Faena Residences Miami Breaks Ground on Miami River

Construction started October 28 on Faena Residences Miami, a 434-unit condominium project at 24 SW 4th Street along the Miami River. The same day, developers closed an $817 million construction loan from Tyko Capital, arranged by Walker & Dunlop and described as the largest condominium construction loan in Florida history. Fortune International Group and KAR Properties are developing, with architecture by Rafael Viñoly Architects.

Two 68-story towers will rise 802 feet, totaling 775,852 square feet of residential space. A 45,000-square-foot sky bridge will house the Faena Club. Interiors are by Bryan O'Sullivan Studio and Faena Design Studio, with landscape by Sasaki. Coastal Construction is general contractor.

Amenities include a theater, spa, infinity pool, fitness center, private dining, Faena Rose members space, restaurant and bar, library, game room, screening room, art collection, and private marina. It is Faena's first standalone residential development and anchors the planned 14-acre Faena District Miami River.

Sales opened in May 2025 and have surpassed $500 million, including a $30 million penthouse. Completion is expected in early 2030.