MIAMI — Coconut Grove, Fla.-based Mast Capital and AEW Capital Management have partnered to break ground this month on the second phase of Waterline Miami River. In late 2020, the joint venture built the first phase, which comprised a 346-unit multifamily community spanning 280,000 square feet. The second phase will add an additional 342 units on a 2.7-acre development site.
The joint venture has secured an undisclosed amount of financing from Wells Fargo for the project’s construction. The project’s general contractor is Kaufman Lynn and the architect is Corwil Architects.
The second phase of Waterline Miami River will offer studios, one-, two- and three-bedroom floorplans and span approximately 280,000 square feet. The unit features of Phase II will include modular European closets, washers and dryers, private balconies, quartz countertops and stainless steel appliances. Community amenities will include a fitness center, one-acre park, dog park, open recreational area, 24/7 package and dry-cleaning lockers, tech hub and flex office spaces for residents working remotely, conference rooms, Wi-Fi in social hubs, private access parking, pet spa with washing station and secure bike room with a repair station.
Located along the Miami River, Waterline Miami River is located a half-mile south of the Miami Health District and within 1.5 miles of downtown Miami and the Brickell Financial District.