luxury residential project currently under construction in the region.

A $418M Bet That's Already 90% Sold

The foundation pour lands months after the project's capital stack came into full view. Bank OZK, the project's lender since 2020, expanded its construction loan to $418.3 million in December, one of the largest financing packages ever arranged for a Sunny Isles Beach condo tower. The South Tower, which launched sales in 2022, is now roughly 90% presold, and the combined sellout across both towers is projected to top $3 billion.

That kind of lending confidence isn't isolated to St. Regis. Four buildings south, Gil Dezer's Bentley Residences recently closed a $630 million construction loan from Madison Realty Capital, and Naftali Group secured $465 million for its JEM Private Residences tower at Miami Worldcenter. Sunny Isles Beach's oceanfront corridor, already home to the Ritz-Carlton Residences, the Residences by Armani/Casa and the Porsche Design Tower, keeps drawing nine-figure debt for branded, ultra-luxury product, and St. Regis's loan sits near the top of that stack.

Remaining residences at St. Regis start at approximately $5 million, with the North Tower's current listings running as high as $12.6 million, according to Miami MLS data.

Two Towers on a Site Fortune and Château Have Held Since 2014

Fortune International Group and Château Group assembled the 18801 Collins Avenue site by buying out a 350-unit condo building on the parcel for $113 million in 2014, then spent years planning the 62-story replacement. Designed by Arquitectonica with interiors by Patricia Anastassiadis, the finished project will carry more than 70,000 square feet of indoor and outdoor amenities across both towers, including two public-facing restaurants, a full-floor private spa, indoor and outdoor pools, a fitness and wellness center, a private residents' club and St. Regis's signature butler service.

"For our residents, this milestone is especially meaningful because they will now begin to see the building emerge," said Manuel Grosskopf, CEO of Château Group. "Construction is entering a highly visible phase, and we're excited to see the vision continue taking shape as we move toward delivery."

Coastal Construction, the general contractor on the job, has worked with the Fortune-Château partnership on multiple prior projects.

"South Florida continues to see tremendous demand for luxury waterfront residences, and we're honored that developers continue to trust Coastal Construction with some of the region's most complex projects," said Tom Murphy, Coastal Construction Co-CEO.

What's Next: Vertical Construction, Then a Second Groundbreaking

With the mat foundation cured, the South Tower moves into vertical construction for the remainder of this year, targeting completion in late 2028. The North Tower breaks ground in early Q4 and is expected to deliver roughly a year later, in late 2029, completing the 320-residence project. Watch for the South Tower's steel and concrete to start stacking visibly along Collins Avenue in the coming months, and for sales activity at the North Tower to pick up as the second tower's own groundbreaking approaches.