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MIAMI-Locally based Pasco Partners LLC is planning to break ground in the spring on River Drive, a multi-phased mixed use project located on the Miami River at River Drive and Flagler Street. The project will consist of four phases, River Drive Shoppes, River Drive Marina & Yacht Club, River Drive Boat House and River Drive Towers.
"River Drive is a fusion of architecture, entertainment and retail uniting. This is an exciting multi-phased project that will bring significant tourism, jobs and shoppers to the River Drive area," says Pasco Partners managing director Peter Swartz, who is overseeing the project.
River Drive Shoppes will be constructed in two phases. Phase one, which will break ground in the spring, will consist of a 58,115-sf, seven-story retail/restaurant complex. Plans for phase two, which have not yet been finalized but will break ground in the summer, will likely consist of 60,000 sf of retail space. Both phases are expected to be completed in winter 2008.
River Drive Shoppes will include the original, four-story East Coast Fisheries Building constructed in 1926. In 2003, the city designated the building as a historic site, because it reflects historic development trends of commercial fishing-related activity on the Miami River from the 1920s.
Construction of the River Drive Marina & Yacht Club will begin in the spring with an anticipated delivery date of winter 2008. It will provide 900 feet of deep water wet slips and dockage facilities. Construction of the River Drive Boat House will begin in the fall with construction expected to be completed in spring 2009. Boats up to 50 feet in length, 15 feet in width, 20 feet in height and 20 tons in weight will be able to store there.
River Drive Towers will consist of two high-rise developments, including a mixed-use condominium tower and a class A office tower. Detailed plans for the towers, along with a construction timetable, have not yet been finalized.
CB Richard Ellis first vice president Sim Wilson and senior vice president Randy Olen will serve as exclusive agents for River Drive.
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